Value(s): The must-read book on how to fix our politics, economics and values

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For those readers who are economists and who are knowledgeable about the role of central banks in the global economy, this part can be skimmed. In Value(s), one of the great global thinkers of our time examines how what we value has become misaligned and how we can rethink and rebuild before it is too late. Carney’s needs and musts are about putting structure in place to analyze the effects of solutions should anyone come up with them. I don’t think that the world will meet any of the COP 26 goals, and things are going to get much worse.

In these two chapters he shows the importance of understanding how to influence and change our values to focus on stewardship over short term profit. We need to change the values that underpin our society: we need dynamism, resilience, sustainability, fairness, responsibility, solidarity and humility. The third and last section of the book was weaker than what went before, and disappointingly reads more like fleshed out notes from public speaking engagements. The economy does not comprise simple islands of profit-maximising individuals who come together temporarily through a web of contracts. To address these lies Carney describes G20 reforms that are designed to make markets safer, simpler, and fairer.And he discusses, at length, the fiscal and political struggles we will have to engage in to overcome COVID wreckage and Climate Change--not to mention assorted fiscal crises we constantly invite through poor or de- regulation and transparency.

Mainstreamers love to laugh at Marxist abstract labour but no one has ever managed to count utils, either. Mark Carney in his role as Governor of the Bank of Canada, and more recently the Bank of England, has lived and influenced our current financial system and has had a fount row seat for significant events, such as the financial crisis and Brexit. He also provides some striking analysis of the reasons both for adopting the gold standard, and why it was untenable in the long term. What Carney attempts in this book, is to provide a fact-based intellectual framework for reforming our institutions and building trust, transparency, and fairness and a hopeful, trusting society.The boy from Canada’s Northwest Territories, still slightly incredulous at his own phenomenal career given his modest beginnings, done good. A deeper sense of national values could lead to more focused, constructive international engagement. Chapters 14, 15, 16 of Part Three deal with Leadership, How Companies Create Value, and How Canada Can Build Value.

With this guiding principle Carney offers a number of resolute and implementable ideas to consider and put into practice.Fundamentally, he wants to use the financial system to help revalue investments to mitigate climate change. Compliance is a contribution to society's success, the reciprocal obligations in the social contract rather than a response to Hobbesian state coercion. First a fragmentation of the global economy where local resilience is preferred over global efficiency.

As markets best reflect our subjective preferences, there is nothing to be done except surrender to their will.I would like to believe that this is possible; but wonder about the global impact of bad faith actors and how long it will take.