“We are neither Hawks nor Doves. We are actually owls.”

To the person who gave Economics, a platform in this country, we wish our idol, Mr. Raghuram Rajan, a very Happy Birthday.
Here are some interesting facts about a stunning spokesperson and above all, an outstanding Economist. 

Raghuram G Rajan was born on 3rd February, 1963 in Bhopal, Madhya Pradesh . His father R. Govindarajan was an IPS Officer. Raghuram Rajan’s father joined the intelligence agency RAW because of which he had to travel around and hence,
Raghuram Rajan attended multiple schools, not just in India but abroad as well. However, he completed his schooling from DPS, RK Puram.

Any guesses in which field he decided to continue his studies after 12th? 
Easy, Economics? 
No! Raghuram Rajan joined the Indian Institute of Technology (IIT) , Delhi where he completed his bachelor’s degree in electrical engineering. His degree was complemented with a Gold Medal. 

After completing his engineering, he went on to pursue PGD in Business Administration from the Indian Institute of Management (IIM), Ahmedabad. Here too, he was a Gold Medalist and found the love of his life, Radhika Puri. For a brief period of time, he worked at TCS but went on to pursue his PhD at the Sloan School of Management at Massachusetts Institute of Technology(MIT).

We now present some anecdotes from his life:
In 2005, when Raghuram Rajan was the Chief Economist of International Monetary Fund(IMF). At an event that was organised to honour  “The Alan Greenspan”, head of Federal Reserve i.e. Central  Bank of USA. Raghuram Rajan stated that the financial sector was taking too much risk and a financial crisis was imminent.
This created a storm among the academicans, not because of Financial Crisis predictions but because Raghuram Rajan, a tiny figure compared to  Alan Greenspan had been critical of the Head of Federal Reserve at an event that had to honour him. But three years later in 2008, Raghuram Rajan’s prediction came true, he proved the most powerful economist in the world Alan Greenspan wrong. 
People who were earlier his critcs did not leave any stone unturned to sing praises for him. This was the time when

Raghuram Rajan :The Economist in a Shining Armour was born. 

Many of you would have watched the Oscar winning documentary Inside Job, well, Raghuram Rajan was extensively interviewed for this. 
When Raghuram Rajan was the RBI governor he wanted to end a press conference on a heroic note and so he said
“My name is Raghuram Rajan …..  becoming clueless on how to make it sound heroic, he ended by saying, “and I do what I do.” Later, he named one of his books,
‘My name is Raghuram Rajan and I do what I do’. 

Happy Birthday to the person who made US fall in love with Economics.

3 thoughts on ““We are neither Hawks nor Doves. We are actually owls.””

  1. Decision-making by Indian bureaucracy remains an issue as we are not getting enough decisions done. Things were getting centralised as India was trying to run the economy from one set of people,India needed implementation of high-value infrastructure projects, which had been put on hold due to several bottlenecks,he believed India was a recovering economy in the face of rising oil prices and it needed to build growth in the face of adversity. On the rise of Indian stocks, he said it was part of the global phenomenon. He said there was a need to move beyond short-term movements and look at long-term trends.

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