22 Quotes by Raghuram G. Rajan

And more than the quality of its institutions, what distinguishes a developed country from a developing one is the degree of consensus in its politics, and thus its ability to take actions to secure a better future despite short-term pain.

Autobiographies are always written as if the author had it all mapped out with perfect foresight, ignoring the risks and uncertainties at that time. This misleads, as much as those beautiful photographs of a past holiday abstract from the heat, the mosquitoes, and the lack of connectivity.

The picture of bankers slavering after bonuses soon after they had been rescued by government bailouts was not only outrageous but also pitiable - pitiable because they were clamoring for their primary measure of self-worth and status to be restored

The personal checks and balances that most of us bring to bear when we are employed in other activities - we ask ourselves if we are producing a socially useful product - operate less well in finance because, with few exceptions, making money is the Raison d'être (reason for existence) for the financier

Policy making invariably involves taking measured risks in the face of uncertainty, for one has neither a prior template nor the luxury of indecision.

Nationalism, coupled with great faith in the power of the government to enact domestic bargains between labor and capital, has been seen before: it was called fascism then.

Not taking risks one doesn't understand is often the best form of risk management.

Finance is not just about lending, it is about recovering loans also.

No institution is bigger than the people who work for it.