But Carney is not deterred. In his love of lists and process, he says: “There are a variety of ways to calculate the warming impact across equities, corporate bonds and sovereign bonds and then to combine them into a single ‘portfolio’ score. They have three steps in common: The organization of this book was also effective. The three sections, which easily could have each comprised their own book, woven together through the central theme of value. This provided the scope to discuss the history of money and couch the discussion without the broader social and philosophical context of how our society thinks about value before delving in the to the heart of the subject matter. Finally, leading into a more robust discussion on the vision Carney has for how to ameliorate these existing problems within this broader social context. This allowed for fun tendrils throughout linking the the different sections through unexpected and insightful connections. He keeps to that theme pretty much throughout, but it becomes endlessly repetitive once you understand how he thinks. He thinks like a bureaucrat.

Mark Carney is a man with a plan, a bureaucratic consensus on how to use the financial system to help stop climate change. He is a very liberal man and so am I. I think that his goals are admirable and his suggestions are laudable, but I don’t know how all this is going to happen. He represents a global elite of power, and it is an iron law that power begets opposition to that power. There will be losers from any new system and those who know they will lose will fight tooth and nail to keep what they have. A stimulating read ... offering hope that we can build a post-pandemic economy based on solid values' - TheDaily Mail Overall, the book has a lot to say on the three Cs: Climate Change, Credit and COVID-19. When discussing the three topics in tandem, it is undoubtedly at its most compelling for the casual reader. How remarkable it is that that Carney’s signature can be on the banknotes of two separate countries. Quite a mark of achievement! Thought-provoking and readable... As societies struggle to rebuild solidarity in the post-Covid world, it will be an essential guide' -Raghu RajanDespite knowing and working with the who’s who of finance, Carney is not about to criticize anyone else. Even for Alan Greenspan, whose hands-off administration led The Great Moderation of supposedly endless stability to the great financial crisis of 2008 (which for some has still not ended), Carney has no critique. The farthest he goes is to quote Greenspan himself at a congressional hearing where he admitted to being “partially wrong” after seeing the incredible greed of Wall Street in action. Otherwise, everything’s good. Once they are brought into the regulatory net – as all forms of money eventually are – their attractiveness to many of their core users will cease.“ Our world is full of fault lines - growing inequality in income and opportunity; systemic racism; health and economic crises from a global pandemic; mistrust of experts; the existential threat of climate change; deep threats to employment in a digital economy with robotics on the rise. Our world is full of fault lines--growing inequality in income and opportunity; systemic racism; health and economic crises from a global pandemic; mistrust of experts; the existential threat of climate change; deep threats to employment in a digital economy with robotics on the rise. These fundamental problems and others like them, argues Mark Carney, stem from a common crisis in values. Drawing on the turmoil of the past decade, Mark Carney shows how "market economies" have evolved into "market societies" where price determines the value of everything.

This is the kind of insight I wanted to read more of, but what I have referenced here is pretty much all there is in the book.A fantastic read for anyone interested in the most pressing issues facing us. The need for a world of profit with better purpose is explained in such a clear and persuasive style. I hope it gets read by many people ' -Jim O'NeillI The first spring when I was governor of the Bank of Canada, I began to hear a tour bus every 45 minutes outside my window. The guide would say ‘ that's the Bank of Canada - they have the world’s second biggest gold reserves in there.’ And I would think ‘no we don't, we sold out gold in the 1990s.’” I love this story for its humour and truthfulness. Along the same lines: “We have learned that talking about ‘prices and jobs’ is far more effective than the economic jargon of inflation and employment.” Central bankers recognize their audience. It just means banks will continue to be bailed out, currencies will continue to be manipulated, and debt will continue to rise. Because that’s how they build confidence in money. Next, he considers the implications of the move from a market economy to a market society, and whether the "expansion of the market is changing the underlying social contract on which it has been based...are we consuming the social capital necessary to create economic and human capital? The risks to the market functioning should not be underestimated. We simply cannot take the market system, which produces such plenty and so many solutions, for granted." Carney seems to understand the universal attributes of leadership: purpose, perspective, clarity, competence, and humility. It’s certainly refreshing to review what makes a leader and perhaps we should ask this of our own heads of government in whichever country we live. He sees crisis occurring throughout history as an opportunity to question how and what we value, and that should change strategies that dictate how we deal with the future.

Central banker Mark Carney has diagnosed a crisis in value(s). He doesn’t just mean prices being misaligned with values as in frothy asset overvaluations. That’s just a symptom of a deeper malaise. The central idea of his book, says the Toronto Star’s Heather Scoffield, is that “… the world has devolved into a harsh, crisis-prone place by putting a monetary value or price on pretty much everything, and that erodes the societal values that hold the world together.” Economists have struggled with this question (of value) for several centuries and have largely given up – most modern economists tacitly assert that price and value are the same thing, except for possible “externalities” that prevent the market system from functioning correctly.”

The book seems to be built on three verbs: need, should, and must. Carney is all about bankers and governments needing to do this and that. But the verbs are not followed by solutions. Carney’s needs and musts are about putting structure in place to analyze the effects of solutions should anyone come up with them. He himself has none. Here’s an example of what readers will encounter again and again, which they eventually realize are not so much profound as meaningless: These fundamental problems and others like them, argues Mark Carney, stem from a common crisis in values.