After Ferguson’s prosecution and execution there isn’t really enough of Krugman left to bury. Yet in case you missed it … let us reprise, and celebrate, the event. The essence of Ferguson’s argument nicely is summed up in Part 3:
I am not an economist. I am an economic historian. The [...]
The decline of the West is something that has long been prophesied. Symptoms of decline are all around us today, it seems: slowing growth, crushing debts, aging populations, anti-social behaviour. But what exactly is amiss with Western civilization? The answer, Niall Ferguson argues, is that our institutions – the intricate frameworks within which a society [...]
The hardest question to answer, as the great tanker of history slowly turns, is whether the two dominant powers of the age, America and China, will be able to maintain what Henry Kissinger has called “co-evolution,” or whether they are doomed to re-enact the rise of the Anglo-German antagonism that culminated in world war nearly [...]
Rise of Communist China – Why the West should be Concerned “Its not fine”
Niall Ferguson – April 2, 2012
Concerning China’s rise, “that is not fine.”
“Transitions in the balance of power are seldom peaceful.”
Niall Ferguson Complexity Theory Excellent video of Niall Ferguson, Harvard University Professor. Niall Ferguson Historical Cycles of Empire Decline. Australia Lachlan Macquarie Governor New South Whales Father of the Nation of Sydney Awards
Niall Ferguson – How western countries become so succesful
It is an astonishing yet scarcely acknowledged fact that on no fewer than 14 out of 15 issues relating to property rights and governance, the United States now fares markedly worse than Hong Kong. Even mainland China does better in two areas. Indeed, the United States makes the global top 20 in only one: investor [...]
This article gives us an example of a power-law feedback loop that causes societies to crash. Positive feedback leads to more positive feedback, leading to even more positive feedback. Eventually everything just crashes.
Positive Feedback + Moral Hazard = Crash
There is dangerous positive feedback and moral hazard present in modern democracy, under which far [...]
My point is that when you look back on the history of past civilizations, a striking feature is the speed with which most of them collapsed, regardless of the cause.
The Roman Empire didn’t decline and fall sedately, as historians used to claim. It collapsed within a few decades in the early fifth century, …