Who is Raghuram G. Rajan?

The line between theory and practice is thick, but for noted Chicago-trained economist Raghuram Rajan, his jump from academic to policymaker is both inspiring and challenging:

Mr. Rajan had written during his doctoral work at the Massachusetts Institute of Technology about the merits of the Glass-Steagall Act separation of investment banking from other financial and commercial services. But after compiling voluminous data from the early 1930s together, Mr. Rajan and Mr. Kroszner concluded that the need for Glass-Steagall was much less clear-cut.

“He was willing to move from grand theory and get down and dirty on the details of institutions,” Mr. Kroszner said. “That back and forth between cerebral theory and practice is quite unusual.”

Like a longtime military academy strategist suddenly given an army to lead, Mr. Rajan, 50, a prominent University of Chicago business school economist, now finds himself running the Reserve Bank of India, one of the most important central banks in the developing world.

via Balancing Act for India’s Top Banker – NYTimes.com.

An earlier story in WSJ India highlights the five pillars that guide his policy approach in India. And if you are still intrigued, consider his book, Fault Lines that explores what happens when individual interests collide in a networked economic society.


3 thoughts on “Who is Raghuram G. Rajan?”

  1. I first became acquainted with Raghuram Rajan a couple years ago when I saw the documentary Inside Job about the financial crisis of 2008. Mr. Rajan was one of very few economists who foresaw the global financial calamities that would accompany such massive deregulation. As you’d expect, Mr. Rajan’s concerns were disregarded and his advice unheeded. We all know what happened next. Still, I was very impressed by his prescient warning. I look forward to hearing more from him and have hope that he, along with others, will be taken seriously in future discussions of economic issues as we try and erect safeguards against a repeat of 2008.

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