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FT News Briefing

Martin Wolf and Raghuram Rajan on democracy’s year of peril

Jun 16, 2024
Raghuram Rajan, a distinguished professor at the University of Chicago and former RBI governor, joins renowned economist Martin Wolf to analyze the current state of global democracy. They discuss India's recent election results and the importance of a robust opposition to counteract rising authoritarianism. Rajan emphasizes the need for accountability in governance and critiques the disconnect between government narratives and public concerns. The conversation also touches on India's economic aspirations and the dynamics affecting democracies worldwide.
42:47

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Quick takeaways

  • Despite Modi's weak election victory, Indian democracy shows the demand for change and the significance of a strong opposition.
  • Financial transparency challenges in Indian democracy are highlighted by asymmetric political funding and ruling party's influence in securing financial support.

Deep dives

Raghuram Rajan on the Indian Election Results

Raghuram Rajan shares insights on the recent Indian election results, highlighting the significance of a strong opposition and the electorate's demand for change despite Modi's popularity. He emphasizes the importance of a balance in democracy, reflecting on the impact of asymmetrical election dynamics and voters' dissatisfaction despite the ruling party's influence.

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