Posts Tagged ‘Niall Ferguson’

Niall Ferguson: Ascent of Money

Posted by admin on Saturday, April 29, 2023

Meaning of Niall Ferguson Money Quote: saying you can tie the advancement of society to the advancement of money and finance. Niall Ferguson said:

 
The ascent of money has been essential to the ascent of man Quote
 

“The ascent of money has been essential to the ascent of man” — Niall Ferguson

 

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This quote from historian Niall Ferguson suggests that the development of money and financial systems has played an important role in human progress and advancement. By facilitating trade, specialization, and investment, the “ascent of money” has likely contributed to improvements in living standards, technology, healthcare, education, and other areas over the long run of history.

However, money is a human creation and not an end in itself, so pursuing wealth and economic growth alone will not lead to a just, sustainable or spiritually fulfilling society without balanced priorities. Overall development requires attention to both material and non-material aspects of human well-being.

Niall Ferguson: Ascent of Money

Posted by admin on Saturday, October 29, 2022

Meaning of Niall Ferguson Money Quote: saying money became a greater factor as the human race ascended. Niall Ferguson said:
 
The ascent of money has been essential to the ascent of man Quote
 

“The ascent of money has been essential to the ascent of man” — Niall Ferguson

 

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Share the Niall Ferguson Money quote image above on your site:

 
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This quote from historian Niall Ferguson suggests that the development of money and financial systems has played an important role in human progress and advancement. By facilitating trade, specialization, and investment, the “ascent of money” has likely contributed to improvements in living standards, technology, healthcare, education, and other areas over the long run of history.

However, money is a human creation and not an end in itself, so pursuing wealth and economic growth alone will not lead to a just, sustainable or spiritually fulfilling society without balanced priorities. Overall development requires attention to both material and non-material aspects of human well-being.

Niall Ferguson: Financial Defect

Posted by admin on Sunday, October 23, 2022

Meaning of Niall Ferguson Money Quote: saying the financial system shows what humans are truly like. Niall Ferguson said:
 
financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreach Quote
 

“If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility” — Niall Ferguson

 

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This quote from Niall Ferguson suggests that the financial system acts as an amplifier for human tendencies towards overconfidence and overreaction. When the economy is doing well, people become overly optimistic and “exuberant”, fueling booms in markets. But then, when things take a turn for the worse, people overcorrect in the other direction and fall into deep “depression”, exacerbating busts.

In other words, the ups and downs we see in the economy – booms and busts – are at least partly due to the inherent emotional volatility of human nature. And because the financial system aggregates and magnifies the behavior of many individuals and institutions, it has the effect of making these swings between optimism and pessimism even more extreme.

So according to Ferguson, while the financial system itself may have flaws, at its core the boom-bust pattern reflects our own psychological tendencies as human beings.

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