#239 – Niall Ferguson: History of Money, Power, War, and Truth

91 snips

Nov 8, 2021

Niall Ferguson, a historian at the Hoover Institution and author of 16 books, dives into fascinating discussions on the evolution of money and the transformative potential of cryptocurrencies. He explores the impact of historical catastrophes on leadership and decision-making, drawing parallels to contemporary crises, including recent public health responses. Ferguson emphasizes the importance of fostering free thought in academia through the establishment of the University of Austin, while also reflecting on the lessons history provides for navigating today's challenges.

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INSIGHT

University of Austin's Mission

A chilling effect constrains free speech and thought in universities.
Existing institutions may be unable to fix this, necessitating new ones like the University of Austin.

ADVICE

Importance of Intellectual Risk-Taking

Encourage intellectual risk-taking among young adults in universities.
View saying stupid things as a necessary step toward finding good ideas.

INSIGHT

Self-Censorship in Universities

Reporting professors for offensive speech is common among liberal students.
This creates a culture of self-censorship, hindering open discourse.

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Kissinger: 1923-1968

The Idealist

Niall Ferguson

This book, the first of a two-volume biography, challenges the common perception of Henry Kissinger as a cold realist by portraying him as an idealist influenced by philosophical traditions and moral imperatives. It delves into Kissinger's early life, education, and intellectual development, drawing on extensive archival material to paint a nuanced picture of his formative years.

The ascent of money

A Financial History of the World

Niall Ferguson

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].

Doom

The Politics of Catastrophe

Niall Ferguson

In 'Doom: The Politics of Catastrophe', Niall Ferguson delves into the global history of disasters, analyzing why humanity consistently fails to prepare for catastrophes. The book covers a wide range of disasters, from pandemics and earthquakes to financial crises and wars, and argues that many disasters have man-made components. Ferguson critiques the responses of developed countries to the COVID-19 pandemic and highlights the role of bureaucratic failures and complex systems in exacerbating disasters. The book draws on various fields such as economics, epidemiology, and network science to offer a general theory of disasters and suggests ways to improve future responses to crises.

The captive mind

Czesław Miłosz

Written after his defection from Stalinist Poland in 1951, 'The Captive Mind' is a philosophical and political essay that explores the allure of Stalinism to intellectuals and the mechanisms of totalitarian control. Miłosz uses metaphorical portraits of four Polish writers (Alpha, Beta, Gamma, and Delta) to illustrate the universal human phenomena and attitudes towards totalitarianism. The book critiques the philosophical systems of Marxism and Hegelian historical determinism, highlighting the internal longing for harmony and happiness that can lead individuals to submit to such regimes. It also discusses the personal and psychological costs of living under totalitarian rule, including the transformation of 'free minds' into instruments of the state[1][2][4].

Crime and Punishment

Bibliophile Bibliophile Pro

Constance Black Garnett

FYODOR DOSTOEVSKY

Published in 1866, 'Crime and Punishment' is a psychological novel set in St. Petersburg, Russia. It revolves around Rodion Raskolnikov, an impoverished and intellectually gifted former student who formulates a theory that some individuals are morally justified in committing crimes for the greater good of society. Raskolnikov puts this theory to the test by murdering an old pawnbroker and her half-sister, leading to a profound exploration of his psychological and emotional struggles with guilt, paranoia, and the consequences of his actions. The novel delves into socio-economic disparities, moral dilemmas, and the psychology of criminals, making it a classic of Russian literature and existential thought[2][4][5].

The Brothers Karamazov

Larissa Volokhonsky

Fyodor Dostoevsky

Richard Pevear

Set in 19th-century Russia, 'The Brothers Karamazov' is a novel that delves into the lives of the Karamazov family, focusing on the three brothers—Dmitri, Ivan, and Alyosha—and their complex relationships with their father, Fyodor Pavlovich Karamazov. The novel is a murder mystery, a courtroom drama, and an exploration of erotic rivalry, faith, doubt, and reason. It examines the human psyche, moral dilemmas, and the search for meaning in a world fraught with suffering and uncertainty. The story revolves around the murder of Fyodor Pavlovich and the subsequent trial of Dmitri, accused of the crime, while exploring deeper themes of Russian life, social and spiritual striving, and the clash between faith and reason[2][5][4].

War and Peace

Leo Tolstoy

Set during the Napoleonic Wars, 'War and Peace' follows the lives of several Russian aristocratic families, including the Bezukhovs, the Rostovs, and the Bolkonskys. The novel spans from 1805 to 1820 and is known for its realistic detail and psychological analysis. It explores the impact of Napoleon's invasion of Russia on the characters and society, delving into themes of love, family, war, and personal growth. The novel includes historical events such as the Battle of Austerlitz, the Treaties of Tilsit, and the French invasion of Russia, intertwining historical and fictional elements[3][4][5].

