About this episode

Raghuram Rajan discusses corporate governance, community importance, and the political economy in a conversation with Ben Krause.

In this Extra Slice of The Pie, guest host Ben Krause sits down with Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, for a wide-ranging conversation on everything from what 25,000 CEO letters reveal about corporate America's shift from maximizing shareholder value to prioritizing customers and employees, to why communities matter as much as markets and the state, the political equilibrium that determines whether societies thrive or collapse, how inequality drove the 2008 financial crisis, and why AI could create catastrophic outcomes without better support for workers. Rajan reflects on his path from observing development gaps as a child to prescient warnings about financial crises, explains why modern firms are fundamentally about managing power struggles between stakeholders, and makes the case for "inclusive localism," or, empowering communities while keeping borders open to competition.

People in this episode

Host: Ben Krause

Guest: Raghuram Rajan

Topics covered

• corporate governance
• political economy
• community empowerment
• financial crises
• inequality
• AI and labor

Keywords

• CEO letters
• shareholder value
• inclusive localism
• financial crisis
• AI impact
• community
• stakeholders

Mentioned in this episode

Organizations: Chicago Booth, Becker Friedman Institute

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