I am a big fan of Niall Ferguson.
I so respect and appreciate the way this history professor at Harvard thinks and writes. More often that not after reading his work I find myself thinking, “he’s right.” I find his work to be fully consistent with the thoughts and opinions I try to promote here at Sense on Cents.
To that end, I will soon be picking up a copy of Ferguson’s soon to be released book, The Great Degeneration: How Institutions Decay and Economies Die. As one reviewer wrote,
Professor Ferguson maintains that key maladies with western institutions encompass meager regulatory enforcement in the financial sector, rotten rule of law, government encroachment in the civil society, and breakdown of social contract between the generations (Edmund Burke’s concept of contract in which the current fiscal policies cannot inexorably create huge debts at the expense of the young and the unborn). Professor Ferguson disagrees with Keynesian economists who are advocates of low interest rate and issuance of public debt to stimulate economic growth.
The Wall Street Journal addresses Ferguson’s work in what I think is a great weekend read, How America Lost Its Way.
Enjoy the weekend.
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I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.