One day in late summer I was standing in a bookstore and started leafing through this one. I liked the premise so went home and ordered it. I was drawn to the idea that we need a discussion about how to build value while being intentional about the values that underpin our decisions.
To be honest it was a hard slog at times. I have taken exactly no economics courses and so there were a few places in the book where I was getting a bit lost in the economics of what Carney was saying. This was especially notable when he was discussing the lead up to the 2008 financial crisis.
After an introductory section of the book providing some historical economic background Carney uses three case studies of global events that both challenged (or are challenging/will continue to challenge) economics and our values as a culture. These were: a) the 2008 financial crash, b) the COVID-19 pandemic, and c) the climate crisis. I think he did a good job of laying out the realities and challenges of both. I also think that in the latter two his analysis does not actually reflect the culture where I live.
Overall in both his discussion of COVID and of the Climate Crisis I found Carney to be a bit overly positive. While his description of the initial response to the pandemic was accurate I think he missed the fact that the initial outpouring of community and "we are all in this together" faded well before the pandemic was over -- and that fading had a definite impact on how the pandemic played out, while also making a strong statement about societal values. In terms of the Climate Crisis I live in a province where 30 years ago the Premier insisted that reducing per-barrel CO2 emissions was enough and that Alberta would not try to reduce actual total emissions -- a logic largely followed by our current government insisting that Carbon Capture and Storage will solve everything and actually reducing use of fossil fuels is not needed.
In the end I found this to be a good book. The length of time it took me to read did make it challenging to recall exactly what had been said in earlier chapters so it is a book I wonder would have been better in hard copy so I could more easily flip back and compare. The other thing I would have found helpful was a list of acronyms. Carney is very good about spelling out an acronym the first time it is used but several hundred pages later it can be difficult to remember what those letters meant.
