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Niall Ferguson holds a PhD in philosophy from Oxford, taught history at Harvard and NYU, and wrote perhaps the definitive biography of Henry Kissinger. So, naturally, Bloomberg hired him to write on economics. His most recent column for Bloomberg is a strained

[This article is excerpted from chapter one of The Rise and Fall of Society.] It may be that wary beasts of the forest come around to accepting the hunter's trap as a necessary concomitant of foraging for food. At any rate,