Niall Ferguson Quotes

21 Sourced Quotes

The West may collapse very suddenly. Complex civilizations do that, because they operate, most of the time, on the edge of chaos.

Niall Ferguson
.. the nineteenth-century Empire undeniably pioneered free trade, free capital movements and, with the abolition of slavery, free labour. It invested immense sums in developing a global network of modern communications. It spread and enforced the rule of law over vast areas. Though it fought many small wars, the Empire maintained a global peace unmatched before or since. In the twentieth century too it more than justified its own existence, for the alternatives to British rule represented by the German and Japanese empires were clearly far worse. And without its Empire, it is inconceivable that Britain could have withstood them.

Niall Ferguson
Without the spread of British rule around the world, it is hard to believe that the structures of liberal capitalism would have been so successfully established in so many different economies around the world.

Niall Ferguson
When bond prices fall, interest rates soar, with painful consequences for all borrowers.

Niall Ferguson
Between 1980 and 2000 the number of patents registered in Israel was 7652 compared with 367 for all the Arab countries combined. In 2008 alone is really inventors applied to register 9591 new patents. The equivalent figure for Iran was 50 and for all majority Muslim countries in the world with 5657.

Niall Ferguson
No civilization, no matter how mighty it may appear to itself, is indestructible.

Niall Ferguson
The financial crisis is really a relatively small historic phenomenon, which has accelerated this huge shift, which ends half a millennium of Western ascendancy.

Niall Ferguson
With its weird red earth and its alien flora and fauna - the eucalyptus trees and kangaroos - Australia was the eighteenth-century equivalent of Mars. This helps explain why the first official response to the discovery of New South Wales by Captain Cook in 1770 was to identify it as the ideal dumping ground for criminals.

Niall Ferguson
The consumer society is so all-pervasive today that it is easy to assume it has always existed. Yet in reality it is one of the more recent innovations that propelled the West ahead of the Rest. Its most striking characteristic is its seemingly irresistible appeal... The result is one of the greatest paradoxes of modern history: that an economic system designed to offer infinite choice to the individual has ended up homogenizing humanity.

Niall Ferguson
History is not politically correct. Many on the left therefore struggle with its findings.

Niall Ferguson
The rise of the West is, quite simply, the pre-eminent historical phenomenon of the second half of the second millennium after Christ.

Niall Ferguson
In leaving Britain, the early emigrants risked not merely their life savings but their very lives. Their voyages were never without hazard; their destinations were often unhealthy and inhospitable. To us, their decision to gamble everything on a one-way ticket seems baffling. Yet without millions of such tickets - some purchased voluntarily, some not - there could have been no British Empire. For the indispensible foundation of the Empire was mass migration: the biggest in human history. This Britannic exodus changed the world. It turned whole continents white.

Niall Ferguson
Between the early 1600s and the 1950s, more than 20 million people left the British Isles to begin new lives across the seas. Only a minority ever returned. No other country in the world came close to exporting so many of its inhabitants.

Niall Ferguson
In 1615 the British Isles had been an economically unremarkable, politically fractious and strategically second-class entity. Two hundred years later Great Britain had acquired the largest empire the world had ever seen, encompassing forty-three colonies in five continents.

Niall Ferguson
Like the Roman Empire in the early fifth century, Europe has allowed its defenses to crumble. As its wealth has grown, so its military prowess has shrunk, along with its self-belief. It has grown decadent in its shopping malls and sports stadiums. At the same time, it has opened its gates to outsiders who have coveted its wealth without renouncing their ancestral faith.

Niall Ferguson
It has sometimes been argued that in gaining Canada in the Seven Years War, Britain had undermined her position in America. Without the French threat, why should the thirteen colonies stay loyal? Yet the loss of America had the unforeseen effect of securing Canada for the Empire, thanks to the flood of English-speaking Loyalists who, together with new British settlers, would eventually reduce the French Quebecois to a beleaguered minority. The amazing thing is that so many people should have voted with their feet against American independence, choosing loyalty to King and Empire over 'life, liberty and the pursuit of happiness'.

Niall Ferguson
[The United States] is an empire... that dare not speak its name. It is an empire in denial.

Niall Ferguson
Was there something distinctive about American civil society that gave democracy a better chance than in France, as Tocqueville argued? Was the already centralized French state more likely to produce a Napoleon than the decentralized United States? We cannot be sure. But it is not unreasonable to ask how long the US constitution would have lasted if the United States had suffered the same military and economic strains that swept away the French constitution of 1791.

Niall Ferguson
The great paradox of Australian history is that what started out as a colony populated by people whom Britain had thrown out proved to be so loyal to the British Empire for so long. America had begun as a combination of tobacco plantation and Puritan utopia, a creation of economic and religious liberty, and ended up as a rebel republic. Australia started out as a jail, the very negation of liberty. Yet the more reliable colonists turned out to be not the Pilgrims but the prisoners.

Niall Ferguson
It was an idea that made the crucial difference between British and Iberian America – an idea about the way people should govern themselves. Some people make the mistake of calling that idea 'democracy' and imagining that any country can adopt it merely by holding elections. In reality, democracy was the capstone of an edifice that had as its foundation the rule of law – to be precise, the sanctity of individual freedom and the security of private property rights, ensured by representative, constitutional government.

Niall Ferguson
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 Ferguson