How do we get more politicians to move from 'fixing' the system to reforming the system? The obvious answer is to either improve the quality of public services or reduce the public's dependence on them. Both approaches are necessary.
Interpretation
The quote suggests that effective political change requires both improving public services and reducing reliance on them.
Raghuram Rajan emphasizes the need for politicians to transition from merely fixing the existing system to pursuing meaningful reform. This involves enhancing the quality of public services provided to citizens while simultaneously encouraging a shift away from over-dependence on these services. Ultimately, true reform encompasses both improving what exists and fostering independence among the public.
In practice
This quote could be used in a political debate to emphasize the need for reform.
The U.S. should worry about the effects of its polices on the rest of the world. We would like to live in a world where countries take into account the effect of their policies on other countries and do what is right, broadly, rather than what is just right given the circumstances of that country.
Customers often value a good more when its price goes up. One reason may be its signaling value. An expensive handcrafted mechanical watch may tell time no more accurately than a cheap quartz model; but, because few people can afford one, buying it signals that the owner is rich.
The problem with forbearance is that it always looks like a good thing to do until it stops working.
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.
Too many years away from academia renders you pretty incompetent at research and teaching. So I had to go back.
The gap in India has always been between the promise and the execution.
It is to be the assent and ratification of the several States, derived from the supreme authority in each State, the authority of the people themselves. The act, therefore establishing the Constitution, will not be a NATIONAL, but a FEDERAL act.
I'm not saying Obama is right on everything. Of course not. He may be wrong on a number of things. But what I do know is that he behaves like a very, very sane man almost all the time.
The 20th century shows that the form of government that we take for granted, a constitutional democratic republic with checks and balances and a rule of law - that form of government is usually temporary.
There is no sea more dangerous than the ocean of practical politics none in which there is more need of good pilotage and of a single, unfaltering purpose when the waves rise high.
If there's another 9/11 or a major war in the Middle-East involving a U.S. attack on Iran, I have no doubt that there will be, the day after or within days an equivalent of a Reichstag fire decree that will involve massive detentions in this country.
Mr. President, you’re entitled as a president to your own airplane, and to your own house, but not to your own facts.
Subscribe for the occasional hand-picked quote. No noise.