Niall Ferguson

Milbank Family Senior Fellow

Niall Ferguson, MA, D.Phil., is the Milbank Family Senior Fellow at the Hoover Institution, Stanford University, and a senior fellow of the Center for European Studies, Harvard, where he served for twelve years as the Laurence A. Tisch Professor of History. He is also a visiting professor at Tsinghua University, Beijing, and the Diller-von Furstenberg Family Foundation Distinguished Scholar at the Nitze School of Advanced International Studies in Washington, DC. He is the author of fifteen books, most recently The Square and the Tower. His previous book, Kissinger, 1923-1968: The Idealist, won the Council on Foreign Relations Arthur Ross Prize. He is an award-making filmmaker, too, having won an international Emmy for his PBS series The Ascent of Money. His many other prizes include the Benjamin Franklin Prize for Public Service (2010), the Hayek Prize for Lifetime Achievement (2012) and the Ludwig Erhard Prize for Economic Journalism (2013). In addition to writing a weekly column for the Sunday Times (London) and the Boston Globe, he is the founder and managing director of Greenmantle LLC, an advisory firm. He also serves on the board of Affiliated Managers Group. His new book, The Square and the Tower, was published in the U.S. in January.

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Recent Commentary

Analysis and Commentary

The Economic Consequences Of Mr. Osborne

by Niall Fergusonvia Project Syndicate
Tuesday, May 19, 2015

“If the facts change,” John Maynard Keynes is supposed to have said, “I change my opinion. What do you do, sir?” It is a question his latter-day disciples should be asking themselves now. Long before the United Kingdom’s recent general election, which the Conservatives won by a margin that stunned their critics, the facts about the country’s economic performance had indeed changed. Yet there is no sign of today’s Keynesians changing their minds.

Analysis and Commentary

The UK Labour Party Should Blame Keynes For Their Election Defeat

by Niall Fergusonvia Financial Times
Sunday, May 10, 2015
Credit where credit is due. Lynton Crosby is getting the plaudits for the Conservative party’s successful election strategy, but the real architect of this victory was surely George Osborne, the chancellor. In England, the Conservatives won because Mr Osborne was right and his critics were wrong.
Taylor Jones cartoon

Are We Reliving 1914?

by Niall Fergusonvia Hoover Digest
Wednesday, January 28, 2015

There are disturbing parallels—and heartening differences.

Analysis and Commentary

The ‘Divergent’ World Of 2015

by Niall Fergusonvia Wall Street Journal
Friday, January 2, 2015

Veronica Roth’s novel offers a useful way of viewing global politics and economics. Let’s hear it for Dauntless America.

Analysis and Commentary

The Return of Volatility Is Mainly About Monetary Policy

by Niall Fergusonvia Wall Street Journal
Sunday, October 26, 2014

This month’s wild market swings show there is no smooth exit from QE3.

Analysis and Commentary

Scotland’s No Echoes Europe’s Yes to Grand Coalitions

by Niall Fergusonvia Financial Times
Sunday, September 21, 2014

The union is saved. Alex Salmond, Scotland’s nationalist first minister, has resigned. All the ink spilled on the benefits and costs of an independent Scotland can be consigned to counterfactual history. The only pressing question is the significance – and consequences – of the No vote.

Analysis and Commentary

Scottish Referendum: Alone, Scotland Will Go Back to Being a Failed State

by Niall Fergusonvia The Telegraph
Wednesday, September 17, 2014

No good deed goes unpunished. In granting residents of Scotland a referendum on their country’s political future, David Cameron surely thought he was doing a good deed. The Scottish National Party would have to put up or shut up. A Yes vote would be a victory for them.

British Flag
Analysis and Commentary

Scots Must Vote Nae

by Niall Fergusonvia New York Times
Sunday, September 14, 2014

GLASGOW — To most Americans, Scotland means golf, whisky and — if they go there — steady drizzle. Even to the millions of Americans whose surnames testify to their Scottish or Scotch-Irish ancestry, the idea that Scotland might be about to become an independent country is baffling.

Analysis and Commentary

War: In History’s Shadow

by Niall Fergusonvia Financial Times
Friday, August 1, 2014

A century has passed since the guns of August 1914 ended the era of European predominance with a deafening bang. Could such a catastrophe recur in our time?

The Great Degeneration: How Institutions Decay and Economies Die

The Great Degeneration: How Institutions Decay and Economies Die

by Niall Fergusonvia Fellow Talks
Monday, May 5, 2014

Niall Ferguson, a senior fellow at the Hoover Institution, discussed the falling quality of American institutions in his talk entitled “The Great Degeneration: How Institutions Decay and Economies Die.