"You don't have to be right. You just have to be fashionable at the time." : This quote will become one of Prof. Ferguson's most enduring of many worthwhile quotes.

Niall I have read your books many times Listened to your conversations Brilliant I see cultural of a given region as the most important This is the only thing I think you get wrong I have thought you are the most brilliant mind of our time Plus Ayaan. Blessings be Life Liberty n Justice for all

Niall is a superstar - no other historian comes close today in providing expert analysis on economic history. We are endowed with economic clowns that comment on CNN and BBC. Niall, keep the flag up and continue with the honest analysis

Empire, my father left India to settle in Kenya and paid tax to British tax authorities. But he never went to Britain. Small businesses were a source of revenue collection scheme during this colonial period. I've got receipts to prove it.

Great stuff Sir.

Called it Capitalism or Socialism anyone with More Productivity and competition Will Win✌️✌️✌️✌️

Great presentation.

Well done professor!

Could I get a definition of 'socialism' as meant/perceived in the polls?

I wish I could read the slides :-(

At 50:18 Ferguson summarises his argument that it was the superiority of Western institutions that was the main reason for the Great Divergence not factors like colonisation. I view his key point that “the divergence of incomes continued after colonisation” with distrust and suspicion. Economist Utsa Patnaik calculated that the British Empire drained a total of 45 trillion dollars during the period 1765-1938, therefore, this would have significantly stunted the economic growth of post-colonial India. Yes it is important to consider factors such as Western institutions being supposedly superior. However, money drained from colonies would have significantly impacted the growth of these colonies post-imperialism. Meaning that Ferguson’s point is largely invalid.

BOOM, Nialled it!

Great speech.

Niall be on the beam!

I adore Niall!

I admire Prof. Fergusson for his defense of Western values, and I am a capitalist, but there is certainly room within a capitalist (market economy) country for some socialism. In the U.S. we have the remnants of the New Deal still extremely popular and necessary. Yet there have always been a fair number of Conservatives and Libertarians in the U.S. who have been trying to dismantle the New Deal. If one could imagine the U.S., or any other country, with untrammeled capitalism, one would be wise to study the Gilded Age in the U.S. and the London economy of Chare's Dickens time. Not a pretty picture.

I love Niall

29:30 Ireland?!! - has Corporation Tax of a mere 12.5%

Someone PLEASE explain to Prof. Ferguson that Socialism ≠ Communism, he doesn't seem to understand this basic point.

Fantastic supple thinker who is so open as well. Bravo Niall

Ferguson is amazing as usual!

Niall Furguson should embrace the pronunciation that rhymes with "Nile" so as not to be confused with Neil Ferguson.

Often it's well meaning legislation that ends up doing harm. Things like minimum wage and rent control mostly just hurt poor people

Bernie is popular with college students because he says he'll cancel all their debt. In 1980, a student of mine said he was going to vote for Reagan because Reagan said he would get government out of people's lives, which in his mind meant that Reagan would make pot legal.

What would he say about China today?

This guy is way off the mark,, the point is not to equate the idea of modern socialism with the original definition because thats not what the people want. But they do want, and it will be very necessary for capitalism to survive is a return to more even wealth distribution. For capitalism to continue to thrive we need a vibrant and prosperous middle class spending money. The only way to grow this is either by immigration or raising the income and situations of the poorer people so they too can join the middle class.

Willy willy bum bum

Redistrabution is what killed middle class and paid what we didnt want. Want poor pay them get more.

we have to get lost to get found, universal basic income, lets evolve, please.

The higher the marginal tax rate, the slower the economic growth? Slower for whom, the rich, while everyone else stalls or goes backward?

Prof. Ferguson says younger voters lean towards socialism. As income inequality reaches extreme, the growing disenfranchised majority-millenials and base may turn to socialist politicians in the US.

Social Justice is problematic on may levels - for me the most problematic is "who decides'? Who decides what; is and isn't, who decides; when and how, etc essentially "Social Justice" is a euphemism for Lynching and Mobbing - in an online context. Lets name it for what it is so there is no confusion.

No doubt a great historian and philosopher of history but I believe it's very daring of him to try to wage in as an economist.

The most elegant way of explaining economics and politics if only our politicians could speak this way

But you forget as ppl get older in US, they get more pro capitalistic and against socialism.

Were google searches a thing in Thatcher's premiership?

