Mark Carney is the new Prime Minister of Canada.

Dr. Alaa Al-Tamimi

03/21/2025

On Sunday, March 9, 2025, the Liberal Party elected Mark Carney as party leader. Following his election, Canadian Prime Minister Justin Trudeau resigned, and Mark Carney was sworn in as the 24th Prime Minister of Canada.

Mark Carney is a prominent Canadian economist who has held several important leadership positions in the financial and political sectors.

His most notable positions include Governor of the Bank of Canada (2008–2013) and Governor of the Bank of England (2013–2020), the first non-British person to hold this position. He played a key role in managing UK monetary policy during the Brexit process. He also focused on promoting financial stability and combating climate change in the financial sector, serving as the UN Special Envoy for Climate Action and Finance (2020–2023).

Mr. Markey is not a member of Parliament, but he was chosen because Canada needs someone with an economic mindset, especially after US President Trump's call for Canada to join the United States.

To understand Mark Carney's ideas, I wanted to review the most important points he mentioned in his book.

Published in 2021 under the title

Value(s): Building a better world for all

It can be translated into Arabic as follows:

Value(s): Building a better world for all

The word “value” reflects the language play the author wants to play between “economic value” and “moral values.”

With a different vision that calls for restoring balance between economic values and human values.

Carney believes that financial values alone are not sufficient to build a just and sustainable society, and that free markets require controls that ensure the public interest rather than focusing solely on maximizing profits.

The author argues that in recent decades, markets have come to determine the value of everything, from healthcare to education to the environment, based on purely financial criteria. This situation has exacerbated social inequality, neglected environmental sustainability, and undermined trust in economic and political institutions. He points out that the 2008 global financial crisis and the COVID-19 pandemic served as stark warnings that leaving markets unregulated leads to catastrophic crises.

Carney calls for redefining economic success to include equality, sustainability, and social responsibility. He offers several solutions:

1. Promote responsibility in markets where companies must adopt long-term strategies that take into account their impact on society and the environment.

2. Reforming the role of governments by establishing fair policies to regulate markets and ensure the equitable distribution of wealth.

3. Shift to a green economy and invest in renewable energy and environmental sustainability instead of focusing on fossil fuels and quick gains.

Carney believes that economics is not just about numbers, but rather a tool for serving people and society. If we can integrate human values into economic decisions, we can build a more just and sustainable world where responsibility, cooperation, and justice are at the heart of the financial system, not just profit.