Capitalisn’t: Raghuram Rajan’s Vision of an Indian Path to Development
Chicago Booth’s Raghuram G. Rajan explains why India’s strengths play to services-based development.
Capitalisn’t: Raghuram Rajan’s Vision of an Indian Path to DevelopmentIn the private sector, salary is one of an employer’s most effective tools for attracting top talent. Does the same hold for legislators? A group of researchers including Chicago Booth’s Emir Kamenica examined how a change in compensation affected the willingness of members of the European Parliament (MEPs) to run for reelection. They find that better pay had a significant effect on MEPs’ interest in being reelected—but only for those with a relatively poor education, who also tend to be less productive than their colleagues.
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Chicago Booth’s Raghuram G. Rajan explains why India’s strengths play to services-based development.
Capitalisn’t: Raghuram Rajan’s Vision of an Indian Path to DevelopmentThe cost of this medical coverage weighs more heavily on workers who earn less.
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