Bulls don't read. Bears read financial history. As markets fall to bits, the bears dust off the Dutch tulip mania of 1637, the Banque Royale of 1719-20, the railway speculation of the 1840s, the great crash of 1929. — James Buchan Copy Share Image
Viewed from a distance, or through the eye of the All-Knowing CEO of the Universe, the crash of 2008 followed the usual pattern. A long-lived boom driven by cheap credit, going back as far as 1982 (though subject to interruptions… — James Buchan Copy Share Image
The prevailing ideology of the modern west - which is political economy - is in the doghouse. Having failed to notice atmospheric pollution, the… — James Buchan Copy Share Image
For 50 years, nuclear power stations have produced three products which only a lunatic could want: bomb-explosive plutonium, lethal radioactive waste and electricity so… — James Buchan Copy Share Image
Europe and North America, we are told, are less dependent on energy-intensive heavy industry than in the 1960s and 1970s. It seems we squeeze… — James Buchan Copy Share Image
In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial… — James Buchan Copy Share Image
The world dominion of western thought, forms of organisation, technology and military force is not God-given, nor eternal, nor greatly appreciated by the rest… — James Buchan Copy Share Image
Whatever else it was, Adolf Hitler's short-lived regime was also a colossal industrial process by which the wealth and productive power of much of… — James Buchan Copy Share Image
Ever since the destruction of Baghdad by the Mongols in 1258, the Muslim world has been in slow decline relative to the west. With… — James Buchan Copy Share Image
“My wages came to me not to satisfy any need-- mine were anyway private, affectionate, atrocious-- but to make my needs universal: to incorporate… — James Buchan Copy Share Image
For all their current prestige, Osama bin Laden and the suicide bombers are still regarded in all but the most desperate districts of Gaza… — James Buchan Copy Share Image
Almost all novels are improved by cutting from the top. On their first pages, authors parade those favourite effects which disgust the impartial reader. — James Buchan Copy Share Image
Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required. — James Buchan Copy Share Image
