To give money to a woman - and here I must speak as a man - is to deny her special quality, her irreplaceability, and reduce her unique amiability to a commodity. Money takes away her name, while transforming her lover into a nameless customer of a market of appetites.

The dividing line between wish and need was never clear.

Of all the failed technologies that litter the onward march of science - steam carriages, zeppelins, armoured trains - none has been so catastrophic to prosperity as the last century's attempt to generate electricity from nuclear fission.

Cause and effect, the riddle of all history, is a particular devil in financial history; and never more so than today, where entire classes of security are collapsing not on public exchanges and stock-tickers but because there are no markets to establish prices this side of nothing.

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

If good history is dispassionate history, it must naturally wait until the passions of the period subside.

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