The Third Pillar: The Revival of Community in a Polarised World
From one of the most important economic thinkers of our time, a brilliant and far-seeing analysis of the current populist backlash against globalization and how revitalising community can save liberal market democracy.
Raghuram Rajan, author of the 2010 FT & Goldman-Sachs Book of the Year Fault Lines, has an unparalleled vantage point onto the social and economic conse...more
Dr Rajan is a celebrity economist, a renowned central bank governo ...more
There is an entire literature on what might be called global political economy that covers the current state of macroeconomics, current political messes (such as the US elections, etc.), global trends in the state of work and employment, trends and t ...more
Update, January 2020 —
The Economist cites the author in their article, Free exchange Economists grapple with rising Amer ...more
There are several history chapters at the beginning that describe the origins of Western political systems. But every adult that picks up this book is already familiar with this history. Unless these chapters ar ...more
In the 2nd part, he deals with the current wave of populist nationalism and talks of why it has become popular and its dangers while oft citing from multiple studies ...more
* Well researched book. Neatly explains the three pillars - state, market and communities. Gives a good history of how they emerged and how historically the society took measures to restore balance amongst them.
* Book has been sprinkled with anecdotes which explain how the empowering the communities have resulted in keeping the state and markets at check. The examples are simple and easy to understand and illustrate Rajan's point well
* The book spends fair amount of time trying to explain ...more
The book attempts to describe the evolution of the three pillars of world order. The nation state, the markets and the community (people)!
Traditionally community and markets were close and coexisted with tributes paid to governments. The community relationships were symbiotic and interdependent and well defined, now comes changes in property owners ...more
He goes on to explain and demonstrate how the central pillars of our society are out of balance today. Rising inequalities and growing class resentment are undermining communities around the world. This is fertile ground for populist insurgents. But their ideal of state-backed nationalism doesn’ ...more
The book does a good job of laying the story of how capitalism evolved, mostly woven around the British empires of the previous millennium. The concepts ...more
The three pillars Rajan refers to are, broadly, the state, the market, and the community. More or less, these refer to wh ...more
Raghuram Rajan is known for spotting fault lines that are 'invisible' in plain sight. After his acclaimed books on capitalism and the cracks within, he now turns to a new area of focus: flashpoints in society wrought by the shifts in people, markets, technology ...more
The manner in which the content is structured makes for easy fluid reading for a heavy economics thesis but Raghuram Rajan is very crisp and eloquent with how he shares his thoughts hitting home on the divergence of Markets , the State and we the community. He derives from history various factors that lead what we see today and provide ...more
In this tome, he acquires the professorial avatar to which he has retreated after quitting the ...more
Raghuram Rajan in the book The Third Pillar focuses on the ...more
Rajan sees the rise of populism throughout the world, and catalogs some of the anger and neglect behind it - growing income inequality, fears of rapid change, and especially strong states, strong markets, and weak local communities. Important decisions and trends that impact people's perceptions of themselves and their world, as well as people's ...more