A Hereditary Meritocracy

The video features a discussion with Dr. Raghu Rajan about his book 'The Third Pillar', exploring the interplay between state, markets, and communities. It highlights the challenges capitalism faces in providing equal opportunities and the importance of balancing democracy and free markets. The conversation delves into the role of community in societal success, the impact of technological change, and strategies for reviving declining areas. The Scandinavian model is discussed as an example of effective adaptation, emphasizing the need for resources and education. The video concludes with reflections on wealth distribution and societal responsibilities.

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