366. This Economist Predicted the Last Crisis. What’s the Next One?
366. This Economist Predicted the Last Crisis. What’s the Next One?
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In 2005, Raghuram Rajan said the financial system was at risk “of a catastrophic meltdown.” After stints at the I.M.F. and India’s central bank, he sees another potential crisis — and he offers a solution. Is it stronger governments? Freer markets? Rajan’s answer: neither.