Books
topics
Social Sector Policy, Sustainable Development
economies
Global, China, India
languages
English
By
Raghuram Rajan (Penguin Random House)
Released
February 2019

The Third Pillar: How Markets and the State Leave the Community Behind

Raghuram Rajan (Penguin Random House)

This book provides a big picture analysis of the three pillars that support societies—markets, the state, and communities—and how they interact. It pinpoints the neglect of communities as the cause of modern discontent. This is illustrated through examples in history where shifts in technology, economic and political forces have further alienated communities, leading to wealth inequalities, and spurring the rise of populism and political radicalization. The book argues for a rethinking of the relationship between markets and civil society, and advocates for strengthening local communities to remedy the imbalance in society’s pillars. Read it here.