- Historian Niall Ferguson warned Friday that the world is sleepwalking into an era of political and economic upheaval akin to the 1970s — only worse.
- Speaking to CNBC at the Ambrosetti Forum in Italy, Ferguson said that the catalyst required to spark a repeat of the 70s — namely inflation and international conflict — had already occurred.
- "The ingredients of the 1970s are already in place," Ferguson, Milbank Family Senior Fellow at the Hoover Institution, Stanford University, told CNBC's Steve Sedgwick.
