The great degeneration [how institutions decay and economies die]
What causes rich countries to lose their way? Symptoms of decline are all around us today: slowing growth, crushing debts, increasing inequality, aging populations, antisocial behavior. But what exactly has gone wrong? The answer, Niall Ferguson argues in The Great Degeneration, is that our institutions₇the intricate frameworks within which a society can flourish or fail--are degenerating.
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