The Road

Tom Stechschulte

Cormac McCarthy

The Road is set in a world that has been devastated by an unspecified cataclysmic event, resulting in the extinction of nearly all life on Earth. The story follows an unnamed father and his young son as they travel south along the road, carrying their meager possessions and a pistol with only two bullets. The father, suffering from a worsening respiratory condition, is determined to protect his son from the dangers of their new world, including cannibalistic marauders. Along their journey, they encounter various survivors, some of whom are cruel and others who show kindness. The novel explores themes of love, survival, and the preservation of humanity in a world devoid of hope. Ultimately, the father's health fails, and he dies, but not before ensuring his son's safety with a new family who may offer a chance for a better future[2][3][4].

À la recherche du temps perdu

Marcel Proust

This novel, often referred to as 'In Search of Lost Time' in English, is a comprehensive work that delves into the narrator's memories and experiences from late 19th-century and early 20th-century high-society France. It is renowned for its exploration of involuntary memory, as exemplified by the famous 'episode of the madeleine'. The work is structured into seven volumes: 'Du côté de chez Swann', 'À l’ombre des jeunes filles en fleur', 'Le Côté de Guermantes', 'Sodome et Gomorrhe', 'La Prisonnière', 'Albertine disparue', and 'Le Temps retrouvé'. Proust began writing the novel in 1906 and continued until his death in 1922, with the last three volumes published posthumously[1][2][3].

Square and the Tower

Networks and Power, from the Freemasons to Facebook

Niall Ferguson

In this book, Niall Ferguson argues that networks have always been a crucial part of human society, from ancient cults to modern social media platforms like Facebook. He uses social network analysis to demonstrate how these networks often hold more real power than the hierarchical institutions they challenge. The book explores historical examples, including the Reformation and the rise of revolutionary ideas, to illustrate the ongoing struggle between 'the Square' (networks) and 'the Tower' (hierarchies). Ferguson also applies network theory concepts to understand both the past and the present, offering insights into how networks can transform our understanding of history and current affairs.

René de Resta wrote about this pre-2020

René Girard

The Road Less Traveled

M. Scott Peck

In this book, M. Scott Peck uses his experience as a psychiatrist to guide readers through the challenges of life. He argues that life is inherently difficult and that spiritual growth and self-awareness can only be achieved by confronting and overcoming these difficulties. The book is divided into four parts, focusing on discipline, love, spiritual growth, and the concept of grace. Peck emphasizes the importance of discipline in delaying gratification, accepting responsibility, dedicating oneself to truth, and balancing conflicting factors. He also discusses the myths and realities of love and how it supports spiritual evolution. The book highlights that avoiding problems leads to decreased growth and increased suffering, while facing them can lead to greater self-knowledge and inner peace[1][2][5].

Uncontrolled Spread

Scott Gottlieb

In 'Uncontrolled Spread', Scott Gottlieb examines the systemic failures in the U.S. response to COVID-19, highlighting issues such as inadequate preparedness and bureaucratic inefficiencies. He outlines necessary reforms to improve future pandemic responses, including enhancing the CDC's capabilities and leveraging intelligence services for global health surveillance.

Hermann Hesse

Herman Hesse

Hermann Hesse was a celebrated German novelist and poet, best known for his novels that explore themes of individualism, spirituality, and the search for meaning. His works include 'Siddhartha', 'Demian', 'Steppenwolf', and 'The Glass Bead Game'. Hesse's writing often reflects his interest in Eastern philosophy and his personal struggles with identity and societal expectations.

Autobiography

Benjamin Franklin

The Autobiography of Benjamin Franklin is a seminal work that spans several decades of Franklin's life, from his childhood in Boston to his later years as a respected statesman and scientist. The autobiography is divided into four parts, each written during different periods of his life. It covers his apprenticeship to his brother James, his early career as a printer and publisher, his experiments with electricity, and his civic and political involvements. The work is notable for its insights into Franklin's personal life, his pursuit of moral perfection, and his contributions to American history and culture.

Die deutsche Katastrophe

Friedrich Meinecke

In 'Die deutsche Katastrophe' von 1946 versucht Meinecke, die Entstehung und den Aufstieg des Nationalsozialismus im Kontext der deutschen Geschichte zu erklären. Er betrachtet den Nationalsozialismus als eine Art 'fremde Macht', die Deutschland erfasst hat, und legt die Schuld für die Katastrophe auf eine Kombination von historischen Faktoren und unglücklichen Zufällen. Meinecke bleibt dabei seiner nationalistischen und autoritären Weltanschauung treu, kritisiert jedoch die Brutalität und den Mangel an Moral des Nazi-Regimes.

The ascent of money

A Financial History of the World

Niall Ferguson

The Age of A.I.

MIT’s Daniel Huttenlocher

Eric Schmidt

Henry Kissinger

This book, written by Henry A. Kissinger, Eric Schmidt, and Daniel Huttenlocher, delves into the transformative effects of artificial intelligence on various aspects of human life, including medicine, pharmaceutical research, social structures, liberal values, and the defense industry. The authors, coming from diverse backgrounds in government, industry, and academia, discuss the need to understand and control AI's decisions and its potential to revolutionize human affairs. They argue that AI's rapid rise and deployment necessitate careful management to avoid dangerous consequences and to ensure that AI development aligns with societal needs[1][3][4].