From:http://en.wikipedia.org/wiki/Niall_Ferguson#World_War_I I have some issues with his assertions- 6 and 7 on the one hand and 11 on the other seem to contradict one another. And 1 seems especially dubious. But in general his point that a likely Pax Germana in Europe would be preferable to a long drawn out WW1, subsequent WW2, ascendant fascism and then communist domination of half of Europe seems reasonable. Not to mention preventing the destruction of the Ottoman Empire and the resultant instability and reactionary tendencies in the Middle East. The only especially troubling consequence that I can see is that British capacity to sustain it's empire would not have been crippled- colonialism might even have continued until present day.