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The Capitalism and Freedom in the Twenty-First Century Podcast
Jon Hartley and Raghuram Rajan discuss Raghu's research, his policy career including his time as the Governor of the Reserve Bank of India and the Chief Economic Adviser to the Government of India under Prime Minister Manmohan Singh, India adopting inflation targeting during his tenure, Rajan predicting the 2008 financial crisis, and economic growth in India, the legacy of his book Saving Capitalism from the Capitalists among many other topics. Recorded on February 19, 2025. ABOUT THE SPEAKERS: Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Between 2003 and 2006, Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund. Dr. Rajan's research interests are in banking, corporate finance, and economic development. The books he has written include Breaking the Mold: Reimagining India's Economic Future with Rohit Lamba, The Third Pillar: How the State and Markets hold the Community Behind 2019 which was a finalist for the Financial Times Business Book of the Year prize and Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times prize for Business Book of the Year in 2010. Dr. Rajan is a member of the Group of Thirty. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. In January 2003, the American Finance Association awarded Dr. Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40. The other awards he has received include the Infosys Prize for the Economic Sciences in 2012, the Deutsche Bank Prize for Financial Economics in 2013, Euromoney Central Banker Governor of the Year 2014, and Banker Magazine (FT Group) Central Bank Governor of the Year 2016. Dr. Rajan is the Chairman of the Per Jacobsson Foundation, the senior economic advisor to BDT Capital, and a managing director at Andersen Tax. Jon Hartley is a policy fellow, the host of the Capitalism and Freedom in the 21st Century Podcast at the Hoover Institution and an economics PhD Candidate at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently an Affiliated Scholar at the Mercatus Center, a Senior Fellow at the Foundation for Research on Equal Opportunity (FREOPP), and a Senior Fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists, and serves as chair of the Economic Club of Miami. Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, IMF, Committee on Capital Markets Regulation, US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada. Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC, and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper. ABOUT THE SERIES: Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information, visit: capitalismandfreedom.substack.com/
1. His Holiness the Dalai Lama celebrates the Anniversary of Jé Tsongkhapa's Passing Away 2. His Holiness the Dalai Lama sends condolences on the passing of former Prime Minister Manmohan Singh 3. China Wrongfully Detains over 20 Tibetans and Beats Village Head Gonpo Namgyal to Death 4. Sikyong Penpa Tsering Successfully Concluded Official Engagements in the United States, Meets with Tibetan communitymembers in Santa Fe, Salt lake city, Portland and San Francisco 5. UK House of Lords Raises Concerns Over Systematic Erasure of Tibet's True Historical Status 6. Co-convener MP Tapir Gao of All Party Indian Parliamentary Forum for Tibet Speaks on His Holiness the Dalai Lama in Indian Parliament 7. Tibetan Parliament released Press Statement on China's Sanctions Against Tibetan and Uyghur Advocacy Groups in Canada 8. Representative Karma Singey Expresses Earnest Condolences on the Demise of Former Australian Minister Kevin Andrews 9. Representative Dr Tsewang Gyalpo Arya meets Japan Parliamentary Support Group Chairperson and General Secretary 10. Speaker Khenpo Sonam Tenphel Congratulates Taiwanese Labor Minister Hung Sun-Han
In an illustrious career spanning over forty years in public service and culminating in the highest office in Indian bureaucracy – Union Cabinet Secretary – KM Chandrasekhar has seen, and done, it all. He is one of those rare IAS officers who has held a wide range of senior positions in State government, the Centre, and public sector undertakings. In this episode of BIC Talks, Chandrasekhar talks about his autobiography, As Good as My Word, wherehe paints an intimate picture of the UPA government during one of its toughest phases and his own, crucial, role in steering India through some of her most severe crises – the Great Recession of 2008, the oilmen's strike in 2009 and the 26/11 Mumbai attacks – and scams – the 2G Spectrum case and the 2010 Commonwealth Games corruption scandal. The book describes Chandrasekhar's experiments in public administration, cutting his teeth in trade diplomacy as the Indian ambassador to the World Trade Organization, his excellent working equation with Prime Minister Manmohan Singh, his run-ins with some prominent ministers of the time, and his reflections on Indian democracy, economy and defence. The author will be in conversation with ACS, Panchayat Raj, Government of Karnataka, Uma Mahadevan and Sudhir Krishnaswamy Vice-Chancellor of NLSIU, Bengaluru. Subscribe to the BIC Talks Podcast on your favourite podcast app! BIC Talks is available everywhere, including iTunes, Spotify, Google Podcasts, Castbox, Overcast and Stitcher.
