If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.
It's all very well for us to sit here in the west with our high incomes and cushy lives, and say it's immoral to violate the sovereignty of another state. But if the effect of that is to bring people in that country economic and political freedom, to raise their standard of living, to increase their life expectancy, then don't rule it out.
Interpretation
What this quote means
The quote discusses the moral complexities of intervening in other nations for the sake of promoting freedom and improving living conditions.
Niall Ferguson's quote raises important questions about the morality of foreign intervention. While it is easy for those in affluent countries to condemn actions that violate another nation's sovereignty, the potential benefits of intervention—such as economic and political freedom, improved standards of living, and increased life expectancy—must also be considered. The quote challenges us to think about the ethics of our stances on international politics and the implications of our privilege.
Themes
In practice
Example use cases
This quote could be used in a discussion about international relations during a university lecture.
More from Niall Ferguson
All quotes →Civilisation is partly about restraining the male of the species from engaging in the violence of the hunter-gatherer period. But it doesn't take an awful lot to unleash it.
For 500 years the West patented six killer applications that set it apart. The first to download them was Japan. Over the last century, one Asian country after another has downloaded these killer apps- competition, modern science, the rule of law and private property rights, modern medicine, the consumer society and the work ethic. Those six things are the secret sauce of Western civilization.
The West may collapse very suddenly. Complex civilizations do that, because they operate, most of the time, on the edge of chaos.
Over time, the welfare state has become dysfunctional in a surprising way. But in a way it became a victim of its own success: It became so successful at prolonging life, that it becomes financially unsustainable, unless you make major changes to things like retirement ages.
Today, the average Korean works a thousand hours more a year than the average German. A thousand. ... That is the end of the Great Divergence.
Similar quotes
The Tao teaches us to let go of things. Use the 80/20 rule. If you take all your clothes, you'll find out that you only wear 20 percent of them. Take what you have and don't use and circulate it. Give stuff to people who truly need it. After all, we come into this world with nothing; we leave this world with nothing.
There is a terrific disadvantage in not having the abrasive quality of the press applied to you daily. Even though we never like it, and even though we wish they didn't write it, and even though we disapprove, there isn't any doubt that we could not do the job at all in a free society without a very, very active press.
The ultimate, most holy form of theory is action.
Books and drafts mean something quite different for different thinkers. One collects in a book the lights he was able to steal and carry home swiftly out of the rays of some insight that suddenly dawned on him, while another thinker offers us nothing but shadows - images in black and grey of what had built up in his soul the day before.
With Christ, it is not how much we give, but what we do not give that is the real test.
People have to be atomized and segregated and alone. They're not supposed to organize, because then they might be something beyond spectators of action. They might actually be participants if many people with limited resources could get together to enter the political arena. That's really threatening.