One of the things we need to do to avoid crony capitalism is have rule of law. So our point was obey our regulation, we will work with you to fix it, to make it more useful for you. Raghuram Rajan More Quotes by Raghuram Rajan More Quotes From Raghuram Rajan Let us remember that postponement of tapering is only that-a postponementLet's not lose the chance, the warning that we have been given, because this is going to come back and what we need to do is put our house in order before. Raghuram Rajan house order needs Capitalism's biggest political enemies are not the firebrand trade unionists spewing vitriol against the system but the executives in pin-striped suits extolling the virtues of competitive markets with every breath while attempting to extinguish them with every action. Raghuram Rajan suits political enemy We have to be careful of not injecting more uncertainty than economy can handle Raghuram Rajan be-careful economy handle We have very stable, solid economy; we are going through challenging times. Raghuram Rajan challenging-times economy challenges When you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending. Raghuram Rajan cost cutting government Our actions will be at measured pace given the current market turmoil. Raghuram Rajan our-actions currents pace We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost. Raghuram Rajan cost chance world I think the willingness to listen is really a matter of confidence. You can't be so superconfident in your abilities that you ignore what others say, and you can't be so diffident in your abilities that you think that if they say something, you will be so taken in that you will do the wrong thing. When you are confident about your abilities and also fully aware of what you don't know you are willing to listen to outside experts with the full sense that if you don't find it worthwhile you will ignore it. Raghuram Rajan taken listening thinking For nearly two centuries, scholars and politicians have debated the future of capitalism. Its critics, most prominent among them Karl Marx, have seen capitalism as intrinsically unstable, full of contradictions that will lead eventually to its collapse. Its supporters see it as the best way to allocate resources and rewards. Some even hint that the democratic capitalistic society is not just a phase in the historical evolution of economic systems but its ultimate end. Raghuram Rajan hints historical two Because the free market system is so weak politically, the forms of capitalism that are experienced in many countries are very far from the ideal. They are a corrupted version, in which powerful interests prevent competition from playing its natural, healthy role. Raghuram Rajan healthy powerful country We need two percentage points more growth to provide those jobs that are needed. Raghuram Rajan top-news With many central banks with their foots firmly pressed on the accelerator, the variety of new aggressive monetary policies, it's not clear that we've really benefited tremendously, to some extent we may have reduced the room for other policies or reduced the incentives for other policies. We're not quite sure what the fundamental value of any asset is. Raghuram Rajan company-news I think there will be volatility but I think we have to bear it. I worry more about the consequences of staying in the ultra accomodative ... world. Raghuram Rajan company-news The liftoff has been one of the most widely advertised factors, i think there will be volatility but I think we have to bear it. I worry more about the consequences of staying in the ultra accomodative ... world. Raghuram Rajan company-news If everyone is doing it, you won't get much benefit out of it. Raghuram Rajan company-news We are willing to work to try and solve the problem, in fact we have some solutions which are coming up on doing low value transactions without too much 'jhanjhat' (hassle) as they call it, but the point is you cannot violate regulations. Raghuram Rajan technology Strong government doesn't mean simply military power or an efficient intelligence apparatus. Instead, it should mean effective, fair administration - in other words, 'good governance.' Raghuram Rajan good intelligence government power Taking my bike out and riding the bike path along Lake Shore Drive, that's one of the great experiences in my life. And I hope to do it as long as I can. Raghuram Rajan my-life bike hope life The gap in India has always been between the promise and the execution. Raghuram Rajan always execution india promise By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth. And by substituting special interests for the public interest, it is harmful to democratic expression. Raghuram Rajan free competition growth opportunity
