The Great Degeneration: How Institutions Decay and Economies Die by Niall Ferguson

Niall

Conceptualized as part of the BBC Radio 4 Reith Lectures, “The Great Degeneration” provides a non linear perspective on the primary reasons that have led to an inexorable decline of the West. Niall Ferguson identifies four basic edifices that are indispensable for the survival and prosperity of any civilization – that are undergoing an unfortunate degeneration in the West. The four necessary foundations for political, cultural, social and economic advancement being:

Representative Government;
The Free Market;
The Rule of Law; and
Civil Society

Having identified the fundamentals, Ferguson dwells into the erosion and decay (along with the underlying causes) of the four institutions in the West that is threatening to bring economies down. The proselytizes of the West’s decline have crossed the threshold from being mere filaments and fragments of a pessimistic rambling mind to a real possibility. If the West has to prevent this catastrophe from its unfortunate logical conclusion, it has to act and the time to act is – now.

“The Great Degeneration” – An avoidable decay!

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