Fault Lines

450.00

Author: Raghuram Rajan

9789350291733 | PB | pp. 351 | 2011 | Collins Business

In this book, Rajan outlines the hard choices that all nations must make to ensure greater stability and lasting prosperity. Importantly, he examines how the Indian development experience differs from that of other fast-growing economies.

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Description

In Fault Lines, Rajan makes a case for looking beyond the shortsighted blame-game that targets only greedy bankers. There are serious fl aws in the global economy, he writes, and an even more debilitating crisis awaits us if those faults are not addressed right now. Rajan demonstrates how the individual choices-made by bankers, government officials and ordinary homeowners-that collectively brought about the economic meltdown were rational responses to a defective global financial order: specifically, a mismatch between the incentives and the dangers involved in taking on risks. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power economic growth and stave off global downturns. In Fault Lines, Rajan outlines the hard choices that all nations must make to ensure greater stability and lasting prosperity. Importantly, he examines how the Indian development experience differs from that of other fast-growing economies. Despite India’s recent successes, he argues that the country must act decisively to maintain its people-oriented growth. This unique development path, he contends, will be a compelling role model-a triumph of rapid growth in a flourishing democracy.

Additional information

Author:

Raghuram Rajan

ISBN:

9789350291733

Publisher:

Collins Business

Binding:

Paperback

Pages:

351

Year of Publication:

2011

Edition:

First

Condition:

New

Country of Origin:

India

About the Author

Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and an international academician who is currently chief of the International Monetary Fund. He is a Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, Rajan was the Chief Economist and Director of Research at the International Monetary Fund. In 2015, during his tenure at the Indian Reserve Bank he became the Vice-Chairman of the Bank for International Settlements.

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