Focusing on four major crises-the Global Financial Crisis, the Global Health Crisis, Climate Change and the 4th Industrial Revolution-- Carney proposes responses to each. He is optimistic about the concept and the underlying technology, but highly sceptical of the ways they have been executed so far. His seven key values are: solidarity, fairness, responsibility, resilience, sustainability, dynamism and humility – all laced with compassion. Credible policy frameworks reduce the risk that businesses form wrong expectations about future policies and continue to invest in obsolete technologies. However, evidence shows that purpose and practice can strengthen the bottom line and a dynamic purpose can strengthen innovation.

Third, experience with both the global financial crisis and the pandemic will change how companies balance risk and resilience. I felt this book did a good job canvassing defining moments of crises over the past two decades, discussing the financial crisis and pandemic as well as a look forward to the lessons this could teach us about the upcoming climate crisis. The economy does not comprise simple islands of profit-maximising individuals who come together temporarily through a web of contracts. While they will still suffer from the downsides of climate change, their efforts will position them to be leaders in the new economy for everyone else to follow.Why are the issues of value, values, metrics, truth, and institutional trust on the minds of so many academics, government leaders and citizens? Unfortunately, the book is let down by the author; it is overly long and in places very dry, it's also quite jarringly self-aggrandizing (despite preaching the importance of humility on a number of occasions). My example for this would be when the previous Ontario Liberal government implemented an apprenticeship program, many employers were reluctant to take them on as trainees and preferred to hire foreign trained employees. Mazzucato daringly suggested that, as Martin Wolf’s put it, “it is far too easy for those operating in the market economy to get rich by extracting value from those who actually create it”. Some time is spent in a discussion of a technical analysis of how we value life and a discussion of how when faced with a crisis, most governments and citizens made decisions based on core values and not financial optimization.

His solutions are tangible action plans for leaders, companies and countries to transform the value of the market back into the value of humanity.But his own wisdom seems to be limited to breaking down every topic to its smallest units, then measuring, recording and reporting them up the chain, so that they might provide value to those who might actually have a plan of action.

Carney does rely on his readers understanding a vast range of specialized finance words and acronyms that were entirely beyond me, and yes, I could have googled them, but I wouldn't have retained the information nor clearly understood how it all fit together without taking a simultaneous Econ 101 course at the very least.Carney’s needs and musts are about putting structure in place to analyze the effects of solutions should anyone come up with them. Not a bad beast, mind you, just very large and outside my normal experience and mostly to do with money, which my mind happens to skip off like butter off a hot pan. It just means banks will continue to be bailed out, currencies will continue to be manipulated, and debt will continue to rise. To address these lies Carney describes G20 reforms that are designed to make markets safer, simpler, and fairer.

He chaired the Global Economy Meeting and Economic Consultative Committee of the Bank for International Settlements (2018-2020), and was First Vice-Chair of the European Systemic Risk Board (from 2013-2020). He concludes the chapter by recognizing that the main challenge for corporations is to translate purpose into practice. The embrace of markets and their “subjective” valuations has led to a society that has been robbed of its capacity, declares Carney, to express what is important to us. Then there will be very wrenching adjustments of lifestyle and climate and economy because we have waited far too long. These sentiments are revealed in a recent article in the Atlantic by Daniel Markovits entitled ‘How College Became a Ruthless Competition Divorced From Learning’.

Increasingly, the value of an act, object, even person, is equated to its monetary value as determined by the market. Soul enriching passage at the rear detailing how one should follow one's values and sense of fun when deciding upon a career/job to be more fulfilled.