Not a Dove or Hawk but RaRa avis!

RBI governor Raghuram Rajan’s aversion to avian analogies is quite understandable. Such similes are for the birds, if not for bird brains. There may not be a consensus on whether his arrival at RBI was a black swan event, but he is undeniably a rara avis – a rare bird – being the only incumbent of that august position to rival cricketers and filmstars in the pecking order of celebrity ‘hot’ lists these days, though they certainly aren’t birds of a feather. And while the Gorgeous Guv has plenty of pluck and a penchant for ruffling a few feathers when situations demand, he cannot be accused of winging it or chickening out when it comes to monetary policies. On the contrary, like the legendary Arjuna, the unflappable Rajan appears to have his metaphorical policy bow-and-arrow fixed firmly on the inflationary bird’s eye.

Rajan must be aware that analogies – avian and animal – go with the job. Doves, hawks, bears and bulls are the creatures most oft-quoted in relation to money, markets and economics; but there are also hogs, sheep, lions and wolves. It is not difficult for lay people to understand their inclinations, given those species’ well-known characteristics. Problems arise only when an occasional inter-species hybrid comes into play: a hawkish bull, doveish bear or a bull-headed hawk bearing a grudge...