In the world of Indian cricket, the fervor of fans was palpable as they chanted 'India Maange CUP,' echoing their longing for victory. Rajdeep Sardesai and Nikhil Naz rewind the iconic moments of the 2011 world cup, the second time India brought the cup home, after 1983. What were the intriguing parallels between the 1983 and 2011 cricket World Cups? Sachin Tendulkar, the stalwart of the 1990s team, found himself alone on a challenging path without the likes of Dravids or Laxmans to support him. In the backdrop of 2011, Rajdeep and Nikhil shed light on the turbulent economic climate, marred by alleged scams during Prime Minister Manmohan Singh's tenure. This era was tinged with a 'feel bad factor,' reminiscent of the circumstances in 1983 when Punjab was gripped by insurgency and Kashmir faced turmoil. Virender Sehwag's revelation about Dhoni's superstition of consuming only khichdi piqued curiosity. Also, they recount the subplot of the India-Pakistan match in the World Cup, that was set against the backdrop of the 26/11 attacks. The Indian government's skepticism about Pakistani fans visiting Mohali, a bordering area with Lahore, added an element of uncertainty to the typical subcontinental hospitality. Finally they relive the dramatic finale, where the toss was tossed twice, Sri Lanka faced the finals without key players, and the stadium resounded with 'Vande Mataram' chants, sending shivers down spines. And why the question still lingers: Was Gautam Gambhir and not Dhoni truly deserving of the 'Man of the Match' title? Listen in to more untold stories. Produced by Anna Priyadarshini Sound Mix by Kapil Dev Singh
Assessing the outcomes from the Modi-Biden summit in Washington Synopsis: Every second Friday of the month, join The Straits Times' associate editor & Senior Asia columnist Ravi Velloor, as he distills his experience from four decades of covering the continent. In this episode, which focuses on Indian Prime Minister Narendra Modi's recent summit with US President Joe Biden, he chats with Dr Sanjaya Baru, the eminent Indian geo-economist, and commentator who was Media Adviser to Prime Minister Manmohan Singh. The Modi-Biden summit produced many startling results, including the likely sale and transfer of frontline jet engine technology to India, the stationing of officers from each nation in each other's military commands, and close cooperation in science and technology. During the visit, Mr Modi also became a rare global leader to be given the honour of delivering an address to the combined houses of US Congress for a second time. The first was in June 2016. Highlights (click/tap above): 1:40 Highlights of the Modi-Biden summit 7:00 Concern about India's handling of minorities 12:00 Are US and India in a quasi-alliance? 14:20 Russia-India ties will endure 17:00 Modi has played foreign policy well 20:30 Outlook for Sino Indian ties 23:30 How Asean should view US-India ties Produced by: Ravi Velloor (velloor@sph.com.sg), Ernest Luis, Teo Tong Kai and Fa'izah Sani Edited by: Teo Tong Kai and Fa'izah Sani Follow Speaking Of Asia Podcast every second Friday of the month on our Asian Insider Podcast channel here: Channel: https://str.sg/JWa7 Apple Podcasts: https://str.sg/JWa8 Google Podcasts: https://str.sg/wQsB Spotify: https://str.sg/JWaX Website: http://str.sg/stpodcasts Feedback to: podcast@sph.com.sg Ravi Velloor's columns: https://str.sg/3xRP Ravi Velloor on Twitter: https://twitter.com/RaviVelloor Register for Asian Insider newsletter: https://str.sg/stnewsletters --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts Discover BT Podcasts: https://bt.sg/pcPL --- Special edition series: The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! #STAsianInsiderSee omnystudio.com/listener for privacy information.
