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

by Raghuram G. Rajan

With connectivity, a whole variety of economic activities becomes possible. For instance, with broadband connectivity, and with the support of logistics firms to transport goods quickly, small handicraft makers in remote rural areas can advertise their wares on e-commerce platforms, thus reaching a global market. Retired schoolteachers can remain engaged by tutoring children in the community without leaving home, music teachers can have pupils around the world, while angel investors from elsewhere can mentor local entrepreneurs. The death of distance makes so much more possible in remote communities. Connection to the national market also ensures communities are connected with one another.

Connectivity & e commerce