Raghuram G. Rajan Quotes
Our Goal Should Be To Make Decision Makers Internalize The Full Consequences Of Their Decisions, Rather Than Prevent Them From Making Decisions Altogether [...] But We Tend To Reform Under The Delusion That The Regulated Institutions And The Markets They Operate In Are Static And Passive, And That The Regulatory Environment Will Not Vary With The Cycle. Ironically, Faith In Draconian Regulation Is Strongest At The Bottom Of The Cycle, When There Is Little Need For Participants To Be Regulated. By Contrast, The Misconception That Markets Will Govern Themselves Is Most Widespread At The Top Of The Cycle, At The Point Of Maximum Danger To The System. We Need To Acknowledge These Differences And Enact Cycle-proof Regulation, For A Regulation Set Against The Cycle Will Not Stand. To Have A Better Chance Of Creating Stability Throughout The Cycle--of Being Cycle-proof--new Regulations Should Be Comprehensive, Nondiscretionary, Contingent, And Cost-effective.
Related Authors
- Brian P. Moran
- Cynthia Briggs
- Faizon Love
- Florence Harding
- Georg Friedrich Handel
- Ian Campbell Ross
- J 'son M. Lee
- Jillian Hunter
- Kelley Kenney
- Mark Clapham
- Marta Traba
- Shane Joseph
Related Topics
-
Quotes About Being Well Known
I do not define time, space, place, and motion, as being well known to all. Only I must observe, that the common people conceive those quantities under no other notions — Isaac Newton
-
Quotes About A Father And Husband
Her father said, "You know, my dears, the world has been abnormal for so long that we've forgotten what it's like to live in a peaceful and reasonable climate. If — Madeleine L'Engle
-
Best Bounce Back Quotes
The best protection against propaganda of any sort is the recognition of it for what it is. Only hidden and undetected oratory is really insidious. What reaches the heart without — Mortimer J. Adler
-
Endangered Elephant Quotes
Workable solutions for Earth are urgently needed. Saving seals and tigers, or fighting yet another oil pipeline through a wilderness area, while laudable, is merely shuffling the deck chairs on — Lawrence Anthony
-
Too Complacent Quotes
What I love about the thriller form is that it makes you write a story. You can't get lost in your own genius, which is a dangerous place for writers. — Harlan Coben