Better Quote by Raghuram Rajan
“If developed countries' citizens want to feel slightly better about their economies' slow growth and high unemployment, they should contemplate how much worse matters could be without the institutions that they have.”
About This Quote
Source Speech: Remarks at IMF/World Bank Spring Meetings, 2016
Recognizing that economic woes feel less severe when compared to a scenario without key institutions.
In simple terms: Institutions soften economic pain.
Key Takeaway
Appreciate and protect existing institutions.
Themes
economics
institutions
perspective
Mood
reflective
analytical
Type
analytical
economic
When to use this quote
- policy debate
- public discourse
- economic forecasting
- education
- media
Key Concepts
comparative analysis
institutional economics
Questions to Reflect On
- How would you assess the value of institutions in your daily life?
- What risks arise from taking institutions for granted?
A Different Perspective
May overlook systemic flaws that institutions themselves can cause.
