--- title: "Meaning & Key Takeaway of: The first step to prescribing the right…" description: "\"The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, ext..." image: "https://sms4smile.com/quotes/i/ff7/raghuram-rajan-10594_economic-recovery_the-first-step-to-prescribing-the-right_621631.jpg" --- # The first step to prescribing the right medicine is to… ![“The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery…” quote by Raghuram Rajan](https://sms4smile.com/quotes/i/ff7/raghuram-rajan-10594_economic-recovery_the-first-step-to-prescribing-the-right_621631.jpg) [Download](https://sms4smile.com/quotes/i/ff7/raghuram-rajan-10594_economic-recovery_the-first-step-to-prescribing-the-right_621631.jpg) [Open image](https://sms4smile.com/quotes/i/ff7/raghuram-rajan-10594_economic-recovery_the-first-step-to-prescribing-the-right_621631.jpg) > “The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. The sooner we recognize that, the stronger and more sustainable the global economic recovery will be.” [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Effective solutions start with identifying the root cause; in the global economy, excessive monetary easing has been a problem rather than a fix. Recognizing this leads to stronger, sustainable recovery. **In simple terms:** Fix problems by first finding their cause. Key Takeaway Identify causes before prescribing solutions. Themes economics policy diagnosis recovery Mood critical concerned Type analytical insightful When to use this quote - central bank decisions - fiscal policy design - investment strategy - business planning Key Concepts monetary policy inflation financial stability structural reform Questions to Reflect On - What underlying issues are being masked? - How can policy balance stimulus and stability? A Different Perspective Addressing symptoms without root cause can worsen issues. ★ ★ ★ ★ ★ No ratings yet [Economic recovery](https://sms4smile.com/quotes/about/economic-recovery/) [First step](https://sms4smile.com/quotes/about/first-step/) [Global economy](https://sms4smile.com/quotes/about/global-economy/) [Medicine](https://sms4smile.com/quotes/about/medicine/) ## Related quotes > [The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the…](https://sms4smile.com/quotes/glenn-hubbard/the-obama-administration-s-attempted-short-term-fixes-even-with/) [Glenn Hubbard](https://sms4smile.com/quotes/author/glenn-hubbard/) > [Emerging market and developing economies have benefited from monetary easing in major economies but have also faced volatile risk sentiment tied to trade tensions.](https://sms4smile.com/quotes/gita-gopinath/emerging-market-and-developing-economies-have-benefited-from-monetary/) [Gita Gopinath](https://sms4smile.com/quotes/author/gita-gopinath/) > [“You’ll know if she’s doing them right,” the medicine cat called over her shoulder, “because she’ll complain!”](https://sms4smile.com/quotes/erin-hunter/you-ll-know-if-she-s-doing-them-right-the-medicine-cat-called-over/) [Erin Hunter](https://sms4smile.com/quotes/author/erin-hunter/) > [How small of all that human hearts endure/That part which laws or kings can cause or cure.](https://sms4smile.com/quotes/samuel-johnson/how-small-of-all-that-human-hearts-endure-that-part-which-laws-or-2/) [Samuel Johnson](https://sms4smile.com/quotes/author/samuel-johnson/) > [“How small, of all that human hearts endure, That part which laws or kings can cause or cure. Still to ourselves in every place…](https://sms4smile.com/quotes/samuel-johnson/how-small-of-all-that-human-hearts-endure-that-part-which-laws-or/) [Samuel Johnson](https://sms4smile.com/quotes/author/samuel-johnson/) > [It takes 50 years to get a wrong idea out of medicine, and 100 years a right one into medicine.](https://sms4smile.com/quotes/john-hughlings-jackson/it-takes-50-years-to-get-a-wrong-idea-out-of-medicine-and-100-years-a/) John Hughlings Jackson > [“You can't be the cause and the cure, mon amour.”](https://sms4smile.com/quotes/ahmed-mostafa/you-can-t-be-the-cause-and-the-cure-mon-amour/) [Ahmed Mostafa](https://sms4smile.com/quotes/author/ahmed-mostafa/) > [We have a pharmacy inside us that is absolutely exquisite. It makes the right medicine, for the precise time, for the right target organ—with…](https://sms4smile.com/quotes/deepak-chopra/we-have-a-pharmacy-inside-us-that-is-absolutely-exquisite-it-makes/) [Deepak Chopra](https://sms4smile.com/quotes/author/deepak-chopra/) > [ Love will break your heart,\[...\] but love can also mend it. Not many things in life are both the cause and the cure. ](https://sms4smile.com/quotes/lisa-kleypas/love-will-break-your-heart-but-love-can-also-mend-it-not-many-things/) [Lisa Kleypas](https://sms4smile.com/quotes/author/lisa-kleypas/) > [Books are medicine and you have to take the right medicine that you need at that moment or that day or that time in…](https://sms4smile.com/quotes/sandra-cisneros/books-are-medicine-and-you-have-to-take-the-right-medicine-that-you/) [Sandra Cisneros](https://sms4smile.com/quotes/author/sandra-cisneros/) > [Access to capital is critical for small business success and crucial to our economic recovery. Without access to capital, many small companies are not…](https://sms4smile.com/quotes/sam-graves/access-to-capital-is-critical-for-small-business-success-and-crucial/) [Sam