The Week

Leading article

Wall Street Journal – correction

The Spectator corrects a recent article Correction: In the version of Victoria Floethe’s story that appeared in this week’s magazine, we inadvertently referred at one point to the Wall Street Journal instead of the New York Post.  We accept that there is no basis for suggesting that the WSJ might have indulged in an act


Diary of a Notting Hill nobody | 1 November 2008

Monday Yikes! Memo from Jed in California marked ‘Urgent and F***ing Desperate’. It’s v. bad news. It seems the brand is recontaminated. Lord A’s latest focus group asked people to name the first four words that came into their heads when shown a picture of Dave and Gids: yachts; hookers; Coke; and moussaka were the

Ancient and modern

Ancient & modern | 01 November 2008

Last time we saw that the Romans did not have anything like a banking system i.e. a machinery for creating credit through various negotiable instruments. What they did have was minted coin — and that was the sole monetary instrument. So at a personal level, if you wanted money, you went to a rich friend and

More from The Week

Riders on the storm

It is one of the peculiarities of a recession that it cannot officially be acknowledged until, often, it is already history. This week, we learned that the economy shrunk 0.5 per cent in the third quarter of 2008. It will not be until January, however, when two quarters of negative growth have been recorded, that

Powerful prose

To the British Academy last week for a heartening prizewinning ceremony. No gongs, no red carpet, no dangerous stilettos on this occasion — not even a fabulous cheque to dole out to the winners. But instead tributes (and modest money) to the work of two writers — Adam Beeson and Stephen Wyatt — who have


Letters | 1 November 2008

Poorer each day Sir: Patrick Macaskie (‘The market needs short-sellers’, 25 October) is indeed correct in suggesting that the problems caused by excessive borrowing could be solved by a round of inflation; in the same way the problem of a building having caught fire can be solved by allowing it to burn down. As Macaskie