Even before the coronavirus pandemic, communities around the world grappled with growing inequality, automation of jobs, and dependence on global markets. While COVID-19 widened many of those gaps and continues to plague parts of the globe, Prof. Raghuram Rajan remains optimistic about one opportunity: deciding how to rebuild.
To do that, we start by empowering local communities—the same ones that stepped up during the pandemic, said Rajan, the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
Rajan shared insights from his research and his book, The Third Pillar: How Markets and the State Leave the Community Behind, during a virtual event hosted by the Hong Kong Jockey Club Programme on Social Innovation.
The event also offered local insights for strengthening communities in Hong Kong. Rajan reflected on these issues in a conversation with Leong Cheung, executive director of charities and community at the Hong Kong Jockey Club. The event was moderated by Randall S. Kroszner, the Norman R. Bobins Professor of Economics and the deputy dean for executive programs at Chicago Booth.