Not very much is defined here. What does it mean to be an American socialist? Is it the socialism of Marx? The socialism of Sweden? What?

What about Ukraine?

Democracy and Socialism is the same thing. Both Democracy and Socialism are dependent to the Government. That's why Democracy\Socialism failed everywhere. Learn what Democracy did to Rome.

Brewster would not be amused

Soviet Union is the wrong example the correct one would be China

collective rights and minority rights don't go hand in hand in the same basket if he just stopped for a second and thought about it.

With Socialism you eventually run out of other peoples money ---- a problem

Revoke Article 50....

Capitalist socialism vs socialist capitalism.

He doesn’t consider social democrats socialists. Well I don’t consider government bailouts and handouts to big business capitalism. I don’t consider government funded R and D that made computers, the internet, gps, WiFi, touchscreen, and basically every component in our phones possible, capitalism.

Your sound is bad check it out

Great lecture! Politicians like Bernie & AOC are so clueless they can't even accurately describe themselves. They're social democrats, not socialists.

we dare to criticize China for trying to re-educate one million of its Uighur muslims to stem radicalisation by Muslim extremists. Meanwhile the west has been bombing numerous middle eastern countries, killing millions and causing a massive refugee crisis also in the effort to curb Muslim extremists. Kinda hypocritical if you think about it.

But what would happen if capitalist countries didn't do all they could to undermine or outright destroy socialist and communist countries? Maybe all the fall of the Soviet Union shows is that capitalism is better at destroying systems other than its own, than the other way around.

I'm proud to be Gen z and not a millennial.

Prof. Ferguson criticizes AOC and Bernie for calling themselves "socialists" when they advocate for social democratic policies. However, the political reality in America is that Republicans will call any Democrat a "socialist," regardless of their policy positions. I wish American politics was smart enough to use terms like "social democrat"... but it isn't.

Did Niall attend Trump's Social Media gathering?

Ferguson's acceptance at face value of satellite photography-based charges of Uyghur genocide over first person witness accounts of the freedoms enjoyed by Uyghur in Xinjiang is good proof that tenured professors can get things very badly wrong despite the glib tongued lectures they are capable of delivering. The facts about Uyghur rights and their treatment are out of his league, obviously. Having travelled often to China and several time to Xinjiang, I can tell you I was once laughed at by local l Uyghurs when I suggested that men in trench coats might be rounding up men and women in the dead of night in Xinjiang. Obviously, Ferguson's has never stepped into Xinjiang. There is no need to infer things from photos taken a hundred kilometres overhead. Just visit the goddamned place!

So socialism is bad except when Wall Street and the rich need to be bailed out for their mistakes--and then socialism for them is OK?

Very few economists stand the test of time because they are UNSCIENTIFIC. A load of old tosh here and just further evidence that economists haven’t got a scooby. What they don’t understand is familial and community endeavour, when you destroy that you destroy economic endeavour.

It‘s a waste of time. 52 minutes of nothing. Abstract „-ism“s. Few people even understand what those „-ism“s at all. Try any of Chalmers Johnson‘s interviews; a 3-minute short clip has more information and wisdom that Ferguson, who seems to have the power to put any insomniac to sleep in a couple of minutes.

Nial was quite dishonest in this speech.

Can’t stand how he cherry picks his data and examples. To be a conservative intellectual you have to be dishonest.

I watched the disgusting and revolting and insulting behavior of the over self approving Mr, Ferguson in his interview with Geoffery Sachs where he displayed a viscious and revolting behavior interview towards Mr. Sachs, who unlike Ferguson with flat out insulting behavior towards Sachs. The difference? Sachs was involved in the actual transition of Russia from communism to vulture crony capitalism which has not served Russia well. Meantime what real world experience has Ferguson had, other other than viciously insulting attacks upon others that disagree with him? Bugger all. No real world experience, just ivory tower analysis and nasty commentary from ha;;;owed halls of Harvard. To be honest I find him to the least introspective and honest economists in the entire field, a man likely suffering from bipolar disease or narcissism and overly fond of his trite commentary and unrealistic thoughts.

Niall aservent of his lord,betrail of his past,poor Scotland,shame on you.his words are rubish,nonsence

Nail ferguson out of date ,put in garbeg ,fake intlectull

Though I really admire Niall I'm disappointed to see him conflate socialism with communism.

He lied about China.