---
title: "1 Deep depression Quotes By Niall Ferguson"
description: "1 Deep depression quotes by Niall Ferguson. Plus more from Niall Ferguson and more Deep depression sayings from other authors."
image: "https://sms4smile.com/quotes/i/1b3/niall-ferguson-3627_amplify_if-the-financial-system-has-a-defect-it_2342064.png"
---

> [If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they…](https://sms4smile.com/quotes/niall-ferguson/if-the-financial-system-has-a-defect-it-is-that-it-reflects-and/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

[Image](https://sms4smile.com/quotes/i/1b3/niall-ferguson-3627_amplify_if-the-financial-system-has-a-defect-it_2342064.png)

## More by Niall Ferguson

> [“I wrote this book because I had formed a strong impression that the people currently living were paying insufficient attention to the dead.”](https://sms4smile.com/quotes/niall-ferguson/i-wrote-this-book-because-i-had-formed-a-strong-impression-that-the/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“Consider this: the US economy created 2.4 million jobs in the three years beginning in June 2009. In the same period, 3.3 million Americans…](https://sms4smile.com/quotes/niall-ferguson/consider-this-the-us-economy-created-2-4-million-jobs-in-the-three/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [I think the rise of quantitative econometrics and a highly mathematical approach to risk management was the obverse of a decline in interest in…](https://sms4smile.com/quotes/niall-ferguson/i-think-the-rise-of-quantitative-econometrics-and-a-highly/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“Is it better today to be in a network, which gives you influence, than in a hierarchy, which gives you power?”](https://sms4smile.com/quotes/niall-ferguson/is-it-better-today-to-be-in-a-network-which-gives-you-influence-than/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [As a teacher, my strategy is to encourage questioning. I'm the least authoritarian professor you'll ever meet.](https://sms4smile.com/quotes/niall-ferguson/as-a-teacher-my-strategy-is-to-encourage-questioning-i-m-the-least/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [Ask me not, 'Are you rightwing,' but ask me 'Are you a committed believer in individual freedom, the values of the enlightenment?' Then, yeah,…](https://sms4smile.com/quotes/niall-ferguson/ask-me-not-are-you-rightwing-but-ask-me-are-you-a-committed-believer/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“Many historians still tend to assume that the spread of an idea or an ideology is a function of its inherent content in relation…](https://sms4smile.com/quotes/niall-ferguson/many-historians-still-tend-to-assume-that-the-spread-of-an-idea-or-an/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“the twentieth century ran a series of experiments, imposing quite different institutions on two sets of Germans (in West and East), two sets of…](https://sms4smile.com/quotes/niall-ferguson/the-twentieth-century-ran-a-series-of-experiments-imposing-quite/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“Historians are not scientists. They cannot (and should not even trying to) establish universal laws of social or political "physics" with reliable predictive powers.…](https://sms4smile.com/quotes/niall-ferguson/historians-are-not-scientists-they-cannot-and-should-not-even-trying/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [You really struggle to be a successful empire if you are also the world's biggest debtor.](https://sms4smile.com/quotes/niall-ferguson/you-really-struggle-to-be-a-successful-empire-if-you-are-also-the/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“One difficulty is that we cannot always reconstruct the past thoughts of these non-Western peoples, for not all of them existed in civilizations with…](https://sms4smile.com/quotes/niall-ferguson/one-difficulty-is-that-we-cannot-always-reconstruct-the-past-thoughts/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [If young men have jobs - or the prospects of jobs - they are less likely to take up arms, they are less likely…](https://sms4smile.com/quotes/niall-ferguson/if-young-men-have-jobs-or-the-prospects-of-jobs-they-are-less-likely/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [I think that it is important to be gregarious, and that friendships are not just a leisure pursuit, that they are an integral part…](https://sms4smile.com/quotes/niall-ferguson/i-think-that-it-is-important-to-be-gregarious-and-that-friendships/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“The question was simply this: Would the world be French or British?”](https://sms4smile.com/quotes/niall-ferguson/the-question-was-simply-this-would-the-world-be-french-or-british/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

> [“it is not ‘Eurocentrism’ or (anti-)‘Orientalism’ to say that the rise of Western civilization is the single most important historical phenomenon of the second…](https://sms4smile.com/quotes/niall-ferguson/it-is-not-eurocentrism-or-anti-orientalism-to-say-that-the-rise-of/)

[Niall Ferguson](https://sms4smile.com/quotes/author/niall-ferguson/)

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