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Everybody's Son by Raghuram Rajan

Everybody's Son by Raghuram Rajan

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Raghuram G. Rajan, a renowned economist, was among a select few who accurately predicted the 2008 global financial crisis. In his book, Fault Lines, Rajan argues that placing blame solely on greedy bankers is short-sighted and that there are fundamental flaws in the global economy that must be addressed to prevent another devastating crisis. He explains how seemingly rational decisions made by individuals in the banking industry, government, and the average citizen collectively led to the economic collapse, due to a flawed financial system with mismatched incentives and risks. Rajan presents the difficult choices that every nation must face in order to achieve lasting prosperity and stability. He also highlights India's unique development path as a successful example, but emphasizes the need for the country to take decisive action to continue its people-focused growth. By doing so, Rajan believes India can serve as a model for other rapidly-growing economies, showcasing the potential for rapid growth within a flourishing democracy.

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