Monday, November 27, 2023

Values by Mark Carney

This book’s full title is Value(s): Building a Better World for All. I have always found Mark Carney interesting. He was the Governor of the Bank of Canada and then of the Bank of England. I found the book interesting. After I read a book, I like to look at book reviews and listen to videos with the author as a speaker or to videos with interviews of the author.

I believe in capitalism. I found interesting his views on capitalism in our current societies. He says that the world is moving to two capitalism types of Political, Authoritarian capitalism and Liberal, Meritocratic capitalism.

He defines Political or Authoritarian capitalism system with 3 characteristics of Efficient technocratic or merit-based bureaucracy; absence of the rule of law; and ultimate autonomy of the state. He defines liberal or meritocratic capitalism which means meritocratic in that there are no legal constraints on people earning an income or having a position in society. It is liberal through attempts to correct for initial differences in endowments through widespread education and income cases inheritance taxes. (This is page 132 in my book.)

Will Hutton reviews this book for the Guardian. There is a great review by Philip Cross in the National Review. Philip Cross is quite critical of the book. The review by Max Fawcett at Open Canada is very different. He liked the book.

Mark Carney is interviewed by Amanda Lang at the Rotman School in Toronto. This is a short around 5 minutes interview. Mark Carney is interviewed by Anna Gainey of Canada 2020. Michael Massoud interviews Mark Carney for CPA Canada. CPA Canada is Chartered Professional Accountants of Canada.

An index of the books I have reviewed are on my website at Books. I have three blogs. The first talks only about specific stocks and is called Investment Talk . The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter.

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