Former Bank of Canada governor Mark Carney to release book next spring - InfoNews

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Former Bank of Canada governor Mark Carney to release book next spring

Bank of Canada Governor Mark Carney responds to a question during a news conference Wednesday April 17, 2013 in Ottawa. Former Bank of Canada governor Mark Carney is releasing a new book laying out his vision for a more equitable post-pandemic economy. THE CANADIAN PRESS/Adrian Wyld
June 10, 2020 - 11:44 AM

Former Bank of Canada governor Mark Carney is releasing a new book laying out his vision for a more equitable post-pandemic economy.

The internationally renowned banker's debut book "Value(s): Building a Better World For All" is scheduled to hit shelves next spring.

Penguin Random House Canada's Signal imprint acquired the Canadian rights to the title, which will be simultaneously published in the U.S. and the U.K.

The Canadian publisher says the book draws from Carney's 12 years of experience as a G7 central bank governor to examine the economic upheaval of the past decade as a reflection of a "common crisis in values."

"In recent decades, many countries have been moving, subtly but relentlessly, from market economies to market societies, where the price of everything is becoming the value of everything," Carney said in a statement.

"But when pushed during the (COVID-19) crisis, we've prioritised the health of the most vulnerable and supported each other, acting as an interdependent community not as independent individuals.

"Now, we have the chance for our values to shape our possibilities, creating a dynamic economy that works for all and sustainably over time."

Carney stepped down as governor of the Bank of England this year after working to steer the British economy through the country's preparations to leave the European Union.

He took over the helm of the Bank of Canada in 2008 amid the first signs of the financial crisis. During his five-year tenure, he was widely credited with helping Canada weather the recession.

In 2011, he was also appointed to oversee global financial reforms as head of the Financial Stability Board.

After years of advocating for a greener economy, Carney was recently named the UN Special Envoy for Climate Action and Finance.

Carney, who hails from the Northwest Territories, has an undergraduate degree in economics from Harvard University and both a master's and doctorate in economics from Oxford University.

He spent more than a decade with Goldman Sachs in London, Tokyo, New York and Toronto before joining the Bank of Canada in 2003 as deputy governor.

This report by The Canadian Press was first published June 10, 2020.

News from © The Canadian Press, 2020
The Canadian Press

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