Politicians know that structural reforms - to increase competition, foster innovation, and drive institutional change - are the way to tackle structural impediments to growth. But they know that while the pain from reform is immediate, gains are typically delayed and their beneficiaries uncertain.
Tags: competition, pain, growth, change

Other Quotes by "Raghuram Rajan"

We should make sure that unscrupulous schools do not prey on uninformed students, leaving them with high debt and useless degrees.
Tags: leaving, high, debt, useless
The difficulty in a number of Western democracies is that the playing field is being tilted. For many in the middle class, prosperity seems unattainable because a good education - today's passport to riches - is unaffordable.
Tags: being, today, good, education
The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down.
Tags: always, will, government, you
To ensure stable and sustainable economic growth, world leaders must re-examine the international rules of the monetary game, with advanced and emerging economies alike adopting more mutually beneficial monetary policies.
Tags: more, game, world, growth
Perhaps the hardest challenge has been to persuade the public, impatient for rapid growth, of the need to ensure stability first. Growth, it is argued, is always more important, regardless of the looming economic risks.
Tags: always, risks, challenge, growth
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