The economist Raghuram Rajan is gravely concerned by the rise of populism around the world — on both the left and the right. (Photo: Ella87/Pixabay)
In 2005, Raghuram Rajan said the financial system was at risk “of a catastrophic meltdown.” After stints at the I.M.F. and India’s central bank, he sees another potential crisis — and he offers a solution. Is it stronger governments? Freer markets? Rajan’s answer: neither.