Raghuram Rajan: How markets and the state leave the community behind

Raghuram Rajan, professor of finance at the University of Chicago, a former chief economist at the International Monetary Fund and the former governor of the Reserve Bank of India, outlined the argument of his new book “The Third Pillar: How Markets and the State Leave the Community Behind” at the Hutchins Center on Fiscal & Monetary Policy at Brookings on February 27, 2019.
www.brookings.edu/events/ragh... (transcript available)
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[@stephaniehale946]

*One of the brightest minds in the world economics.*

[@arjunriddle]

LOL. His knowledge is very limited. He knows nothing about economics

[@stephaniehale946]

@@arjunriddle Of course, his knowledge is very limited. But still he was the Chief Economist at the IMF and current professor at the University of Chicago, one of the best business schools in the world, and was the chief of the central banking authority in India, all this despite having a limited knowledge. Not to mention, he has authored numerous books, so the publishers keep on paying him millions to write books although his knowledge is limited. You are very right, brother! Hopefully, you will be able to achieve 10% of what Dr. Rajan has achieved in his life.

[@dev9077]

William Hale And also among the first economists to predict a forthcoming sub prime crisis in 2005.

[@vikas426]

@@stephaniehale946 Well U answered it very very well

[@aashitrajopdhya2514]

Can u explain 5:10 abt free competitive mkts if u r from chicago thats all u need? Didn't get the context. .😓

[@palaksharma5078]

I was at this talk, and was blown away at how humble and kind he is, he spoke to me, made jokes, and was gracious enough to take a picture too. 🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽 1:09:18

[@Rightlime7923]

Try to ask good questions

[@rinoyinnocent4389]

Good to see u here mam..

[@SachiMohanty]

Where was this discussion? Washington, D.C.?

[@Ann-ut6jv]

It seems he kept fumbling for a pen when you asked your question, and even after he found a pen he didn't answer you?

[@ManikandanS-zn1qv]

Omg this guy is genius. He understand the middle class problem. He actually speak for people and ask government to deal with fixing people's problem in wayyyyyyyy economic way.... Really like you sir.

[@abhinav.mishra17]

He simplifies economics to the level of a commoner very well. India misses you. Thanks Mr. Rajan!

[@aishdesai]

😘

[@tomthounaojam345]

One of the best RBI governors we had, wish he had longer term.

[@vikramrazdan5680]

He was the best among other RBI Governors when he was hired, but the worst when he left the job in 2016; the bloody fool kept on increasing interest rates to control inflation without realising that 80% of India's economy is in the informal sector which is unregulated.

[@MegaLeoben]

The bhakts chased him away

[@MegaLeoben]

@@vikramrazdan5680 you don’t understand inflation.

[@vikramrazdan5680]

@@MegaLeoben - Rajan had no previous experience in Central Banking ops, and thus he resorted to 'theoretical analysis' on 'incomplete data' given that only 20% of the India's economy is formal for which data is validated. Hero worshipping and blind faith is a problem with teenagers and half-baked cookies. I know quite a bit about Inflation and Money Supply (M1, M2, M3)/ Central Bank monetary policy in Western Economies as well as Developing Economies.

[@anupsingh-qv3nw]

what a genius prof.raghu is,we indians are so proud of him & i am angry on the political ldrs. who did't allow him to reform & improve things around in our country but hopefully he may come back as soon as we hv a change of gov. on may23- 2019.He has explained everything so clearly in his forewords which makes him the darling of the crowd/intellectuals who benefit from his enlightening discourses.good luck to him & looking forward to his return back to india.jai hind(1947 wala)

[@gustofzephyr947]

Hahaha there is no way Congress will reinstall him. Unlike Manmohan Singh, Rajan cannot be controlled and that instantly disqualifies him.

[@bijut3035]

Love to hear him. Thinks about in totality.

[@sujeettharma565]

he is true , speaker

[@mohankalagara1074]

Good intro .

[@rukminireddy921]

Excellent idea and presentation Jmreddy

[@luffy-vv8jp]

🔥🔥🔥🔥🔥🔥wao I m falling in love with india

[@anandkapdi4822]

44:10 Which author he is talking about. I am not able to hear it properly. Plz help.

[@sabyasachisenapati3619]

Ross Douthat , Reihan Salam Grand New Party: How Republicans Can Win the Working Class and Save the American Dream

[@gautamkhandelwalgk6690]

Will become an important book.

[@ThirumalavasanGDamodaran]

It is indeed. It puts things clearly. Yet to go through it fully.

[@virnamisra1657]

Whale coastal areas. do they give you a high. a time to remember

[@virnamisra1657]

Lock on the Bath pun Room door. Why didn't it occur? No suggesters ? Why?

[@tarang926]

1:06:15

[@pkswain1759]

Like technological innovations, economics theories is also evolving. Raghu is backing old school of thoughts like Neoclassical and Austrian. Capitalist society creates income disparity; communism and socialist economy discourage economy to grow faster.

[@rudranarayan6053]

After saying this I wish to know more about ur views

[@virnamisra1657]

How Ma ( ushabehn Virnabehn 105 )}}}. are left behind by the state sordids as well as the other word Good or Bad you said. You said it

[@virnamisra1657]

Comment 65.. affirmation de royale..de Parisian. Sermon e amigos

[@virnamisra1657]

Engine after 2 bogeys disentangles & an engin seeti maarey arrives at seitasitapuram & links one from front one bogey off & engin reinstated 355555. goes as per 7 min past one. ....~~~~~~~~✓

[@charlespatterson8412]

I no longer attempt to communicate on this channel because I have never seen a sign of response. It is for my pleasure alone. I still don't have to pretend I like it...

