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The Third Pillar - How Markets and the State Leave the Community Behind (Paperback)
Loot Price: R204
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The Third Pillar - How Markets and the State Leave the Community Behind (Paperback)
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List price R255
Loot Price R204
Discovery Miles 2 040
You Save R51 (20%)
Expected to ship within 5 - 10 working days
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SHORTLISTED FOR THE FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF
THE YEAR AWARD 2019 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 consequences of globalization and their ultimate effect on
politics and society. In The Third Pillar he offers up a
magnificent big-picture framework for understanding how three key
forces - the economy, society, and the state - interact, why things
begin to break down, and how we can find our way back to a more
secure and stable plane. The 'third pillar' of the title is
society. Economists all too often understand their field as the
relationship between the market and government, and leave social
issues for other people. That's not just myopic, Rajan argues; it's
dangerous. All economics is actually socioeconomics - all markets
are embedded in a web of human relations, values and norms. As he
shows, throughout history, technological innovations have ripped
the market out of old webs and led to violent backlashes, and to
what we now call populism. Eventually, a new equilibrium is
reached, but it can be ugly and messy, especially if done wrong.
Right now, we're doing it wrong. As markets scale up, government
scales up with it, concentrating economic and political power in
flourishing central hubs and leaving the periphery to decompose,
figuratively and even literally. Instead, Rajan offers a way to
rethink the relationship between the market and civil society and
argues for a return to strengthening and empowering local
communities as an antidote to growing despair and unrest. The Third
Pillar is a masterpiece of explication, a book that will be a
classic of its kind for its offering of a wise, authoritative and
humane explanation of the forces that have wrought such a sea
change in our lives. His ultimate argument that decision-making has
to be watered at the grass roots or our democracy will continue to
wither is sure to be both provocative and agenda-setting across the
world.
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