“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."
Wednesday, November 19, 2008
The baffling world of money and history unscrambled by Niall Ferguson.
This is a long clip, but worthy of a listen while you do something else. I have followed Niall Ferguson for some time and he is no fool. He puts the current financial situation in an historic perspective.