Niall Ferguson

3 Results

 

The End of Chimerica

For the better part of the past decade, the world economy has been dominated by a unique geoeconomic constellation that the authors call "Chimerica": a world economic order that combined Chinese export-led development with U.S. overconsumption on the basis of a financial marriage between the world's sole superpower and its most likely future rival. For China, the key attraction of the relationship was its potential to propel the Chinese economy forward by means of export-led growth. For the United States, Chimerica meant being able to consume more, save less, and still maintain low interest rates and a stable rate of investment. Yet, like many another marriage between a saver and a spender, Chimerica was not destined to last. In this paper, economic historians Niall Ferguson of HBS and Moritz Schularick of Freie Universitšt Berlin consider the problem of global imbalances and try to set events in a longer-term perspective. Read More

Business Summit: Niall Ferguson and the Certainty of Uncertainty

The economic crisis should not have been unexpected, says professor Niall Ferguson. Business leaders should consider history when developing their strategies, plans, and models, and should keep in mind that outlier events occur. Read More

What Could Bring Globalization Down?

Do you think the forces of globalization are here to stay? Harvard professor Niall Ferguson says nothing is for certain. Consider what happened to the "first age of globalization" in 1914—and then look around at the world today. Read More