Our world is afflicted by a series of simultaneous shocks: climate change, war in Europe, the end of globalization as we know it.

There’s no hiding from these profound changes for us here in Canada. 1/5 Canadians are already feeling them everywhere from our grocery bills to the deep sense of anxiety our kids feel about their future. 2/5

Here are 5 lessons in crisis mgmt from my last few jobs. First, the mrkt can be wrong longer than you can stay solvent. Appeals to fundamental values in a panic fall on deaf ears. Not least because people find it tough to hear when they’re screaming. #values 1/5 Second, hope is not a strategy. Following the PM’s resignation the morning after the #Brexit vote, with the £ in free fall & mrkts under pressure, I was able to state simply, ‘We are well prepared for this.’ Once we backed that up with £250 bn, the mrkt stabilized. #values 2/5

Adam Smith published 2 magisterial works, The Theory of Moral Sentiments (1759) & An Inquiry into the Wealth of Nations (1776). The latter is better known, yet to understand the totality of Smith’s thinking, it should not be considered in isolation from its predecessor. 1/6 Smith’s goal in writing The Theory of Moral Sentiments was to explain the source of humankind’s ability to form moral judgements. He believed we form our norms (#values) as a matter of social psychology by wishing ‘to love and to be lovely’. 2/6

For over 12 years, I had the privilege & challenge of being a G7 central bank governor, first in 🇨🇦 and then in the 🇬🇧. During this time, I led global reforms to fix the fault lines that caused the financial crisis... #values 1/4 ...worked to heal the malignant culture at the heart of financial capitalism and began to address both the fundamental challenges of the 4th Industrial Revolution & the existential risks from climate change. #values 2/4