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.

Raghuram Rajan, an esteemed academic and policymaker, shares insights from his book on the vital interaction between the state, markets, and communities. He discusses the pressing issue of empowering local communities while navigating global challenges. Rajan critiques the U.S. financial system's recovery, compares community dynamics between India and the U.S., and navigates India's unique food system. He emphasizes the importance of grassroots engagement in evolving capitalism and ponders the future of democracy and economic equality.