Let us face it...Modi's biggest blunder was demonetization. And Rajan would not have agreed for that, so Modi brought in Patel.
As on Rajan, I am not sure he would get the Nobel Prize. Stewart Myers or Jensen are better candidates. By the way, Rajan was the guest when I was matriculating from my university. I did talk with him, but never though he was a rock star in the world of finance. This was all before he was to become India's RBI governor.
Demonetization is a very good step taken by the Indian Establishment which has mainly to clamp down the proxy funding. Fake currency supply routes have been identified by the Indian Intelligence agencies and many have been arrested linked to fake currency routes, weapons smuggling routes , narcotics smuggling routes, animal smuggling routes, fuel smuggling routes and prostitution rings around the border areas.
How does a RBI governor give loans ??
Those are trade bonds .
your whole problem is state owned banks. privatize them. you won't have any such questions
Privatization of banks is not good because banks are nationalised .
When he was talking, he was talking as an individual citizen who was concerned about the country. But even Modi will agree that Rajan was a good RBI governor. He was replaced because of demonetization.
Politicians and corrupt bank officials are responsible for loans to Vijay Malya not RBI.
Raghuram Rajan Sahab services are always there and you really doesnt seems to understand how things are worked out in Indian Establishment.
Regarding loans to Kingfisher airlines it was mainly because of privitzation of airlines and involving foreign airlines in Indian domestic market.
http://www.thehindu.com/business/Ec...rd-h-thaler/article19828145.ece?homepage=true
STOCKHOLM , October 09, 2017 15:18 IST
Updated: October 09, 2017 19:43 IST
The American professor's research was on how human traits systematically affect individual decisions as well as market outcomes.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 was awarded to Richard H. Thaler ''for his contributions to behavioural economics.''
Dr. Thaler (72) has incorporated psychologically realistic assumptions into analyses of economic decision-making, a media release by Royal Swedish Academy of Sciences said.
"By exploring the consequences of
limited rationality, social preferences, and
lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes," it said.
Dr. Thaler's contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of
behavioural economics, which has had a profound impact on many areas of economic research and policy, it said.
Explaining Richard H. Thaler's Economics Nobel-winning effort
Dr. Thaler is a Professor of Behavioral Science and Economics at University of Chicago Booth School of Business. He is the co-author (with Cass R. Sunstein) of the global best seller
Nudge (2008) in which the concepts of behavioral economics are used to tackle many of society’s major problems.
Speaking to journalists over teleconference, Dr. Tahler said his works emphasise that economic agents are human and economic models have to incorporate that.
The Prize was first awarded in 1969, nearly seven decades after the series of prestigious prizes that Nobel called for. Despite its provenance and carefully laborious name, it is broadly considered an equal to the other Nobel and the winner attends the famed presentation banquet.
The winner will walk away with 9-million-kronor ($1.1-million) prize.
Last year, Oliver Hart and Bengt Holmström shared the prize for their contributions to contract theory.
Indian economist Amartya Sen won the Nobel in 1998 for his contributions to welfare economics.