Assessing the outcomes from the Modi-Biden summit in Washington Synopsis: Every second Friday of the month, join The Straits Times' associate editor & Senior Asia columnist Ravi Velloor, as he distills his experience from four decades of covering the continent. In this episode, which focuses on Indian Prime Minister Narendra Modi's recent summit with US President Joe Biden, he chats with Dr Sanjaya Baru, the eminent Indian geo-economist, and commentator who was Media Adviser to Prime Minister Manmohan Singh. The Modi-Biden summit produced many startling results, including the likely sale and transfer of frontline jet engine technology to India, the stationing of officers from each nation in each other's military commands, and close cooperation in science and technology. During the visit, Mr Modi also became a rare global leader to be given the honour of delivering an address to the combined houses of US Congress for a second time. The first was in June 2016. Highlights (click/tap above): 1:40 Highlights of the Modi-Biden summit 7:00 Concern about India's handling of minorities 12:00 Are US and India in a quasi-alliance? 14:20 Russia-India ties will endure 17:00 Modi has played foreign policy well 20:30 Outlook for Sino Indian ties 23:30 How Asean should view US-India ties Produced by: Ravi Velloor (velloor@sph.com.sg), Ernest Luis, Teo Tong Kai and Fa'izah Sani Edited by: Teo Tong Kai and Fa'izah Sani Follow Speaking Of Asia Podcast every second Friday of the month on our Asian Insider Podcast channel here: Channel: https://str.sg/JWa7 Apple Podcasts: https://str.sg/JWa8 Google Podcasts: https://str.sg/wQsB Spotify: https://str.sg/JWaX Website: http://str.sg/stpodcasts Feedback to: podcast@sph.com.sg Ravi Velloor's columns: https://str.sg/3xRP Ravi Velloor on Twitter: https://twitter.com/RaviVelloor Register for Asian Insider newsletter: https://str.sg/stnewsletters --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts Discover BT Podcasts: https://bt.sg/pcPL --- Special edition series: The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! #STAsianInsiderSee omnystudio.com/listener for privacy information.
In this episode, we are joined by Sanjaya Baru and Suhasini Haidar to talk about the new book "A New Cold War: Henry Kissinger and the Rise of China” Timed to coincide with the 50th anniversary of Kissinger's historic 1971 visit that marked the start of the era of U.S.-China engagement, the book examines the legacies of the visit. We discuss in this podcast how the 1971 visit happened, its impact on the Cold War, and the evolution of U.S.-China relations in the years since. We particularly focus on the consequences for India, and ask what the lessons from history are as India navigates a new era of U.S.-China competition. The book is a collection of essays by 18 authors, and is edited by Dr. Baru and Rahul Sharma. Suhasini Haidar is among the authors. Guests: Sanjaya Baru, political commentator, author, and previously media adviser to former Prime Minister Manmohan Singh; Suhasini Haidar, National Editor and Diplomatic Affairs Editor, The Hindu Host: Ananth Krishnan, China correspondent, The Hindu
In today's episode we are in conversation with author Sanjaya Baru about his new book India's Power Elite: Class, Caste and a Cultural Revolution. The ascent of Prime Minister Narendra Modi in the national arena has disrupted politics as we knew it and the BJPs' subsequent dominance over political discourse has led sociologists and political commentators to find new idioms through which to document the changes that this brought about on the political and social sphere. In his book, Mr. Baru, a former media advisor to Prime Minister Manmohan Singh tries to capture not just the churn brought about by the 2014 general election and the decline of the Congress in the political sphere, but its impact on the social and cultural landscape, and the nuts and bolts that make up India's elite. Host: Nistula Hebbar, Political Editor, The Hindu Want to get more from The Hindu on books? Subscribe to our weekly newsletter here (Newsletter Subscription) Write to us with comments and feedback at socmed4@thehindu.co.in
In this episode, Dr Happymon Jacob interviews Amb. Shivshankar Menon (National Security Advisor to former Prime Minister Manmohan Singh) on his new book – India and Asian Geopolitics. The book offers a sweeping survey of India's strategic history as part of the larger Asian geopolitical narrative. He provides an intellectually stimulating account of India's strategic situation and its sense of place in the world from Independence in 1947 to the present. He discusses the intellectual undercurrents of India's grand strategy in different periods – from Nehruvian Non-Alignment to Indira Gandhi's Realpolitik and Narasimha Rao's Continuity and Change. Menonunpacks India's present geopolitical predicament offers meaningful insights on China's rise and its consequences for the international order. In the end, he highlights the need for India to have a grand strategic vision of its place in the world and to pursue its interests of domestic transformation through greater connection with the wider world.
