Why are rich countries in decline? Its signs are everywhere today. slowing economic growth, crippling debt, rising inequality, an aging population, and anti-social behavior. But what exactly is wrong? In The Great Recession, Neil Ferguson explains that Western institutions—the complex systems in which society can flourish or perish—are crumbling today. Western democracy today has broken the agreement between generations because we leave our children and grandchildren with a heavy burden of debt. The normal development of our markets is hampered by overly complex regulations, instead of solving existing problems, they bring new ones to light. The supremacy of law turns into the supremacy of lawyers. Civil society has become uncivil, and people lazily expect the state to solve all their problems. Ferguson warns that heroic leadership and radical reform are needed to halt the decline of the West's once-dominant civilization. Condemning the failure of Western civilization, the work "The Great Fall" is a kind of indictment with a call to sober up.
