Common Values and Beliefs that underpin a successful economy

The experience of the three crises ( Credit, Covid and Climate) of the 21st century, suggests that the common values and beliefs that underpin a successful economy are:

dynamism to help create solutions and channel human creativity;

resilience to make it easier to bounce back from shocks while protecting the most vulnerable in society;

sustainability with long-term perspectives that align incentives across generations; – fairness, particularly in markets to sustain their legitimacy;

responsibility so that individuals feel accountable for their actions;

solidarity whereby citizens recognise their obligations to each other and share a sense of community and society;

and

humility to recognise the limits of our knowledge, understanding and power so that we act as custodians seeking to improve the common good.


Value(s): Building a Better World for All by Mark Carney

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