Ferguson term paper
Term Paper
Part A:
In the introduction of Ferguson’s book, he talks about these four black boxes. He uses these four sealed black boxes to “demonstrate that Western institutions have indeed degenerated” (Ferguson page 11). The first of these “long-sealed” boxes is “ labelled ‘democracy’. The second is labelled ‘capitalism’. The third is ‘the rule of law’. And the fourth box labelled ‘civil society’” (Ferguson). Each one of these boxes are an important part of how our civilization works. The purpose for revealing these black boxes, Ferguson states, is “that inside these political, economic, legal, and social black boxes are highly complex sets of interlocking institutions. Like the circuit board inside your computer or your smartphone, it is these institutions that make the gadget work. And if it stops working, it is probably because of a defect in the institutional wiring.”
As countries become bigger they are also becoming richer. The problem with this is that these countries then move into a stationary state where they do not grow economicly because they just live off their riches for so long and to a point where they are not as advanced as the rest of the new advanced countries. The major problem is stagnation. As a whole, these countries growth starts to slow down and stop, they go into crushing debt, inequality increases, the population starts to age, and they become antisocial. Having a representative government, a free market, rule of law, and a civil society, these four pillars, as Niall Ferguson called them where the reason why the West prospered more than countries like China and Japan. Having deteriorated, democracies have broken between generations by heaping IOU’s on “our children”. Causing the markets to hinder by over complex regulations.
“Democracy is a means for the people to choose their leaders and to hold their leaders accountable for their policies and their conduct in office. The people decide who will represent them in
Part A:
In the introduction of Ferguson’s book, he talks about these four black boxes. He uses these four sealed black boxes to “demonstrate that Western institutions have indeed degenerated” (Ferguson page 11). The first of these “long-sealed” boxes is “ labelled ‘democracy’. The second is labelled ‘capitalism’. The third is ‘the rule of law’. And the fourth box labelled ‘civil society’” (Ferguson). Each one of these boxes are an important part of how our civilization works. The purpose for revealing these black boxes, Ferguson states, is “that inside these political, economic, legal, and social black boxes are highly complex sets of interlocking institutions. Like the circuit board inside your computer or your smartphone, it is these institutions that make the gadget work. And if it stops working, it is probably because of a defect in the institutional wiring.”
As countries become bigger they are also becoming richer. The problem with this is that these countries then move into a stationary state where they do not grow economicly because they just live off their riches for so long and to a point where they are not as advanced as the rest of the new advanced countries. The major problem is stagnation. As a whole, these countries growth starts to slow down and stop, they go into crushing debt, inequality increases, the population starts to age, and they become antisocial. Having a representative government, a free market, rule of law, and a civil society, these four pillars, as Niall Ferguson called them where the reason why the West prospered more than countries like China and Japan. Having deteriorated, democracies have broken between generations by heaping IOU’s on “our children”. Causing the markets to hinder by over complex regulations.
“Democracy is a means for the people to choose their leaders and to hold their leaders accountable for their policies and their conduct in office. The people decide who will represent them in
Cited: Ferguson, Niall. The Great Degeneration: How Institutions Decay and Economies Die. N.p.: n.p., n.d. Print. Ferguson, Niall. "Niall Ferguson: The Cure for Our Economy’s Stationary State." Newsweek. N.p., 16 July 2012. Web. 02 June 2014. Gardner, John W. Self-renewal: The Individual and the Innovative Society. New York: Harper & Row, 1964. Print. "What Is Democracy?" What Is Democracy? N.p., n.d. Web. 30 May 2014.