Monday, September 25, 2006

Economic Volatility

Part Three

Niall Ferguson argues that there are three root causes of warfare

1) Ethnic hatred
2) Empires in decline
3) Economic volatility

Ethnic hatred - look around. Empires in decline; The European colonial empries are dust, the Soviet Union on the ashheap, the Chinese have their own troubles.

Economic volatility ". . . the first decade of the 21st century could see the fastest growth in average world income in the whole of history."

Interesting times ahead.
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