Value(s): The must-read book on how to fix our politics, economics and values

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Fifth, the tendency to move from a market economy to a market society is likely to change as social values will be given precedence to value. Embedding the values of sustainability, solidarity and responsibility into all decision-making is integral to his argument for how we can channel the dynamism of the market to turn intractable problems into enormous opportunities. For this reason, he predicts that whatever the technological innovations, central banks will need to continue to fulfil their core function of providing public backstops to ensure that public trust in money is maintained: "For money to be sound it must be trusted.

Part One of the book makes the case for the erosion of societal values and their replacement with market values. All network externalities in new forms of money should accrue to the benefit of the public…New payment systems must be scalable. He should “Focus on What Matters,” develop a more focused thesis, argue it closely, and jettison about 1/3 to ½ of this book.

the history of money shows that sound money is a social convention that endures because of the backing of public institutions that act consistently with society's values. However, Carney does more than Polonius as there is an overarching point to the unimaginative and relentless soliloquizing: monetary and ethical values are misaligned, leading to issues such as global warming, which do not carry an immediate economic imperative, being sidelined. They have a deep interest in and share responsibility for the economic, social and environmental systems in which they operate.

On the downside the 4IR can cause mass inequality, depressed labor markets, education that can’t keep pace with changes, and an escalation in inequality due to greater global interconnectedness. Just as any revolution eats its children, unchecked market fundamentalism devours the social capital essential for the long-term dynamism of capitalism itself. In ‘The Metric Society”, (Goeth Institute, UK, 2019), Steffen Mau examines the societal distortions that occur when we rely too much on purely statistical indicators. And the same process is being extended deep into our social marrow – even to health and the value placed on lives.However, after reading numerous lists of actions for governments, society and corporations, I was left a bit cold.

From there, he moves on to consider a high-profile modern disruptor in the financial space: crypto currencies. Mainstreamers love to laugh at Marxist abstract labour but no one has ever managed to count utils, either.

This book was a thorough and thought provoking exploration of some of the most pressing issues of our time coupled with a number of creative and compelling potential solutions. As former Governor for the Bank of England Mark Carney said to the BBC: ‘The message from the financial markets is there’s a limit to unfunded spending and unfunded tax cuts in this environment. We can continue to let financial valuation narrow our values or we can create an ecosystem in which society's values broaden the market's conceptions of value. 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.

Mark was previously Governor of the Bank of England (2013 to 2020), and Governor of the Bank of Canada (2008 to 2013). All companies should disclose their plans to get to carbon zero, and the financial sector must take this into account when giving loans and valuing companies. Let Mark Carney, the former Governor of both the Banks of England and Canada and the current UN Special Envoy for Climate Action and Finance, tell you what the global good want to do.According to the sources Carney quotes, overall 10-50% of all employment could be affected by the 4IR while the expectation is that in advanced economies 10-15% of jobs will be at risk. Carney begins a discussion of the Financial Crisis with a short history of the role of Central banks in the global banking system and the rapid expansion of ‘pseudo’ banks.