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This Economist Predicted the Last Crisis. What’s the Next One?
Podcast

This Economist Predicted the Last Crisis. What’s the Next One?

Freakonomics Radio

Stephen J. Dubner
Freakonomics, 2019
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Editorial Rating

8

Qualities

  • Visionary
  • Engaging
  • Insider's Take

Recommendation

Some three years before the 2008 crisis hit, economist Raghuram Rajan cautioned the world about cracks in the financial system that few others were seeing. In this revealing interview on the Freakonomics Radio podcast, the University of Chicago professor and former chief economist for the International Monetary Fund sounds a warning call about new risks, including the rise of populism and a growing distrust of government and the leaders who guide democracies. His ideas for dealing with those threats present readers some important food for thought

Take-Aways

  • As one of the few economists who warned in 2005 of the potential for a financial system meltdown, Raghuram Rajan has concerns in 2019 that are worth hearing.
  • While consumers have reined in borrowing since the 2008 crisis, corporate debt has risen from $5 trillion in 2007 to more than $9 trillion in 2018.
  • Rajan posits that two of the three pillars of society are efficient markets and a well-run state. They receive a lot of attention.

About the Podcast

Freakonomics Radio, an award-winning podcast exploring "the hidden side of everything." Host Stephen J. Dubner is co-author of the Freakonomics books. His guest Raghuram Rajan is the author of The Third Pillar and an economist and professor at the University of Chicago.

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