The Third Pillar by Raghuram G. Rajan
How Markets and the State Leave the Community Behind
Argues that healthy societies require a balance among markets, the state, and local communities — with community institutions acting as the social “root” that anchors economic activity — and warns that globalization, technological change, and financialization have eroded those roots, widened inequality, and fueled populist backlash; to repair this, the book recommends policy and institutional reforms that strengthen local social and economic institutions, promote inclusive entrepreneurship and retraining, improve housing and infrastructure, and realign markets and government to support shared prosperity and democratic stability.
- Published
- 2019
- Nationality
- Indian
- Length
- Medium
- Pages
- 320
- Original Language
- English
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- Alternate Titles
- None
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