| Event Details Raghuram Rajan, the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, has an unparalleled vantage point onto the social and economic consequences of globalisation and their ultimate effect on our politics. In The Third Pillar he offers a magnificent big-picture framework for understanding how these three forces – the state, markets, and our communities – interact, when things begin to break down, and how we can find our way back to a more secure and stable plane. The "third pillar" is the community we live in. Economists all too often understand their field as the relationship between markets and the state, and they leave squishy social issues for other people. That's not just myopic, Rajan argues, it's dangerous. As he shows, throughout history technological phase shifts have ripped the market out of those 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. |