“Perhaps the hardest challenge has been to persuade the public, impatie...” — Raghuram Rajan Quote

Perhaps the hardest challenge has been to persuade the public, impatient for rapid growth, of the need to ensure stability first. Growth, it is argued, is always more important, regardless of the looming economic risks.

I don't think policy makers surprise unnecessarily. You don't pick surprise as a part of your policy. Markets value a certain amount of predictability. But there are certain areas where surprise is a tool.

Politicians know that structural reforms - to increase competition, foster innovation, and drive institutional change - are the way to tackle structural impediments to growth. But they know that while the pain from reform is immediate, gains are typically delayed and their beneficiaries uncertain.

In a world with weak aggregate demand, countries are engaging in a futile competition for a greater share of it. In the process, they are creating financial-sector and cross-border risks that will become increasingly apparent as countries exit their unconventional policies.

Many thought it was a fool's errand - that the browser companies were never going to listen to us. Others argued that, 'Users don't care if you use Web standards.' Well, of course they don't. They just know that your site works better.

Father was bold, and Mother was cautious. They never shouted at each other but argued constantly about strategy, and they taught me very early that before taking big risks, one must carefully figure the odds.

I have never, ever argued about money with any of my producers because that is the kind of relationship and understanding I have with them.

I have long argued that ISIS and Assad are not separate problems to be chosen between, but are action and reaction, cause and symptom, chicken and egg: impossible to untangle no matter how much we might like to.