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Posts tagged “Great Divergence

Decline of Killer App #3


If you look at the success of Western society the past two centuries, over most of the rest of the world, one of the key components, the building blocks of that success, is property rights of the individual protected by law. I believe the phrase in Americanish goes something like, “possession is 9/10ths of the law.” You have an entire Amendment in the US Constitution almost entirely dedicated to the subject, so on and so forth. You can see the importance of those rights in a recent TED Talk given by historian, Niall Ferguson (see embedded video), as he candidly discusses the decline of Western civilization and the ending of the Great Divergence.
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