The cover of The Third Pillar

The Third Pillar

Why have many workers in rich countries lost hope even as the world has grown richer, and what can restore balance?

At a glance

Author
Raghuram G. Rajan

Why read it

  • You will understand society as three pillars, the state, markets and the community, that must be kept in balance
  • You will question the view that trade is the main reason for job losses, since the author argues technology matters more
  • You will see through populist answers from left and right that blame someone else and push the burden of change elsewhere

Who it is for

  • A voter puzzled by the rise of populist politics
  • A policy reader weighing markets against government and community
  • A local leader worried about a town losing jobs and hope

Contents

  1. PREFACE
  2. INTRODUCTION
  3. THE THIRD PILLAR
  4. PART I
  5. HOW THE PILLARS EMERGED
  6. TOLERATING AVARICE
  7. THE RISE OF THE STRONG BUT LIMITED STATE
  8. FREEING THE MARKET . . . THEN DEFENDING IT
  9. THE COMMUNITY IN THE BALANCE
  10. PART II
  11. IMBALANCE
  12. THE PRESSURE TO PROMISE
  13. THE ICT REVOLUTION COMETH
  14. THE REEMERGENCE OF POPULISM IN THE INDUSTRIAL WEST
  15. THE OTHER HALF OF THE WORLD
  16. PART III
  17. RESTORING THE BALANCE
  18. SOCIETY AND INCLUSIVE LOCALISM
  19. REBALANCING THE STATE AND THE COMMUNITY
  20. REINVIGORATING THE THIRD PILLAR
  21. RESPONSIBLE SOVEREIGNTY
  22. REFORMING MARKETS
  23. EPILOGUE

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