If you ever happen to find yourself teaching an economics class at a private school, here’s a question you could write on the blackboard. Which industry manages to keep pushing up its prices faster than inflation, and expanding its market share at the same time? The answer is the one you’re in: private education. In
New Orleans always had a split personality. There was the picture-postcard city that visitors enjoyed: lovely, languid, funky, obsessed with food and music and bon temps, in the local parlance. Then there was workaday New Orleans, home to poverty that would have shocked the rest of America and the developed world if they had seen
Suppose you have 15 minutes to while away waiting for the train. Why not pull out your mobile phone, punch in your pin number and download a Playboy movie for as little as £5? Not interested? Of course you’re not; you’re a Spectator reader, for heaven’s sake. But there are plenty of people out there
If I had a teenage child with a passion for serious music, I would not hesitate to give him or her Essays in Musical Analysis by Donald Francis Tovey. This is a formidable work. The first volume is on symphonies, the second on symphonies, variations and orchestral polyphony, the third on concertos, the fourth on
We smile, naturally, sometimes on our first day of life. But we have to learn to laugh — that is, we imitate the mouth motions, facial contortions and, above all, the laugh noises of our elders. This is why the way we laugh is part of our breeding. I notice every year at the Christmas
I like to think I helped start the national debate about fairness and executive pay with an article here in May 1993 headlined ‘Snouts in the Trough’, illustrated by Garland with pin-striped porkers helping themselves to huge portions of gravy. Since then, bosses’ pay packets have ballooned — the heat in 1993 was caused by
It says something about how cosmopolitan the City has become that, for my money, the three winners of my personal ‘people of the year’ awards are an Irishman, a Dutchwoman and an Indian. The latter is Lakshmi Mittal, who had the audacity to take on the French establishment with his bid for Arcelor and win.
The Velázquez show at the National Gallery has reminded me that art history is not only about what was, and what is, but what might have been. This Andalusian from Seville (his father was Portuguese) was a lifelong snob and social climber and later maintained his family were of gentry, if not noble, stock. We
Journalists are paid to be thought-provoking, but something very odd comes over them when they unfold their thoughts on the subject of Latin. Neal Ascherson, for example, once argued in the Independent on Sunday that he had been taught Latin at Eton as ‘a rite of exclusion for those outside, a ceremony of submission for
A friend of mine recently sustained terrible injuries to his hand when his shotgun blew up. Such accidents fill me with horror, not least because they remind me how important our hands are to us, and how easily — in scores of different ways — they can be damaged. Hands are miraculous things, and one
If you remember 1987 at all, it is probably for the October hurricane and the stock market crash. Because they coincided, they are inextricably linked as though one caused the other. In fact, despite falling 23 per cent, the market was back on its feet before the debris of the storm had been cleared. Share
Here’s a provocative thought for Christmas. Instead of buying your nearest and dearest one of those charity goat-for-Africa cards, it would make far more economic sense to buy them a few shares in a multinational corporation which is going to help boost the African economy. It may be deeply unfashionable to say so, but the
Christmas is almost upon us and you still haven’t sorted out that significant present for the woman in your life who has everything. And there’s the rub. She already has the jewels, the houses, the horses, the cars, the shoes and furs and more cashmere dressing gowns than she could possibly ever want. Knowing the
Philip Richards is an extreme investor. His willingness to bet against the crowd has turned his initial £150,000 investment in his hedge fund company RAB Capital into £150 million since 1999. In particular, his Special Situations Fund, which he manages personally with the credo ‘to maximise returns with minimal restrictions’, has performed spectacularly. Since he
Think of this as a two-for-one Christmas special, a City Life column gift-wrapped inside Any Other Business. The city is Istanbul, where I am on a mission — in the steps of Pope Benedict, as it were — to salute loyal expatriate Spectator readers. And what a life this city offers. ‘Very cosmopolitic!’ exclaimed Mustafa
Just as the English have inspired supreme artistry in male dress, symbolised by Savile Row and Beau Brummell, so they have also contributed a dissenting movement of genteel shabbiness or grand nonconformity. It is not dictated by lack of cash but by sup-erior indifference, meanness and what I call the Robinson Crusoe syndrome, a delight
It’s simple, this internet grocery shopping. Log on, pick what you want, pay with your credit card and get on with your life while you wait for the doorbell to ring. No need to schlep to the supermarket, fight your way to the checkout, lug all those overloaded plastic bags into the car and out
If you built a composite portrait of Leigh Clifford from the handful of newspaper profiles ever written about him, you would be presented with an archetypal Aussie miner, as tough as the rocks his company digs from the earth. Shortly before taking up, six years ago, the post of chief executive of Rio Tinto —
Given that the government’s lust for setting targets has done so much to increase bureaucracy in public services Given that the government’s lust for setting targets has done so much to increase bureaucracy in public services, one could be forgiven for a little scepticism regarding the Prime Minister’s latest target: to reduce red tape by
Jonathan Davis says investors’ disregard for risk has paid off handsomely in 2006 — but it may not in 2007 A good general rule for investors is to take no notice of consensus predictions about what is going to happen in the next 12 months. The track record of year-end investment punditry is consistently poor.