Raghuram G. Rajan Quotes

#1. it is not because of the benevolence of the baker that we eat fresh bread every morning but because of his desire to make money.

Raghuram G. Rajan

#2. mind is a terrible thing to waste, and the United States is wasting too many of them.

Raghuram G. Rajan

#3. Not taking risks one doesn't understand is often the best form of risk management.

Raghuram G. Rajan

#4. The picture of bankers slavering after bonuses soon after they had been rescued by government bailouts was not only outrageous but also pitiable - pitiable because they were clamoring for their primary measure of self-worth and status to be restored

Raghuram G. Rajan

#5. By focusing only on jobs and inflation - and, in effect, only on the former - the Fed behaved myopically, indeed politically.

Raghuram G. Rajan

#6. Apart from the added efficiency, the willingness to be ruthless helps innovation. Past experience and relationships are of little value in driving radical innovation: indeed,

Raghuram G. Rajan

#7. decision by consensus is inherently conservative.

Raghuram G. Rajan

#8. A forced equalization of wages that disregards the marginal contributions of different workers will deaden incentives and lead to a misallocation of resources and effort.

Raghuram G. Rajan

#9. I thought there might be some grand design I did not understand, but the government's policy clearly was not working, because India was still poor. I was determined to learn more, so I became interested in economics. This book is another unintended consequence of the government's policies.

Raghuram G. Rajan

#10. My name is Raghuram Rajan and I do what I do.

Raghuram G. Rajan

#11. And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain.

Raghuram G. Rajan

#12. A book is almost always a collective effort, even if it has only a single author.

Raghuram G. Rajan

#13. The eventual aim was to build a 4,000-acre high-tech park, called Alpha Technopolis, to rival Taiwan's famous Hsinchu Science-Based Industrial Park. The vision was grand, perhaps overly so.

Raghuram G. Rajan

#14. Cynical as it may seem, easy credit has been used as a palliative throughout history by governments that are unable to address the deeper anxieties of the middle class directly.

Raghuram G. Rajan

#15. Politicians today vow, "Never again!" But they will naturally focus only on dealing with a few scapegoats, not just because the system is harder to change, but also because if politicians traced the fault lines, they would find a few running through themselves.

Raghuram G. Rajan

#16. Nationalism, coupled with great faith in the power of the government to enact domestic bargains between labor and capital, has been seen before: it was called fascism then.

Raghuram G. Rajan