The Third Pillar

Shortlisted for the Financial Times/McKinsey Business Book of the Year Award From one of the most important economic thinkers of our time, a brilliant and far-seeing analysis of the current populist backlash against globalization. Raghuram Rajan, distinguished University of Chicago professor, former IMF chief economist, head of India's central bank, and 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 our politics. In The Third Pillar he offers up a magnificent big-picture framework for understanding how these three forces--the state, markets, and our communities--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 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. All economics is actually socioeconomics - all markets are embedded in a web of human relations, values and norms. 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. Right now, we're doing it wrong. As markets scale up, the state 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. Rajan is not a doctrinaire conservative, so his ultimate argument that decision-making has to be devolved to the grass roots or our democracy will continue to wither, is sure to be provocative. But even setting aside its solutions, 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.

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.

As the RtoP moves from norm to operationalization, greater analysis of action to halt crimes against humanity, war crimes, genocide and ethnic cleansing is needed. This uncovers opportunities and challenges associated with third pillar interventions by looking at legal, economic, political, military and alternative interventions in third-countries.

What fuels radicalization? Is deradicalization a possibility? The Three Pillars of Radicalization: Needs, Narratives, and Networks addresses these crucial questions by identifying the three major determinants of radicalization that progresses into violent extremism. The first determinant is the need: individuals' universal desire for personal significance. The second determinant is narrative, which guides members in their "quest for significance." The third determinant is the network, or membership in one's group that validates the collective narrative and dispenses rewards like respect and veneration to members who implement it. In this book, Arie W. Kruglanski, Jocelyn J. Bélanger, and Rohan Gunaratna present a new model of radicalization that takes into account factors that activate the individual's quest for significance. Synthesizing varied empirical evidence, this volume reinterprets prior theories of radicalization and examines major issues in deradicalization and recidivism, which will only become more relevant as communities continue to negotiate the threat of extremism.

NEW YORK TIMES BESTSELLER • A roadmap to what lies ahead and the decisions we must make now to stave off the next global economic and financial crisis, from one of the world’s most influential economic thinkers and the author of When Markets Collide • Updated, with a new chapter and author’s note “The one economic book you must read now . . . If you want to understand [our] bifurcated world and where it’s headed, there is no better interpreter than Mohamed El-Erian.”—Time Our current economic path is coming to an end. The signposts are all around us: sluggish growth, rising inequality, stubbornly high pockets of unemployment, and jittery financial markets, to name a few. Soon we will reach a fork in the road: One path leads to renewed growth, prosperity, and financial stability, the other to recession and market disorder. In The Only Game in Town, El-Erian casts his gaze toward the future of the global economy and markets, outlining the choices we face both individually and collectively in an era of economic uncertainty and financial insecurity. Beginning with their response to the 2008 global crisis, El-Erian explains how and why our central banks became the critical policy actors—and, most important, why they cannot continue is this role alone. They saved the financial system from collapse in 2008 and a multiyear economic depression, but lack the tools to enable a return to high inclusive growth and durable financial stability. The time has come for a policy handoff, from a prolonged period of monetary policy experimentation to a strategy that better targets what ails economies and distorts the financial sector—before we stumble into another crisis. The future, critically, is not predestined. It is up to us to decide where we will go from here as households, investors, companies, and governments. Using a mix of insights from economics, finance, and behavioral science, this book gives us the tools we need to properly understand this turning point, prepare for it, and come out of it stronger. A comprehensive, controversial look at the realities of our global economy and markets, The Only Game in Town is required reading for investors, policymakers, and anyone interested in the future.

This book will show you how to use an expanded version of the decision-making model taught in the leadership course for Harvard MBA students. Based on a Strategy Pillar, a Law Pillar, and an Ethics Pillar—the three key pillars of decision making in business and in life—the model enables you to achieve the twin goals that lead to business success: managing risk and creating value.

#1 New York Times Bestseller Oprah's Book Club Selection The “extraordinary . . . monumental masterpiece” (Booklist) that changed the course of Ken Follett’s already phenomenal career—and begins where its prequel, The Evening and the Morning, ended. “Follett risks all and comes out a clear winner,” extolled Publishers Weekly on the release of The Pillars of the Earth. A departure for the bestselling thriller writer, the historical epic stunned readers and critics alike with its ambitious scope and gripping humanity. Today, it stands as a testament to Follett’s unassailable command of the written word and to his universal appeal. The Pillars of the Earth tells the story of Philip, prior of Kingsbridge, a devout and resourceful monk driven to build the greatest Gothic cathedral the world has known . . . of Tom, the mason who becomes his architect—a man divided in his soul . . . of the beautiful, elusive Lady Aliena, haunted by a secret shame . . . and of a struggle between good and evil that will turn church against state and brother against brother. A spellbinding epic tale of ambition, anarchy, and absolute power set against the sprawling medieval canvas of twelfth-century England, this is Ken Follett’s historical masterpiece.