Book Details
- Genre: Non-Fiction / Economics / Social Commentary
- Themes:
- Moral Capitalism
- Value vs. Market Price
- Climate Change & ESG
- Financial Ethics
- Public Good & Private Interest
One-Sentence Summary
Mark Carney draws from his experience at the highest levels of finance to explore how we can recalibrate capitalism by aligning market values with moral values to build a more equitable and sustainable world.
Main Takeaways & Insights
- Value vs. Values: Modern economies often conflate market price with true value, resulting in systemic imbalances that neglect social welfare, environmental sustainability, and long-term prosperity.
- Three Crises—Same Root: Carney frames the 2008 financial crash, COVID-19 pandemic, and climate crisis as failures in valuation—where short-term profits trumped long-term values.
- Stakeholder Capitalism: A shift is needed from shareholder primacy to stakeholder inclusion—businesses should serve workers, communities, and the planet, not just investors.
- Purpose-Driven Leadership: Leaders must combine purpose and pragmatism, balancing financial expertise with moral courage to drive systemic change.
- Climate Risk = Financial Risk: Carney strongly advocates for climate-conscious investing and carbon pricing, positioning sustainability as essential to global economic stability.
- Redesigning Financial Institutions: He proposes structural reforms to central banking, financial markets, and corporate governance to realign incentives and priorities with collective well-being.
Key Quotes
“Markets are ultimately human creations, not natural forces.”
“Value must be judged not just by what people will pay, but by how something contributes to the common good.”
“We can choose to shift our system from one based on market economies to one that truly embodies market societies.”
Personal Reflection
Values is a deeply intellectual and timely call to rethink the foundations of capitalism. Mark Carney brings rare insight from both global finance and public policy, urging us to bridge the widening gap between market value and human values. The book is not just theory—it’s a blueprint for a more inclusive and sustainable economy. It challenges technocrats and citizens alike to redefine success in ways that are moral, measurable, and future-focused. A powerful read for anyone invested in the ethical evolution of finance and society.
