Mark Carney released a book last year that Christine Lagarde succinctly summarised as being a text that ‘asks how we can go from knowing the price of everything to understanding its true value.’ Entitled Values, An Economist's Guide to Everything That Matters, Carney explores the relationship (and tension), between market-determined value and human-led social values.
Ultimately, he suggests that if nations continue to adopt a more values-based approach towards investment and the setting of economic goals, it will be possible to build a more inclusive, resilient, and sustainable future. Whilst the markets are not everything, Carney puts forth, they certainly play a critical role in solving many of the world’s greatest challenges. And to make the markets work, Carney sees mission-oriented capitalism as playing a vital role.
This is where impact investing comes in.