Empires, essentially, create order. In their absence, you don't end up with lots of happy, little nation-states full of people sitting around campfires singing John Lennon's "Imagine." What you end up with is civil war, anarchy.
Niall FergusonToday, the average Korean works a thousand hours more a year than the average German. A thousand. ... That is the end of the Great Divergence.
Niall FergusonI think the condition of imperial denial is a handicap because if you do not recognize that you are essentially performing the functions of an empire, you are incapable of learning from the mistakes of past empires.
Niall FergusonBetween 1980 and 2000 the number of patents registered in Israel was 7652 compared with 367 for all the Arab countries combined.
Niall FergusonIf the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.
Niall Ferguson