What causes rich countries to lose their way? Obvious symptoms of decline, in the West in general and America in particular, abound: slowing growth, crushing debts, increasing inequality, aging populations, antisocial behavior. A significant number of social critics will agree that these are the general symptoms of cultural shifts in the West but few will agree on what has actually gone wrong and what really caused it. The answer, says author Niall Ferguson argues in The Great Degeneration, is that our institutions—the intricate frameworks within which a society can flourish or fail—are degenerating.
The Great Degeneration is based on four lectures that Ferguson gave in 2012 and then revised and edited for this book. Niall Ferguson (b. 1964) is a professor of history at Harvard as well as a research fellow at Jesus College, University of Oxford. Ferguson is also a controversial critic who has engaged in serious research as well as partisan political action. He is known for his provocative views in both history and economics.
Ferguson argues that representative government, the free market, the rule of law,