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

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The Third Pillar: How Markets and the State Leave the Community Behind is a book by economist Raghuram Rajan that argues for restoring the role of local communities as a counterbalance to the power of markets and the state in modern society.

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Predicate Object
instanceOf book
advocates policies that support community-based solutions
strengthening local civic institutions
subsidiarity in governance
author Raghuram G. Rajan NERFINISHED
Raghuram Rajan NERFINISHED
centralConcept three pillars of society
countryOfOrigin United States of America
surface form: United States
criticizes excessive faith in unfettered markets
over-centralization of political power
top-down technocratic policymaking
describes community as one pillar of society
market as one pillar of society
state as one pillar of society
examines historical evolution of the relationship between markets, state, and community
impact of technology and globalization on communities
rise of populism in advanced economies
role of education and skills in community resilience
genre economics
non-fiction
political economy
public policy
language English
mainSubject community institutions
democracy
financial crises
globalization
inequality
local communities
markets
populism
social cohesion
state
notableFor argument that community has been neglected in modern policy debates
framework of three pillars: state, markets, and community
originalPublisher Penguin Press NERFINISHED
proposes decentralization of power
re-empowering local communities
reforms to make markets more inclusive
reforms to make the state more responsive to communities
targetAudience economists
general readers interested in economics and politics
policy makers
thesis ignoring the community leads to social and political backlash
markets and the state have grown at the expense of local communities
strong local communities are necessary to balance markets and the state

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