Graves](https://sms4smile.com/quotes/author/sam-graves/) > [Raising taxes is the last thing we should do amid the weakest economic recovery since World War II. Unfortunately, even if we avoid the…](https://sms4smile.com/quotes/john-cornyn/raising-taxes-is-the-last-thing-we-should-do-amid-the-weakest/) [John Cornyn](https://sms4smile.com/quotes/author/john-cornyn/) > [Unless we address our unserved broadband challenges in our urban, suburban, and rural areas, we will not have equitable access for all and achieve…](https://sms4smile.com/quotes/ned-lamont/unless-we-address-our-unserved-broadband-challenges-in-our-urban/) [Ned Lamont](https://sms4smile.com/quotes/author/ned-lamont/) > [Our folks have a lot of passion. They're very concerned about the direction of the country and concerned the record debt and deficit and…](https://sms4smile.com/quotes/rob-portman/our-folks-have-a-lot-of-passion-they-re-very-concerned-about-the/) [Rob Portman](https://sms4smile.com/quotes/author/rob-portman/) > [The Child Care is Essential Act and the Child Care for Economic Recovery Act will deliver urgently-needed relief to providers and working families.](https://sms4smile.com/quotes/mikie-sherrill/the-child-care-is-essential-act-and-the-child-care-for-economic/) [Mikie Sherrill](https://sms4smile.com/quotes/author/mikie-sherrill/) ## More by Raghuram Rajan > [In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have…](https://sms4smile.com/quotes/raghuram-rajan/in-emerging-markets-slow-growth-in-the-advanced-economies-has-shut/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Democratic accountability means that governments must be popularly accepted, with citizens empowered to replace corrupt or incompetent rulers.](https://sms4smile.com/quotes/raghuram-rajan/democratic-accountability-means-that-governments-must-be-popularly/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Our actions will be at measured pace given the current market turmoil.](https://sms4smile.com/quotes/raghuram-rajan/our-actions-will-be-at-measured-pace-given-the-current-market-turmoil/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Capitalism’s biggest political enemies are not the firebrand trade unionists spewing vitriol against the system but the executives in pin-striped suits extolling the virtues…](https://sms4smile.com/quotes/raghuram-rajan/capitalism-s-biggest-political-enemies-are-not-the-firebrand-trade/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Indian cricket fans are manic-depressive in their treatment of their favorite teams. They elevate players to god-like status when their team performs well, ignoring…](https://sms4smile.com/quotes/raghuram-rajan/indian-cricket-fans-are-manic-depressive-in-their-treatment-of-their/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [I don't think policy makers surprise unnecessarily. You don't pick surprise as a part of your policy. Markets value a certain amount of predictability.…](https://sms4smile.com/quotes/raghuram-rajan/i-don-t-think-policy-makers-surprise-unnecessarily-you-don-t-pick/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [A monopoly is like running on firm ground. Nothing compels you to move, but if you do, you move forward. The faster you run,…](https://sms4smile.com/quotes/raghuram-rajan/a-monopoly-is-like-running-on-firm-ground-nothing-compels-you-to-move/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Strong government doesn't mean simply military power or an efficient intelligence apparatus. Instead, it should mean effective, fair administration - in other words, 'good…](https://sms4smile.com/quotes/raghuram-rajan/strong-government-doesn-t-mean-simply-military-power-or-an-efficient/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Everyone may have some advise for the RBI. Some may advise, 'Cut your lending rates and raise the deposit rate.' How will a bank…](https://sms4smile.com/quotes/raghuram-rajan/everyone-may-have-some-advise-for-the-rbi-some-may-advise-cut-your/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [I have said repeatedly that the way to sustainable growth is to bring down inflation to much more reasonable levels.](https://sms4smile.com/quotes/raghuram-rajan/i-have-said-repeatedly-that-the-way-to-sustainable-growth-is-to-bring/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [I am not a 'doom and gloom' guy.](https://sms4smile.com/quotes/raghuram-rajan/i-am-not-a-doom-and-gloom-guy/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [In India, we say one thing, and we do something else.](https://sms4smile.com/quotes/raghuram-rajan/in-india-we-say-one-thing-and-we-do-something-else/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Endorsing unconventional monetary policies unquestioningly is tantamount to saying that it is acceptable to distort asset prices if there are other domestic constraints on…](https://sms4smile.com/quotes/raghuram-rajan/endorsing-unconventional-monetary-policies-unquestioningly-is/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [The more that everyone has access to the same educational opportunities, the more society will tend to accept some receiving disproportionate rewards. After