Raghuram Rajan concerned about reckless capitalism in the US
Raghuram Rajan, the former Reserve Bank of India Governor, has shared his concerns regarding the state of the global economy and the challenges it presently faces. According to Raghuram Rajan, despite already experiencing the collapse of three major banks, the world’s largest economy, the United States of America, is still set to face many more challenges. In particular, Rajan expressed alarm at the domino effect, riskless capitalism, simmering time bombs, and long-term issues.
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Concerningly, Rajan believes that the measures employed to save the banking system from collapse are promoting riskless capitalism and are not a sustainable solution.
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