This weighty assault on the modern free market by the former governor of the Bank of England is a landmark achievement. If 25 years ago anyone had suggested that one of the world’s most prominent ex-central bankers would launch an intellectual broadside at free market fundamentalism for shredding the values on which good societies and functioning markets are based, I would have been amazed. If, in addition, it was suggested he would go on to argue that stakeholder capitalism, socially motivated investing and business putting purpose before profit were the best ways to put matters right, I would have considered it a fairy story. Although writing in this vein in the mid-1990s made my book The State We’re In one of the past century’s political bestsellers, the newly elected Labour government was terrified of going near most of it for fear of being cast as anti-business and interventionist. Now Mark Carney, governor of the Bank of England until this time last year, has turned his hand to driving ideas once considered eccentric into the mainstream.