The Washington Times has a column by Bruce Bartlett on new IMF chief economist, Raghuram G. Rajan of the University of Chicago, here: "Fresh breath of free market air".
"...What interests me about Mr. Rajan is that he is co-author (with Luigi Zingales) of a very interesting new book, "Saving Capitalism from the Capitalists" (Crown Business, 2003). It is one of the most powerful defenses of the free market ever written. Not only does he defend the market from anti-globalists and socialists, but against capitalists who manipulate markets and government policies for their own benefit..."
I learned about this article from the blog Finding My Voice.
Rajan's web page may be found here: "Rajan UofChicago Web Page". Here's his picture from the site:
At the website "Rediff.com" you can find a column on Rajan and his appointment by Paranjoy Guha Thakurta, "Raghuram Rajan: An economist with a difference".
"Raghuram G Rajan, Professor of Finance at the Graduate School of Business, University of Chicago, is the first person of Indian origin chosen by the International Monetary Fund as its chief economist.
"He is not only the youngest individual to hold this position, but also the first from a developing nation.
"Co-author of the book Saving Capitalism from the Capitalists (Crown Business, New York, 2003), Rajan has apparently sought to steer clear of the ideological position espoused by the extreme-right Chicago school of economists.
"Though he is a firm believer in the virtues of a free market system, he has nevertheless been extremely critical of capitalists who, to use his words, "in their continuous quest for government protection against competition often turn out to be capitalism's worst enemies."
"Now at a relatively young age of forty, Rajan's rise in the world of academia has been truly spectacular..."
Also at Rediff.com, an interview with Rajan: "I am against protectionism of any kind, says Raghuram Rajan" Here, from the January 2001 CFO Magazine, is a profile of Rajan, in a longer article on contemporary financial economists: "Bright Minds, Big Theories" (by Nikos Valance):
"Rajan's work has also focused on financial intermediation, particularly the changing role of banks and the reasons why a country like the United States has such a well-developed financial system, while other developed countries, such as Germany, do not. His research showing that banks did not systematically gull the public into buying low-quality securities before passage of the Glass-Steagall Act played an important role in persuading regulators that doing away with the act would not lead to immediate disaster. Similarly, his work on small-business finance has contributed to the understanding of how credit constraints on such firms can be alleviated."
P.S. July 12: Indiawest has more, here: "Moving Up".
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