Value(s): An Economist’s Guide to Everything That Matters

Superb. Information-rich, stirring, educational.I've only recently understood the brilliance of Mark Carney, perhaps alerted by his dismantling of Jacob Rees-Mogg on several occasions, which of course the snarling right-wing press reported otherwise.Carney's brilliance coupled with his various vantage points from his recent posts allows the more pedestrian among us a clear insight into the world's current challenges, much of which are attributable to the ways that human being have organised themselves and the value that they seek to extract for themselves.This deserves to be read and then re-read.

Ex Governor of the Bank of England Carney provides much more than financially-led commentary in this book, and offers a unique lens into the social values that have emerged in the last 15 years alongside accelerating economic and financial uncertainty.An important read in our current times of financial, political and social turmoil, Carney's Value(s) has inspired me to delve more deeply into what should be the conjoined pillars of economic and social values. 4-stars.

In excess of 500 pages this book has some great suggestions for individuals, companies, investors and world leaders and suggestions on how we can manage, control and regulate investments in net zero portfolios. So worth definately a read !The book got me thinking e.g. Mark mentions the value of Amazon (the company) in comparison to the Amazon Region in that Amazon has a $1.5 trillion equity valuation whilst the Amazon Region does not appear on any ledger - but the costs to the climate and biodiversity of destroying the Amazon rainforest has greater value to the planet .Here are some great bits from the book, however you need to read the book for the context.1. “More equal societies are more resilient, they are more likely to invest for the many not for the few, and to have robust political institutions and consistent policies’” p1252. “We put a value on pain when, through the market, we set the price for ibuprofen and a value on pleasure when we set the price for a Pepsi” p2313. “Society’s response to Covid has revealed much about people’s relationship to the state and the values of society” p2354. “We are all in the same storm, but we are not all in the same boat” p 3875. “When a social need can be tackled with a profitable business model, the magic of capitalism is unleashed.” p453

Excellent read. Only wish he'd written this while he was still governor of the bank of England. It's all very well writing that you believe the non-fiscal value of things in our world need to be honored once you've lived the life of luxury and moved on. However, it is well thought out and I do believe genuinely meant. I hope that this is the direction of travel now.

An exceptional book, by an exceptional person. An important piece of thinking which seeks to crystallise an entire lifetime of inquiry and reflection into a single volume. A humble, well researched and highly intelligent treatise on decency, fairness, responsibility and prosperity.I wonder if perhaps it would have worked better as 3 smaller volumes, maybe not.Should be read by any ambitious person with a social conscience.Bravo and thank you Mr. Carney.

This is a review of the audio version of this book purchased on Audible. Former Governor of the Bank of England Mark Carney has written this long book (20 hours plus) in which he reflects on how market economies become market societies. Aware that markets are fundamentally a human construct he ponders whether it is possible to turn markets back into humanity the same way that grappa can be turned back into wine. He considers his time at the Bank of England (and prior role at the Bank of Canada) as fleeting visits to something that is permanent and ever lasting and ponders the fact that there have been a couple of hundred people in the role prior to his tenure, most of whom are long forgotten. Few, however, will have shepherded the Old Lady of Theadneedle Street through such challenging times.Mr Carney considers that the three largest challenges facing the financial world at the moment are Credit, COVID and Climate change. Although a force for the good he sees markets as social concepts that need social capital and is scathing of crypto currencies that lack the human element in their development. Mr Carney does not believe however that the markets can solve everything and, to him, the four scariest words in the English language are "this time it's different".There undoubtedly some fascinating and original thinking in this book and I was genuinely interested in the section on purposefully based companies being more successful, I could, however, have done with a little less on the long section on the history of banking and the chapter on corporate governance both of which were unnecessary and have been done better by others. Mark Carney will be one of the few Bank of England former governors who will be remembered. And for the right reasons.

I will update the review once I have read the book, for now, I am reviewing the physical quality of the item received. The book arrived with marks and tears on it, which was a shame. Still readable, so not all bad.

Am a fan of Mark Carney. Think of everyone in this time he talks and writes the most economic sense.

Outstanding review of macroeconomics. Insightful view of difficulties of evaluating risks such as COVID, the climate issue, and of what could be a fairer world.

This is an ambitious book, with a very broad scope. The common thread throughout is the notion that we can only harvest the unparalleled creative strength of markets when these rest upon shared social values. This has ceased to be the case, Carney says, as we became a market society where market price equates value, and everything has, or will, become a commodity. The book’s first part feels like an intro to macroeconomics, as it covers the history of value theory, through Smith, Ricardo, and Marx, to neoclassicism; of money, up to cryptocurrencies; and, of institutions from as far back as Magna Carta. The second part is devoted to the three great contemporary crises, financial, COVID, and climate, analysing them in depth and showcasing the role of value, and values, in creating and solving them. The third and final part is the more prescriptive, focusing on the transformative potential of leadership, companies, and investment, and concluding with a chapter on Canada, shaping the future of the country through the values championed in the book. The latter is what we could call the Carney liberal manifesto. Lots to think about, plentiful ideas, most of which sound well anchored and pragmatically feasible, and none to be discarded, since after all, his is as authoritative a voice as one can find.

This book is erudite in places and tedious in others. It contains excellent background history on the evolution of the concept of value in economic matters and broadens this theme, as the title indicates, to a "world view" of social matters. His material on energy and climate change are less illuminating although well intended. Throughout the book, there is much repetition of phrases and moral points, which can take on a dulling effect. There are numerous places where the text extends beyond rational argument to sanctimonious points of view, giving this otherwise excellent work a sense of a sermon to the next generation.

History of money,bank and economics! Rather a hard stuff for general reading.

This is a robust piece of kit and is easy to grip onto. It does the job very well.