Raghuram Rajan’s new book ‘Breaking the Mould: Reimagining India’s Economic Future,’ released

Former Reserve Bank of India (RBI) governor, Raghuram Rajan, in collaboration with economist Rohit Lamba, has released a groundbreaking book titled ‘Breaking the Mould: Reimagining India’s Economic Future.’ This latest addition to Rajan’s literary contributions marks a significant exploration into the potential and challenges of India’s economic trajectory.

Raghuram Rajan’s Notable Literary Journey

A Legacy of Insightful Works: Raghuram Rajan, renowned for his profound insights into the global and Indian economy, has authored impactful books such as ‘Fault Lines: How Hidden Fractures Still Threaten the World Economy,’ which won the Financial Times Business Book of the Year Award.

Exploring Economic Realities: His other notable works include ‘I Do What I Do: On Reform, Rhetoric and Resolve’ and ‘Saving Capitalism From The Capitalists,’ co-authored with Luigi Zingales. These books delve into the intricacies of economic policies and the challenges facing global capitalism.

Embracing Social Dynamics: ‘The Third Pillar: How Markets and the State Leave the Community Behind’ provides a thought-provoking exploration of the role of communities in shaping economic and social structures.

Collaborative Endeavor with Rohit Lamba: A Fresh Perspective

Co-Author Rohit Lamba: Collaborating with Rohit Lamba, an assistant professor of economics at Pennsylvania State University and a visiting assistant professor of economics at New York University Abu Dhabi, Rajan brings a blend of experience and academic rigor to ‘Breaking the Mould.’

Aims of the Book: ‘Breaking the Mould’ seeks to elucidate strategies for accelerating India’s economic development. The authors propose investing in human capital, expanding opportunities in high-skilled services and innovative manufacturing, and transforming India into a hub of ideas and creativity.

Key Themes Explored: Navigating Economic Growth

Human Capital Investment: The authors emphasize the critical role of human capital investment as a catalyst for economic development.

Innovation and Creativity: Proposing a focus on high-skilled services and manufacturing, the book envisions India as a hotbed for innovative products and creative endeavors.

Democratic Traditions: Acknowledging India’s democratic traditions, the authors highlight the potential for progress through governance reforms, including strengthening democratic institutions and fostering greater decentralization.

Critical Reflections: Praising Successes and Acknowledging Weaknesses

Balanced Perspective: ‘Breaking the Mould’ adopts a balanced approach, offering praise for successful endeavors within the Indian establishment while candidly addressing its weaknesses.

Call for Future-oriented Thinking: The authors encourage India to break free from historical constraints and adopt a forward-looking mindset, exploring possibilities that lie ahead.