Conversations with Tyler Raghuram Rajan on Understanding Community
Mar 13, 2019
Raghuram Rajan, an esteemed academic and policymaker, shares insights from his book on the vital interaction between the state, markets, and communities. He discusses the pressing issue of empowering local communities while navigating global challenges. Rajan critiques the U.S. financial system's recovery, compares community dynamics between India and the U.S., and navigates India's unique food system. He emphasizes the importance of grassroots engagement in evolving capitalism and ponders the future of democracy and economic equality.
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Episode notes
Community and Building Restrictions
- Strong local communities might lead to tighter building restrictions.
- Balancing community empowerment with state and market influences is crucial.
China's Growth Model
- China's economic growth is partly due to empowered local officials selectively breaking business regulations.
- This approach, while effective, isn't recommended for others.
Indian Villages: A Case Study
- Indian villages demonstrate successful self-governance.
- Providing them with central funding for local projects enhances their effectiveness.
