Historian Niall Ferguson on the Challenges to America’s Global Dominance

In 'Colossus,' Niall Ferguson argues that the United States is the most powerful empire the world has ever seen, both militarily and economically. He compares the U.S. to the British Empire, noting that both aspire to globalize free markets, the rule of law, and representative government. However, Ferguson contends that Americans shy away from the long-term commitments of manpower and money necessary to effectively manage and transform rogue regimes and failed states. He describes the U.S. as an empire with an attention deficit disorder, imposing unrealistic timescales on its overseas interventions and refusing to acknowledge its global responsibilities. The book warns of the negative consequences of this chronic myopia, both domestically and internationally, and suggests that the eventual collapse of this empire may come from within due to its internal weaknesses.

In 'The Ascent of Money', Niall Ferguson explores the human story behind the evolution of finance, from the origins of money in ancient Mesopotamia to the latest financial upheavals. Ferguson argues that finance is the foundation of human progress and reveals financial history as the essential backstory behind all history. The book covers key financial institutions and concepts, such as the invention of banking, the development of bonds and stock markets, and the role of insurance and real estate. It also delves into the impact of financial systems on historical events and the recurring theme that every financial bubble eventually bursts[1][3][4].