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.
Interpretation
The quote emphasizes the importance of considering the global impact of national policies.
Raghuram Rajan's quote highlights the necessity for nations, particularly the U.S., to be mindful of how their policies affect other countries. It advocates for a broader ethical perspective in governance, urging leadership to prioritize global welfare over narrow national interests, suggesting that a truly just policy should reflect kindness and responsibility towards the international community.
In practice
In a speech advocating for climate change action, this quote can emphasize the importance of international cooperation.
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.
Democratic accountability means that governments must be popularly accepted, with citizens empowered to replace corrupt or incompetent rulers.
We all have appointments with the past.
Morality is of the highest importance - but for us, not for God.
We have the universe to roam in in imagination. It is our virtue to be infinitely varied. The worst tyranny is uniformity.
But women do not say 'We', except at some congress of feminists or similar formal demonstration; men say 'women', and women use the same word in referring to themselves.
All human plans [are] subject to ruthless revision by Nature, or Fate, or whatever one preferred to call the powers behind the Universe.
People mistakenly assume that their thinking is done by their head; it is actually done by the heart which first dictates the conclusion, then commands the head to provide the reasoning that will defend it.
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