The great degeneration: how institutions decay and economies die

Abstract

The decline of the West is something that has long been prophesied. Symptoms of decline are all around us today: slowing growth, crushing debts, ageing populations. But what exactly is amiss with Western civilization? The answer, Ferguson argues, is that the institutions that were once the four pillars of Western society - representative government, the free market, the rule of law and civil society - are degenerating. The Great Degeneration is a powerful indictment of an era of negligence and complacency. To stop us frittering away the institutional inheritance of centuries, Ferguson warns, will take heroic leadership and radical reform. A refreshing perspective on the economic decline of advanced countries and the origins of the crisis. (Samuel Brittan, Financial Times). He writes with splendid panache and a seemingly effortless, debonair wit. (The Times). One of the most incisive writers of history, politics and economics today. (Sunday Telegraph). Niall Ferguson has transformed the intellectual landscape. (Economist).