Raghuram Rajan Quotations

We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.

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.

We have very stable, solid economy; we are going through challenging times.

We have to be careful of not injecting more uncertainty than economy can handle

Our actions will be at measured pace given the current market turmoil.

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.

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.

The world economy has proved tremendously resilient over the last few years.

Higher oil prices are a clear and present danger.

If you actually see price declines...you could see even greater effects.