This article was originally published before the Liberal Party announced the results of its election.anonovo-pg1

It was the summer of 2007. Deep inside Canada’s finance ministry, high-ranking officials were staring down the barrel of a global financial meltdown.

They weren’t sure exactly when, or how, the market would crash, but as Mark Carney tells it, “We knew that the thing was going to fall apart.”

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It was a turning point for Mr. Carney, then a senior public servant, and began the next chapter of his career managing economic crises as the governor of national banks in Canada and Britain.

It was also a transformative moment in Mr. Carney’s political evolution: He saw the financial crisis as the catalyst for a yearslong and steep decline in public trust of Western institutions.

“People were betrayed by the system,” Mr. Carney, 59, said at a meeting of a research group in Ottawa,66jogo the Canadian capital, in November. “How do you rebuild that trust?”

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The influx of so many people fleeing various oppressions in Latin America and West Africa, all coming in such rapid sequence, has placed enormous burdens on the system, but it has not wrecked it. From the very beginning, the crisis revealed the willingness of ordinary New Yorkers to generously extend themselves, even as the rhetoric out of City Hall, steeped in resentment and a sense of futility, hardly encouraged it.

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