[Titan2]

Originally Posted by belsarius

oooo I know this one!

Carney is very much against the way society currently interacts with the market. He sees the values of the market as overriding the values of people, and how we have become too beholden to monetary prices over actual values. This to me is in direct opposition to the Neoliberal movement of the last 40 years. Many of todays problems, he sees as a result of this over acceptance and overreliance on "the market" as a solution to our woes.

He sees climate change as being the biggest threat to humanity. He feels that we are treading on dangerous ground of today's generation leaving not just the costs of debt, but the costs of our planet. Our consumption of fossil fuels have a cost higher than a carbon tax, but since we are not the ones to bear that cost (our grandchildren will), we are disincentivized to do anything about it.

To combat a threat like this, Carney sees government intervention as a necessity to the market. The government should make up the values of the people, and using those values, guide the market to do our bidding, not do the bidding of the market to increase it's value. The private market has flexibility and agility that governments do not, but they work purely for the profit and value of capital.

He is very much for the way Covid was handled. How people's values of life were tantamount to the pure mathematical reasoning that the market would have placed on it. We, in that moment, sacrificed the economic values for the moral ones to keep people safe.

Neoliberal thought basically said, we can speed up this car if we remove the brakes and the steering wheel.. and the faster the car goes the better. Without thinking of the passengers. Carney's focus is on the passengers and how can we design the car to best suit them. Driving a car is faster than walking (the free market is better than a centralized economy), but it must be tethered and designed to suit out needs.. not just strap us in for the ride.

I probably rambled too much there. But I don't think he is your standard "elitist banker", and the Libertarians on the right should be worried, because he may want to balance the (operational) budget, but he not the man to step aside and let the market reign. At least that's what I've gathered from reading his book and listening to his lectures long before he was part of the government.

Nicely summarized Mr. GPT! I kid because all the spelling errors make it obvious you wrote it. Seriously, though, well done.