‘We are seeing a crisis in values’ – an exclusive extract from Mark Carney’s book | Mark Carney | The Guardian

In my experience, the upheaval the world has been experiencing demonstrates that it is vital to rebalance the essential dynamism of capitalism with our broader social goals. This is not an abstract issue or a naive aspiration.For over 12 years, I had the privilege and challenge of being a G7 governor, first in Canada and latterly in the UK. During this time I saw kingdoms of gold rise and fall. I led global reforms to fix the faultlines that caused the financial crisis, worked to heal the malignant culture at the heart of financial capitalism and began to address both the fundamental challenges of the fourth industrial revolution and the existential risks from climate change. I felt the collapse in public trust in elites, globalisation and technology. And I became convinced that these challenges reflect a common crisis in values and that radical changes are required to build an economy that works for all.Whenever I could step back from what felt like daily crisis management, the same deeper issues loomed. Can the very act of valuation shape our values and constrain our choices? How do the valuations of markets affect the values of our society?

Source: ‘We are seeing a crisis in values’ – an exclusive extract from Mark Carney’s book | Mark Carney | The Guardian