all,…](https://sms4smile.com/quotes/raghuram-rajan/the-more-that-everyone-has-access-to-the-same-educational/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Every adverse development across the world affects the rest of the world in some way.](https://sms4smile.com/quotes/raghuram-rajan/every-adverse-development-across-the-world-affects-the-rest-of-the/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) [Explore all 64 Raghuram Rajan quotes ](https://sms4smile.com/quotes/author/raghuram-rajan/) ## More Economic recovery quotes > [The Child Care is Essential Act and the Child Care for Economic Recovery Act will deliver urgently-needed relief to providers and working families.](https://sms4smile.com/quotes/mikie-sherrill/the-child-care-is-essential-act-and-the-child-care-for-economic/) [Mikie Sherrill](https://sms4smile.com/quotes/author/mikie-sherrill/) > [Our folks have a lot of passion. They're very concerned about the direction of the country and concerned the record debt and deficit and…](https://sms4smile.com/quotes/rob-portman/our-folks-have-a-lot-of-passion-they-re-very-concerned-about-the/) [Rob Portman](https://sms4smile.com/quotes/author/rob-portman/) > [Unless we address our unserved broadband challenges in our urban, suburban, and rural areas, we will not have equitable access for all and achieve…](https://sms4smile.com/quotes/ned-lamont/unless-we-address-our-unserved-broadband-challenges-in-our-urban/) [Ned Lamont](https://sms4smile.com/quotes/author/ned-lamont/) > [Raising taxes is the last thing we should do amid the weakest economic recovery since World War II. Unfortunately, even if we avoid the…](https://sms4smile.com/quotes/john-cornyn/raising-taxes-is-the-last-thing-we-should-do-amid-the-weakest/) [John Cornyn](https://sms4smile.com/quotes/author/john-cornyn/) > [Access to capital is critical for small business success and crucial to our economic recovery. Without access to capital, many small companies are not…](https://sms4smile.com/quotes/sam-graves/access-to-capital-is-critical-for-small-business-success-and-crucial/) [Sam Graves](https://sms4smile.com/quotes/author/sam-graves/) > [It's a different kind of economic recovery. The kind where bankers steal trillions and you don't have a job.](https://sms4smile.com/quotes/alex-jones/it-s-a-different-kind-of-economic-recovery-the-kind-where-bankers/) [Alex Jones](https://sms4smile.com/quotes/author/alex-jones/) > [Donald Trump is producing the kind of shoot-the-moon economic recovery that we last saw under Ronald Reagan in the 1980s. He's copied a lot…](https://sms4smile.com/quotes/stephen-moore/donald-trump-is-producing-the-kind-of-shoot-the-moon-economic/) [Stephen Moore](https://sms4smile.com/quotes/author/stephen-moore/) > [You know, when I made a series of overtures to the Republicans, going over to meet with both Republican caucuses, you know, putting three…](https://sms4smile.com/quotes/barack-obama/you-know-when-i-made-a-series-of-overtures-to-the-republicans-going/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes.](https://sms4smile.com/quotes/ben-bernanke/in-the-typical-economic-recovery-a-resurgent-housing-sector-helps/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses.](https://sms4smile.com/quotes/jon-huntsman-jr/but-economic-recovery-must-be-earned-and-it-will-be-earned-by/) [Jon Huntsman, Jr](https://sms4smile.com/quotes/author/jon-huntsman-jr/) > [Every month that we do not have an economic recovery package 500 million Americans lose their jobs.](https://sms4smile.com/quotes/nancy-pelosi/every-month-that-we-do-not-have-an-economic-recovery-package-500/) [Nancy Pelosi](https://sms4smile.com/quotes/author/nancy-pelosi/) > [If we are going to continue our path to economic recovery, if we're going to continue our strong health response, I'm asking Queenslanders for…](https://sms4smile.com/quotes/annastacia-palaszczuk/if-we-are-going-to-continue-our-path-to-economic-recovery-if-we-re/) [Annastacia Palaszczuk](https://sms4smile.com/quotes/author/annastacia-palaszczuk/) > [In the midst of economic recovery and global upheaval, disasters like this remind us of the common humanity that we share.](https://sms4smile.com/quotes/barack-obama/in-the-midst-of-economic-recovery-and-global-upheaval-disasters-like/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [We've seen the weakest economic recovery since World War II, and massive levels of inequality and debt.](https://sms4smile.com/quotes/kshama-sawant/we-ve-seen-the-weakest-economic-recovery-since-world-war-ii-and/) [Kshama Sawant](https://sms4smile.com/quotes/author/kshama-sawant/) > [The problem of Italy is not really a question of age. Japan has an older population, and it is now in full economic recovery.…](https://sms4smile.com/quotes/romano-prodi/the-problem-of-italy-is-not-really-a-question-of-age-japan-has-an/) [Romano Prodi](https://sms4smile.com/quotes/author/romano-prodi/) [Browse all 69 Economic recovery quotes ](https://sms4smile.com/quotes/about/economic-recovery/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The first step to prescribing the right medicine is to recognize the cause of the illness. And, when it comes to what is ailing the global economy, extreme monetary easing has been more cause than cure. 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