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. Carney’s needs and musts are about putting structure in place to analyze the effects of solutions should anyone come up with them.

There are two chapters on COVID19 as well the financial crisis, and two on climate change as well as the gold standard. Unlike Mariana Mazzucato who first managed to float “value” into the mainstream conversation, Carney does not focus on the “unearned” earnings and extractions of financialised rentier capitalism. To achieve ‘dynamism’ in the economy, Carney makes six recommendations which include using policy to unlock digital competition, having a solid intellectual property framework and a tax system that rewards or as least does not dissuade wealth creation, among others. Consequently, we need to plan for all foreseeable outcomes and recognize that we never have complete control of events. This book asks why it is that the things we value most - from the environment to frontline workers to keeping children well fed and educated - are so often neglected by the market.He knows you need an active state as well – but his recommendations on that score are less than full-blooded. When discussing the three topics in tandem, it is undoubtedly at its most compelling for the casual reader.

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. We need a new form of international integration, one that is focused on outcomes, that maintains values and preserves sovereignty in its truest sense. This allowed for fun tendrils throughout linking the the different sections through unexpected and insightful connections.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.