The Third Pillar: Are Communities Being Left Behind?
Raghuram Rajan, former Governor, Bank of India, examined whether a shift to strengthening and empowering local communities could be the answer to growing economic disparity and political unrest.
About This Event
We're doing it wrong. As government and the market economy, two highly debated and complex pillars of our society, become more sophisticated and powerful, the core of society, the community, the third pillar, is being lost. When the gap between communities and the political and economic elite grows too wide, it has manifested itself in violence and populism. With communities left out of the equation, Raghuram Rajan suggests that we are "doing it wrong." In an era of globalization and digital connectivity, what does a healthy third pillar look like? Will a shift to strengthening and empowering local communities be the answer to growing economic disparity and political unrest?
About the Speakers
Professor of Finance, University of Chicago Booth School of Business
Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He served as the 23rd Governor of the Reserve Bank of India from September 2013 to September 2016 and was the Chief Economist and Director of Research at the International Monetary Fund from 2003 to 2006.