Niall Ferguson Quotes

Protestantism made the West not only work, but also save and read. The Industrial Revolution was indeed a product of technological innovation and consumption. But it also required an increase in the intensity and duration of work, combined with the accumulation of capital through saving and investment. Above all, it depended on the accumulation of human capital. The literacy that Protestantism promoted was vital to all of this. On reflection, we would do better to talk about the Protestant word ethic.

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 Israeli 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.

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.

The rulers of western Africa prior to the European empires were not running some kind of scout camp. They were engaged in the slave trade. They showed zero sign of developing the country's economic resources. Did ultimately benefit from French rule? Yes, it's clear. And the counterfactual idea that somehow the indigenous rulers would have been more successful in economic development doesn't have any credibility at all.

Beginning in the late 1970s, China overcame centuries of stagnation precisely because Mao’s successors understood that they had to decentralise the People’s Republic, giving economic if not political power to the people. If western commentators are right, Xi Jinping wants to go in the opposite direction. If the Chinese are lucky, he will turn out to be an enlightened absolutist, like Singapore’s Lee Kuan Yew. If they are unlucky, he will be just another emperor who fondly dreamt of controlling a fifth of humanity.

I disbelieve in both cycles of history and ends of history. History is the interaction of many complex systems. There are certain long-run processes (notably exponential gains in productivity through the development of technology and the “suprasecular” decline of nominal and real interest rates as a result of capital accumulation) punctuated by, well, one disaster after another. These disasters are either randomly distributed or follow a power law (i.e. there are lots of little earthquakes, pandemics or wars, but a few cataclysmic ones). At unpredictable intervals, the global system is tipped into a major transition by a disturbance that can be quite small, if not quite as small as Edward Lorenz’s famous butterfly in the Amazon setting off a tornado in Texas. Russia’s war in Ukraine — destructive certainly, but still a relatively small conflict by 20th-century standards — can be enough to trigger a “conflict avalanche.”

Africa was in fact a great deal less primitive than they imagined.… However, in three respects it struck the Victorians as benighted. Unlike North Africa, the faiths of sub-Saharan Africa were not monotheistic; except for its northern and southern extremities, it was riddled with malaria, yellow fever and other diseases lethal to Europeans (and their preferred livestock); and, perhaps most importantly, slaves were its most important export – indeed, supplying slaves to European and Arab traders along the coast became the continent’s biggest source of revenue. The peculiar path of global economic development led Africans into the business of capturing and selling one another.

Economic history is not politically correct. Many on the left therefore struggle with its findings.

European centrists are deeply confused about immigration. Many, especially on the centre-left, want to have both open borders and welfare states. But the evidence suggests that it is hard to be Denmark with a multicultural society. The lack of social solidarity makes high levels of taxation and redistribution unsustainable.

To Livingstone, the search for a way to open up Africa to Christianity and civilization was made still more urgent by the discovery that slavery was still thriving. Though the slave trade in the west of the continent had supposedly been suppressed following the British abolition law, slaves continue to be exported from Central and East Africa to Arabia, Persia and India. Perhaps as many as two million Africans fell victim to this eastward traffic in the course of the nineteenth century.

‘Amazing Grace’ is the supreme hymn of Evangelical redemption….It is therefore tempting to imagine John Newton suddenly seeing the light about slavery and turning away from his wicked profession to dedicate himself to God. But the timing of Newton’s conversion is all wrong. In fact, it was after his religious awakening that Newton became the first mate and then the captain of a succession of slave ships, and only much later that he began to question the morality of buying and selling his fellow men and women.

Bush was in many ways the maestro president when it came to foreign policy. With extraordinary dexterity, he handled the , the collapse of all the communist regimes in Eastern Europe, German reunification and then the Soviet disintegration. On his watch, Nelson Mandela was set free and apartheid consigned to the history books; and Saddam Hussein’s invasion of Kuwait was reversed. And yet still the presidency was won by a scandal-prone Southern governor with the banal but brilliant slogan: "It’s the economy, stupid."

Yet imperialism did not have to pay to be popular. For many people it was sufficient that it was exciting.… As a source of entertainment – of sheer psychological gratification – the Empire’s importance can never be exaggerated.

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

In 1918 Britain had won the war on the Western Front by a huge feat of military modernization. In the 1920s nearly everything that had been learned was forgotten in the name of economy. The stark reality was that, despite the victory and the territory it had brought, the First World War had left the Empire more vulnerable than ever before. War had acted as a forcing house for a host of new military technologies – the tank, the submarine, the armed aeroplane. To secure its post-war future, the Empire needed to invest in all of these. It did nothing of the kind.