In the latest episode of On The Record with Hindustan Times’ Sunetra Choudhury, Chief Economic Advisor, Krishnamurthy Subramanian responded to former Prime Minister Manmohan Singh’s inequality charge. Subramanian said, “I think we have to look at the strength of the economic argument other than the person making the argument. The chapter that we have written in the Economic Survey on inequality and growth, I think has a resounding answer to arguments like these. I think these commentaries are based on conversations in advanced economies where there is a conflict between inequality and growth.” He added, “In India, this kind of tension doesn't manifest itself, whether you look at education, health outcomes, crime, mental health, all kinds of indicators.”
Congress leaders including from former Prime Minister Manmohan Singh claimed that several surgical strikes were conducted by army during the previous UPA rule. “Multiple surgical strikes took place during our tenure, too. For us, military operations were meant for strategic deterrence and giving a befitting reply to anti-India forces than to be used for vote garnering exercises, Singh had said in an interview to a newspaper. Congress leader Rajiv Shukla had told reporters at an AICC briefing last week that six surgical strikes were conducted during the period of Manmohan Singh government. PM Modi in a rally slammed the Congress for telling "lies" aand said the party does surgical strikes only "in video games" Listen to this podcast for more..
Ironically, Prime Minister Modi needs to take lessons from the swift, decisive actions of two politicians he holds in disdain, former Prime Minister Manmohan Singh and former Finance Minister Jaswant Singh, says The Quint's founder Raghav Bahl.
THE BBC has banned bananas at their new £1billion headquarters. Posters have been put up warning colleagues not to eat them at work. This was requested by a journalist who said she could suffer a fatal reaction if she came into contact with a banana. So where will it all end? Fruit? Nuts? Cadburys chocolate? THE Railways Minister commutes to work in a chauffeur-driven CAR — at a cost of £80,000-a-year. Instead of suffering overcrowded trains, Tory Simon Burns is ferried on an 80-mile round-trip from his home to his Westminster office at taxpayers’ expense. We both feel strongly about this but what about those reading the report? A QUARTER of mums turn off heating so they can afford FOOD for their kids according to a new survery. Millions more use layers of extra clothes or blankets to keep power bills down. Didn't we do this when we were young? India's prime minister called for calm after clashes erupted between police and demonstrators protesting about a gang rape in the country's capital. "We will make all possible efforts to ensure security and safety to all women in this country," Prime Minister Manmohan Singh said. "I appeal to all concerned citizens to maintain peace and calm." We feel strongly about this as obviously do thousands in India and around the world. WAR hero Andy Reid last night told of his joy at becoming a dad after losing THREE limbs. Andy, 36, feared he would never be able to have children because of the terrible injuries he suffered when he stepped on a Taliban booby-trap in Afghanistan. We salute this great dad.
