If 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 FergusonThe West may collapse very suddenly. Complex civilizations do that, because they operate, most of the time, on the edge of chaos.
Niall FergusonAs a teacher, my strategy is to encourage questioning. I'm the least authoritarian professor you'll ever meet.
Niall FergusonCollaboration is risky. If it fails, if the occupation is wound up prematurely and the bad guys come back to power, you might find yourself in some serious trouble.
Niall Ferguson