Over time, the welfare state has become dysfunctional in a surprising way. But in a way it became a victim of its own success: It became so successful at prolonging life, that it becomes financially unsustainable, unless you make major changes to things like retirement ages.

I can't think of anything I would rather do with my money than buy my children the best possible education.

One of the main arguments that I make in my new book, 'The Great Degeneration,' is that the rule of law in the U.S. is becoming the rule of lawyers.

Niall Ferguson Quotes