Science and Democracy, a lecture series aimed at exploring both the promised benefits or
our era's most salient scientific and technological breakthroughs and the potentially
harmful consequences of developments that are inadequately understood, debated, or managed
by politicians, lay publics, and policy institutions.
Raghuram Rajan
Eric J. Gleacher Distinguished Service Professor of Finance, the University of Chicago
Booth School of Business
"Fault Lines: How Hidden Fractures Still Threaten the World Economy"
Panelists
Suzanne Berger, Raphael Dorman and Helen Starbuck Professor of Political Science, MIT
Frank Dobbin, Professor of Sociology, Harvard
Niall Ferguson, Laurence A. Tisch Professor of History and William Ziegler Professor of
Business Administration, Harvard Business School
Moderated by
Sheila Jasanoff, Pforzheimer Professor of Science and Technology Studies, Harvard Kennedy
School
TODAY
5:00 - 7:00p
Piper Auditorium
Gund Hall, GSD
48 Quincy Street
Harvard University
As the world struggles to recover from the economic crisis of 2008, it is tempting to
blame the events on a few greedy bankers who took irrational risks and left the rest of us
to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also
to blame, and warns that a potentially more devastating crisis awaits us if they are not
fixed. He traces the deepening fault lines in a system overly dependent on American
consumption to power the world economy and stave off a global downturn; a system where
America's thin social safety net has created tremendous political pressure to keep
job creation robust, because jobs are the primary provider of health and other benefits;
and where the U.S. financial sector, with its skewed incentives, is the critical but
unstable link between an overstimulated America and an underconsuming world. In
conclusion, he outlines sensible reforms to ensure a more stable world economy and to
restore lasting prosperity.
Raghuram Rajan is Eric J. Gleacher Distinguished Service Professor of Finance at the
University of Chicago Booth School of Business. He served as Chief Economist at the
International Monetary Fund between 2003 and 2006. He as worked as a consultant for the
Indian Finance Ministry, World Bank, Federal Reserve Board, Swedish Parliamentary
Commission, and various financial institutions. Rajan is the author, along with fellow
Chicago Booth faculty member Luigi Zingales, of the book, Saving Capitalism from the
Capitalists. In 2003, he received the inaugural Fischer Black Prize, which is awarded by
the American Finance Association for the person under 40 who has contributed the most to
the theory and practice of finance. He received his bachelor’s degree from the Indian
Institution of Technology in Delhi in 1985, and an MBA from the Indian Institution of
Management in 1987. Rajan received his PhD from the Massachusetts Institute of Technology
in 1991.
This event is organized by the Program on Science, Technology, and Society, at the Harvard
Kennedy School and co-sponsored by the School of Engineering and Applied Sciences, the
Graduate School of Design, the South Asia Initiative at Harvard, and the Harvard
University Center for the Environment. For more information on Science, Technology, and
Society events at Harvard University, please visit:
www.ksg.harvard.edu/sts/. This lecture
and panel is free and open to the public.
Contact:
Lisa Matthews
Events Coordinator
Harvard University Center for the Environment
24 Oxford Street
Cambridge, MA 02138
lisa_matthews(a)harvard.edu
p. 617-495-8883
f. 617-496-0425
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