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The Third Pillar: How Markets and the State Leave the Community Behind, by Raghuram G. Rajan

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Since the debt contract is written down, it is not dependent on the frailty of human or community memory. Favors can be forgotten—debt cannot.

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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 G. Rajan

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