Raghuram Rajan — Debt, Monetary Policy, and Unintended Consequences

Richard Butler AC is a retired Australian diplomat. He served as Australia's first Ambassador for Disarmament (1983-1988), Australian Ambassador to the United Nations (1992-1997), and Chair of the United Nations Special Commission (UNSCOM) to inspect Iraq for weapons of mass destruction (1997-1999). He also served as Chair of the Canberra Commission on the Elimination of Nuclear Weapons. Earlier in his career, he was Chief of Staff to Leader of the Opposition, and former Prime Minister, Gough Whitlam (1975-1977). Butler played a crucial role in both the permanent extension of the Nuclear Non-Proliferation Treaty in 1995 and the adoption of the Comprehensive Nuclear-Test-Ban Treaty in 1996. His work helped establish the framework through which we still manage nuclear weapons risks today. This is his first ever podcast interview. Full transcript and research materials available here: https://josephnoelwalker.com/richard-butler-160/See omnystudio.com/listener for privacy information.

Larry Summers is a former US Treasury Secretary (1999-2001), Chief Economist at the World Bank (1991-1993), and Director of the National Economic Council under President Obama (2009-2010). He also served as President of Harvard University (2001-2006). Currently, he is the Charles W. Eliot University Professor at Harvard University, and he sits on the board of directors at OpenAI, one of the fastest-growing companies in history. Full transcript and video available at: https://josephnoelwalker.com/larry-summers-159/See omnystudio.com/listener for privacy information.

Nassim Taleb is trader, researcher and essayist. He is the author of the Incerto, a multi-volume philosophical and practical meditation on uncertainty. Full transcript available at: https://josephnoelwalker.com/nassim-taleb-158/See omnystudio.com/listener for privacy information.

Robert Boyd and Peter Richerson are anthropologists based in America. Their partnership was central to the development of Dual-Inheritance Theory, a framework that applies Darwinian evolution to culture and explains how genes and culture have intertwined to shape our species. This is their first ever joint interview. Full transcript available at: josephnoelwalker.com/boyd-and-richerson/See omnystudio.com/listener for privacy information.

Lucy Turnbull is an urbanist, businesswoman and philanthropist. She was the first female Lord Mayor of Sydney, from 2003-4. From 2015-20, she was the inaugural Chief Commissioner of the Greater Sydney Commission, tasked with delivering strategic planning for the whole of metropolitan Sydney.See omnystudio.com/listener for privacy information.

Bryan Caplan is Professor of Economics at George Mason University. A bestselling author, his books include The Case Against Education, Open Borders, and Build, Baby, Build: The Science and Ethics of Housing Deregulation. Full transcript available at: josephnoelwalker.com/bryan-caplan-155See omnystudio.com/listener for privacy information.

In this special episode, the tables are turned as I'm interviewed by a listener of the show, DJ Thornton from Sydney. We reflect on the progress of the show in 2023, what I learned from this year's guests, and what's in store for 2024. Full transcript available at: josephnoelwalker.comSee omnystudio.com/listener for privacy information.

At a time when the Enlightenment is under attack from without and within, I bring together two of the most thoughtful defenders of progress and reason, for their first ever public dialogue. Steven Pinker is the Johnstone Professor of Psychology at Harvard University. I think of him as providing the strongest empirical defence of the Enlightenment (as seen in his book Enlightenment Now). David Deutsch is a British physicist at the University of Oxford, and the father of quantum computing. I think of him as having produced the most compelling first principles defence of the Enlightenment (as seen in his book The Beginning of Infinity). Full transcript available at: https://josephnoelwalker.com/153-deutsch-pinker-dialogue.See omnystudio.com/listener for privacy information.

Shruti Rajagopalan is an Indian-American economist. She leads the Indian political economy research program and Emergent Ventures India at the Mercatus Center at George Mason University. She also hosts the Ideas of India podcast. Full transcript available at: jnwpod.comSee omnystudio.com/listener for privacy information.

What were the deep causes of the global financial crisis and great recession? Has unconventional monetary policy in the wake of the crisis done more harm than good? And should monetary policy target financial stability? I discuss these questions and more with Indian economist and Professor of Finance at the University of Chicago Raghuram Rajan. Raghuram Rajan was chief economist at the IMF from 2003 to 2006, and from 2013 to 2016 he was Governor of the Reserve Bank of India. As RBI Governor, he notably introduced India's inflation-targeting scheme, among many other achievements. Full transcript available at: josephnoelwalker.com/151-raghuram-rajanSee omnystudio.com/listener for privacy information.