One of the consequences of the Iranian revolution has been an explosion of history. A country once known only from British consular reports and intrepid travelogues is now awash with historical documents, letters, diaries, grainy video, weblogs and secret police files of questionable authenticity.

Because bankers measure their self-worth in money, and pay themselves a lot of it, they think they're fine fellows and don't need to explain themselves.

Liberty in Islam is the liberty to be a Muslim, democracy likewise, individualism likewise.

By pouring money and goods into devastated regions, foreign aid workers sometimes compound the disruption and debauch the survivors.

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 more GDP out of a barrel of oil than in those benighted days.

Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required.

Losing your capital is like losing your trousers. It is a real humiliation, and one not to be soon repeated.