Raghuram Rajan Quotes

I'm a great believer in the competitive system, and think that competition will bring us greater innovation and put American industry in information ahead of everyone also.

Technology enables consumers and investors to have extraordinary choice and ease of switching, which, in turn, stimulates much fiercer competition than ever before, which, in turn, makes it imperative for every institution to innovate like mad. That innovation is powering our economy these days, and it requires companies to find and utilize creative workers. That's the most important syllogism going; technology is embedded in that syllogism, but it's not as if we're seeing these productivity gains because of the technology.

The PC is successful because we're all benefiting from the competition with each other. If Twitter comes along, our games benefit. If Nvidia makes better graphics technology, all the games are going to shine. If we come out with a better game, people are going to buy more PCs.

America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.

What is innovation if not our ticket to every business interest in the world? It's the ticket to solving the world's problems - the energy problems, the pollution problems, the global warming problems. If it isn't for science and engineering, how will we compete in the new world?

How did the economy produce all these amazing things that we have around us - computers and cell phones and so on? There were a bunch of ideas, and the good ones grew and prospered. And the bad ones were pretty ruthlessly weeded out.

The comparison to the old world is something to get excited about. We have the potential for more choice and innovation, and a different regulatory environment that doesn't place as much weight on economic regulations of terms and conditions.

Cheap labor is not going to be the way we compete in the United States. It's going to be brain power.

As policymakers, we need to foster an environment that allows U.S.-based innovators and entrepreneurs to compete and to flourish. Excessive regulations and bureaucratic red tape dramatically increase the cost of doing business and create uncertainty for companies.

The problem with Myspace was always that it was never as strong a product as it needed to be. It left itself vulnerable to competition. It was only a matter of time before someone created something better.

Without competition, the spectacular development of technology that we have seen in the last one hundred years in this country would not have happened.

Out-innovating them is the way to beat China. And to do everything that we do in this country to support innovative policy, that drives innovation and new products and more jobs and creates jobs. You can't - you can't put a wall up around here. We tried that in the '30s. It didn't work.

The best industrial policy is competition.

Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by improving human capital, encouraging technological innovation, and spurring private-sector investment by increasing returns.

We need an economy that fosters and encourages competition and innovation.

We should raise fierce flames of innovations in the vanguard sectors, basic industrial sectors, and all other sectors of the national economy.

Open and fair competition within free markets encourages innovation, meaning fresh perspectives can be applied. The private sector also brings skills and knowledge to bear on what can often be complex issues.

Competition drives growth in the end as opposed to monopolies.

If you bet on Microsoft, you are not going to ask anymore, 'Hey, where is the innovation?' The challenge going forward is how do we keep up with it.

The Internet free marketplace is defined by fierce competition. And that competition has transformed the world with innovation, investment, and what we need most of all right now: jobs.

Competition-driven innovation and price pressure that commercial practices foster can only make human spaceflight ever more common and U.S. leadership in this domain ever clearer.

We expect a horse race, ... The reality is that competition drives all innovation. Intel did nothing with its 386 chip for five years until AMD introduced its own version in 1991.

Without competition we would be clinging to the clumsy antiquated processes of farming and manufacture and the methods of business of long ago, and the twentieth would be no further advanced than the eighteenth century.

In three years, every product my company makes will be obsolete. The only question is whether we will make them obsolete or somebody else will.

Competition is like experimentation in science, a discovery process, and it must rely on the self interest of producers, it must allow them to use their knowledge for their purposes, because nobody else possesses the information