August 2, 2012

The Perils of Ignoring History

The Perils of Ignoring History: This Time, Europe Really Is on the Brink - Niall Ferguson

Comment: Ferguson is among my very favorite commentators. Crises typically breed extremist responses if the normally stabilizing influences of existing institutions and their processes fail to effectively address them. Peoples effected by forces beyond their control, in reality or even presumed, typically seek scapegoats to offset the sense of helplessness or actual blame. We are likely to see such reactions as the financial crisis in Europe deepens and spreads.

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