The fate of a country greatly depends on its economy. And, if a country’s economy goes down, then the country goes down with it. In his book, The Third Pillar, Raghuram Rajan tries to shed light on how the 3 parameters i.e., the state, markets and our communities, interact. With the ‘third pillar’ being nothing but the community that we live in, Rajan tries to explain that all economics is actually socioeconomics.
About the Author
An Indian economist and an international academician, Raghuram Govind Rajan is the Katherine Dusak Millerdistinguished Service Professor of Finance at the University of Chicago Booth School of Business. In 2003, Rajan received the inaugural Fischer Black Prize, given by the American Finance Association to financial economists younger than 40. Those who have made the most significant contribution to the theory and practice of finance. His book, Fault Lines: How Hidden Fractures Still Threaten the World Economy, won the Financial Times/Goldman Sachs Business Book of the Year award in 2010. In 2016, he was named by Time (magazine) in its list of the '100 Most Influential People in the World’.