Ex-RBI Governor Rajan Sees Community as Base for Capitalism

The video discusses a book by a former Reserve Bank of India governor, focusing on the challenges of capitalism and the importance of the third pillar, community, in democratic capitalism. It highlights the role of populist movements in questioning market and government failures, emphasizing the need for education and safety nets. The potential of populism to either foster competition or lead to crony capitalism is explored, stressing the importance of community in enabling market participation.

What is described as the 'third pillar' essential for democratic capitalism?

• Government

• Markets

• Community

• Globalization

What is one of the main reasons for the rise of populist movements according to the book?

• Increased globalization

• Failure of markets and governments

• Technological advancements

• Cultural shifts

What does the book suggest is necessary for people to effectively participate in markets?

• Increased taxation

• Education and safety nets

• Closing down markets

• More government control

How can populist movements positively impact society?

• By creating more competition

• By promoting crony capitalism

• By electing strong leaders

• By curtailing markets

What is a potential negative outcome of populist movements?

• Increased transparency

• Enhanced democracy

• Crony capitalism

• Economic growth