The New York Times

Small Is Beautiful

AN ECONOMIST’S ARGUMENT FOR THE NEED TO PRESERVE COMMUNITY.

“The Third Pillar: How Markets and the State Leave the Community Behind”

By Raghuram Rajan

434 pages. Penguin Press. $30.

comes both to praise community and to bury it. This University of Chicago professor and former chief economist for the International Monetary Fund wants his new book to “reintroduce into the debate” the titular and neglected “third

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