THE BBC has banned bananas at their new £1billion headquarters. Posters have been put up warning colleagues not to eat them at work. This was requested by a journalist who said she could suffer a fatal reaction if she came into contact with a banana. So where will it all end? Fruit? Nuts? Cadburys chocolate? THE Railways Minister commutes to work in a chauffeur-driven CAR — at a cost of £80,000-a-year. Instead of suffering overcrowded trains, Tory Simon Burns is ferried on an 80-mile round-trip from his home to his Westminster office at taxpayers’ expense. We both feel strongly about this but what about those reading the report? A QUARTER of mums turn off heating so they can afford FOOD for their kids according to a new survery. Millions more use layers of extra clothes or blankets to keep power bills down. Didn't we do this when we were young? India's prime minister called for calm after clashes erupted between police and demonstrators protesting about a gang rape in the country's capital. "We will make all possible efforts to ensure security and safety to all women in this country," Prime Minister Manmohan Singh said. "I appeal to all concerned citizens to maintain peace and calm." We feel strongly about this as obviously do thousands in India and around the world. WAR hero Andy Reid last night told of his joy at becoming a dad after losing THREE limbs. Andy, 36, feared he would never be able to have children because of the terrible injuries he suffered when he stepped on a Taliban booby-trap in Afghanistan. We salute this great dad.
Mumbai, formerly Bombay, has been resilient in the wake of eight simultaneous bomb explosions on the city's public train lines that killed more than 200 and injured 700 more. The trains were back on schedule less than 24 hours after the attacks and the Bombay Stock Exchange climbed a healthy three percent the following day. Indian authorities have rounded up 350 possible suspects. Similar to the 2004 bombings in Madrid and public transportation bombings in London last summer, Monday's explosions preceded peace talks--both the G8 Summit in Russia, to begin this weekend, and ongoing talks between India's Prime Minister Manmohan Singh and Pakistan's President Pervez Musharraf. Was it an act of international terrorism or a statement by homegrown terrorists, protesting India's quick growth toward globalization? Diana Nyad guest hosts. Making News: Israel Bombs Lebanon after Hezbollah Kidnaps SoldiersYesterday, Hezbollah militants attacked several towns in northern Israel, wounding civilians and capturing two Israeli soldiers. The Lebanese group has demanded an exchange of Arab prisoners in Israeli jails for the soldiers. Today, after Israel's concentrated attack on Lebanese airports, aimed at crippling civilian and military air access, Hezbollah fired rockets into Israel's populous port city of Haifa. We get an update from Nicholas Blanford, who's in Beirut for the Christian Science Monitor, and Kevin Peraino, who's in Jerusalem for Newsweek.Reporter's Notebook: Wider Flaws Found in Boston's Big Dig TunnelIt was conceived as a $14.6 bill engineering marvel to replace the city's central highway with an underground system. But over the course of 15 years of construction, Boston's Big Dig was fraught with trouble, from leaks and defective panels to accusations of using inferior quality concrete. On Monday, a section of tile fell and crushed a car. The driver escaped but couldn't save his wife. Joe Dwinell is assistant metro editor of the Boston Herald.
After last week's Supreme Court decision on inmates at Guant--namo Bay, White House spokesman Tony Snow said today, "We want to get it right." He released a Defense Department memo saying that terrorist suspects are entitled to the protections of the Geneva Conventions. As the Bush White House was reversing its stand, the Senate Judiciary Committee was taking its own look at last week's decision. Meantime, the horrors of the war in Iraq continue with release of a videotape on Islamic web sites purporting to show the mutilated bodies of two American soldiers kidnapped and killed last month south of Baghdad. At least 47 more people were killed in bombings and shootings around the country. The increased violence is creating an average of 90 new widows a day in Iraq. We update a Senate committee debate on what the rules ought to be for the treatment and trials of suspects in the war on terror and hear about the plight of Iraqi widows and the chance of help from Iraq's new laws and police forces amid sectarian differences.Reporter's Notebook: Indian Commuter Trains Bombed During Rush HourMumbai, formerly known as Bombay, is India's financial capital and one of its major cities. Today, its commuter rail network was hit with seven bombs in rapid succession. The latest death toll is 147, with more than 439 injured. India's major cities are on high alert and Prime Minister Manmohan Singh is placing the blame on "terrorists." Anuj Chopra reports for the Christian Science Monitor in southern India.