I listened to an audio version of this (superbly read by Sean Barrett) with great fascination. For one thing, I learned about a number of aspects of the British Empire that I had not known before - as an American, learning about this aspect of history was not required reading beyond knowing about the American Revolution. Secondly, I know that Ferguson is a well-known conservative intellectual - so I am happily surprised to see that this is a clear-eyed, well-balanced endeavor, one that does not sugarcoat the evils and flaws of the empire while making a convincing effort to enumerate its good points. Also I would like to add that Ferguson is very good at illustrating this study with effective anecdotes and discussions of the many colorful (and sometimes troubling) characters connected with the empire, including Rudyard Kipling, Lachlan Macquarie ("the father of Australia"), Lord Durham, General Kitchener, Cecil Rhodes, Stanley Livingstone, Warren Hastings, Queen Victoria, Thomas Pitt, T.E. Lawrence, and many others.
Ferguson discusses the empire from its beginnings (the occupation of Northern Ireland) to the present era. He points out that Britain was a latecomer to the empire building game, and had to struggle to catch up to Spain, Portugal, and Holland, but eventually did, through a combination of shrewdness, good financial moves, and piracy. He goes over the defection of the USA (at the time an insignificant place in comparison with the West Indies and their sugar plantations) and its lasting impact, and points out that Britain was careful to not make the same mistake with Canada. The empire was maintained through a combination of factors, chief among them military might, naval power, and technical superiority. But he also points out that the whole business was never all that profitable, and the glory and excitement of it were a huge part of its appeal. He makes a strong case that the real cause of its collapse was not the uprisings that occurred in India and other places, but financial devastation due to the world wars - the UK could simply no longer afford to maintain colonies. Deeply jealous of its Anglo cousins, Germany utterly failed in its attempt to replicate empire building in Eastern Europe, but it did succeed in speeding the collapse of the British Empire.
Ferguson points out that the British, despite their racism and exploitation of native peoples, also did their best to govern fairly, and that in most places they left behind strong institutions and the foundations of successful democracies. He argues forcefully that the alternative would not have been free and peaceful self-governed lands, but the empires of Spain, Germany, Japan, France, Italy, and Belgium, all of which were far harder on native peoples than the British were. Towards the end he makes the case that the Empire lives on in the work of its former colonies, primarily the world's only superpower today, the USA. He is aware that America, having been born in opposition to colonialism, does not like to see itself as a colonial power, but he argues that it is one anyway, not overtly but economically and culturally (thus giving credence to the views of anti-Americans everywhere.) The difference is that Ferguson sees this as a good thing. Maybe the British Empire and its American heir are responsible for the spread of civilization, rule of law, and faith in liberty and decency worldwide. No doubt these points will be argued for many years to come, but they are well worth considering, especially when presented in a form that is thought-provoking and enjoyable to read, which is the case here.