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

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

by Raghuram Rajan


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Product Details

ISBN-13: 9780525558316
Publisher: Penguin Publishing Group
Publication date: 02/26/2019
Pages: 464
Sales rank: 63,930
Product dimensions: 6.00(w) x 9.40(h) x 1.80(d)

About the Author

Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He was the 23rd Governor of the Reserve Bank of India between September 2013 and September 2016. Euromoney magazine named him Central Banker of the Year in 2014. Between 2003 and 2006, Dr. Rajan was the Chief Economist at the International Monetary Fund. He co-authored Saving Capitalism from the Capitalists with Luigi Zingales in 2003. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010. Learn more about Dr. Rajan and his books at

Table of Contents

Preface xi

Introduction: The Third Pillar 1

Part I How The Pillars Emerged

1 Tolerating Avarice 29

2 The Rise of the Strong but Limited State 51

3 Freeing the Market … Then Defending It 77

4 The Community in the Balance 107

Part II Imbalance

5 The Pressure to Promise 145

6 The ICT Revolution Cometh 175

7 The Reemergence of Populism in the Industrial West 213

8 The Other Half of the World 245

Part III Restoring The Balance

9 Society and Inclusive Localism 289

10 Rebalancing the State and the Community 303

11 Reinvigorating the Third Pillar 327

12 Responsible Sovereignty 349

13 Reforming Markets 373

Epilogue 393

Acknowledgments 399

Notes 401

Index 423

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