Historian Niall Ferguson on why we fail to prepare for disasters

Financial Times/Douglas Anderson

Repost from 4-29-2021

Artist rendering of Noah's ark on Mount Ararat, painting on wood, 1570

“And goodness, he [Niall Ferguson] really does have an enormous canvas. Doom seeks to understand why humanity, time and again through the ages, has failed to prepare for catastrophes, whether natural or man-made.'”

USAGOLD note: It seems nigh impossible to prepare as a society for the worst outcome simply because so many parts must fit together in order to get such a plan to work, let alone determining what kind of catastrophe we should expect. That said, the individual has it well within his or her power to prepare for disastrous events, particularly those originating in financial markets and/or the general economy. This piece reviews Niall Ferguson’s latest historical work – Doom: The Politics of Catastrophe.”

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