Raghuram Rajan

“If developed countries' citizens want to feel slightly better about their economies' slow growth and high unemployment, they should contemplate how much worse matters could be without the institutions that they have.”

“Endorsing unconventional monetary policies unquestioningly is tantamount to saying that it is acceptable to distort asset prices if there are other domestic constraints on growth.”

“Common man is always benefited by a rate cut.”

“Every adverse development across the world affects the rest of the world in some way.”

“The problem with forbearance is that it always looks like a good thing to do until it stops working.”

“Competition is like a treadmill. If you stand still, you get swept off. But when you run, you can never really get ahead of the treadmill and cover new terrain - so you never run faster than the speed that is set.”

“The gap in India has always been between the promise and the execution.”

“One of the difficulties of a job in the, quote, 'real world' is you don't really get time to shut yourself off in a room and think.”

“Too many years away from academia renders you pretty incompetent at research and teaching. So I had to go back.”

“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.'”

“I am not a 'doom and gloom' guy.”

“Democratic accountability means that governments must be popularly accepted, with citizens empowered to replace corrupt or incompetent rulers.”

“In a competitive industry, only paranoid incumbents - those constantly striving for betterment - have any hope of surviving.”