Director/Board Member at Diligent Corp., Discover Betsy Atkins's known position history, network and 100 relationships. Find out about his known public assets.
The author is Professor of Public Policy at the University of Cambridge, and authored Cogs and Monsters: What Economics Is, and What It Should BeIn the period leading up to the 2008 global financial crisis, a few prescient voices warned of potentially catastrophic systemic instability. In a famous 2005 speech, Raghuram G Rajan explicitly cautioned that.
In the period leading up to the 2008 global financial crisis, a few prescient voices warned of potentially catastrophic systemic instability. In a famous 2005 speech, Raghuram Rajan, who later became governor of the Reserve Bank of India, explicitly cautioned that although structural and technological changes meant that the financial system was theoretically diversifying risk better than ever before, it might in practice be concentrating risk.
At the time, Rajan was mocked. Former US secretary of the treasury Larry Summers was not alone in thinking him a “Luddite.”
This episode comes to mind because of the widespread shortages emerging around the world.