[@TheBhumbak]

hahahahha

[@MrUdayNarainPandeySharadNPande]

Why no IIM Delhi found instantly on the web world.

[@virnamisra1657]

What do you do when diseased civil cements crop up in between some peelpaint but jack stone built buildings and like you remember the country turns both eyes blind. ?

[@virnamisra1657]

Community chest. Delve deeper in that detail

[@virnamisra1657]

32?

[@lively196]

Whenever we distract from our way ,simple way to get on your way again ,just back to basic ......every one need to use you. but no body wants you get benefited from it...only decentralize will be the way to make each one on single platform and with each other engagement we all grow ,not only the human but also our surrounding community.

[@virnamisra1657]

These are for the rajdhani newpicnic come along

[@virnamisra1657]

In 3-20 seconds. Oint 1) look at who all are participating and why who !? Aren't 2) oint oink pink 2 .. you fill in

[@shankarvk922]

In 1995, S Gurumurthy already wrote a seminal piece on community based developmental model, focusing on industrial clusters..

[@shankarvk922]

@Sourabh Mittal here is an article link. www.thehindubusinessline.com/opinion/caste-as-social-capital/article22995911.ece. Harish Damodaran has wriiten a book on this subject. Check on Amazon

[@sriwru]

community based development is far away from industrial clusters ..

[@kalyaninutopia]

Gurumurthy's piece is not seminal neither did he focus on industrial clusters. Read the link that you have shared thoroughly.

[@sriwru]

Why waste reading something that idot wrote .. Worth illa ..

[@kalyaninutopia]

I asked Mr. Shankar to at least read the article thoroughly before claiming that Gurumurthy wrote about industrial clusters. Neither Gurumurthy nor Mr. Shankar seems to understand what industrial clusters are. Moreover, the article is outdated and hence infactual. According to the NSSO 2011-12 data, relative share of ownership of establishments: ST 0.5, SC 0.6, OBC 0.9, General castes 1.8. So, Gurumurthy's argument falls flat. @@sriwru

[@virnamisra1657]

You who don't prohibit & the country whose people fail to......

[@TTT-uk3cn]

Why none of media asking Rajan questions on Congress conspiracy to throw in fake currency in Indian economy via UK and Pakistan? That led to demonetisation. P. Chidambaram is under scrutiny and his finance secretary is already in custody.

[@tamilkalavai]

A lady who make lemon pickle calls him a worst economist Damn it.....

[@virnamisra1657]

Angle of inclusion. Between removal of the portrait at odeon and the obtuse a la asterisk

[@virnamisra1657]

Revival of histories and geographies like crossing the T s ( la Espania. & Dotting ( Kim s Empire. Pun the I s

[@virnamisra1657]

BOB 2 15 2. Robert"""""" Robert """"". Milan

[@MrUdayNarainPandeySharadNPande]

The entire ....

[@virnamisra1657]

Lowly doesn't require you to diagnose. our country & profession is tendential .... however didn't fight on that

[@virnamisra1657]

Baden Baden English. &. Some delicacies. in. Fondue

[@virnamisra1657]

How bout sharing/ sorting a few venues like this your place & / or sweedish house & lots few more & bring in fed exchange chief & you guys & few many others out of their circles & keep going on. but first graph extrapolating the sultry circulars. if you know what I err

[@virnamisra1657]

Chameleon tracks o train

[@nandakumar1780]

Oold culture was manually maintain of domestic every day's " Naw skills with electrical powers.

[@virnamisra1657]

४८

[@jayasundar7882]

P8j

[@charlespatterson8412]

Vapid. Is this the best you can do? No need to answer...

[@gomachanLovely]

全然オーダー来ねえーじゃん

[@virnamisra1657]

Main kyon Mar Gaya?????

[@virnamisra1657]

Bath pun room dues. Expand & Reimburse dear. 🦌

[@virnamisra1657]

Party 21/10/06 punjabbbi bagh club o what? Nag 🐍 family non ppearance reason non edu wife. KVK

[@virnamisra1657]

F T L 25

[@MrUdayNarainPandeySharadNPande]

No female questioners esp here

[@virnamisra1657]

Dzire & self selection denied yet carrying on Alzheimer's except if X is Max. & Ex f fact. correct or

[@EDmobile]

Sorry, Raju. Too old school theoretical and simplistic and prescriptive. That’s not how the world evolves. It’s even disobedient to everything you said. Most important of all, you completely missed the impact of the networked economy.

[@Geopoliticus]

I’m sorry but this book is intellectually lazy. Rajan’s analysis of the interaction between state-society-markets is inherently problematic: the historical analysis is limited to Western Europe, completely ignores the mercantilism, commercial interactions btw European, Asian and African communities from the 16th century onward. The three pillars operate differently in different regions in different times. You cannot generalise for the entire world on the basis of a limited reading of history. It’s surprising that an Asian scholar is so blindly Eurocentric.

[@Geopoliticus]

SheStillRuns Did you watch the talk? His three pillars thesis is based on the analysis of middle age Europe. No issue with that. But, the 16th century is the beginning of the modern international system - which persists till, well, contemporary times.

[@vikramrazdan5680]

Raghuram Rajan is living in the past, just like Gurumurthy whose theory applies to the informal sector in India where money supply and credit are unregulated; in the West the community theory is not longer valid, where the growth of new virtual communities and their influence on the monetary system needs to be studied and discussed.