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The prevailing ideology of the modern west - which is political economy - is in the doghouse. Having failed to notice atmospheric pollution, the economists then frightened themselves with the sort of financial crisis they said they had abolished.

James Buchan

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James Buchan
Age: 70
Born: 1954
Born: June 11
Journalist
Novelist
James Ernest Buchan
Hon. James Ernest Buchan
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More quotes by James Buchan

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Soaring prices for crude oil, falling production surpluses, wild speculation in commodities, a rush into the precious metals, turmoil in the Middle East, assertive oil producers: it is 1973-74 all over again, and at dictation speed.
James Buchan
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The aircraft that blew up the World Trade Center in New York and the Pentagon in Washington conveyed several messages to the world, of which one of the least remarked is this: the Muslims of the world are suffering.
James Buchan
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The world survived the fall of the Roman empire and will no doubt outlast our own so much more splendid civilisation.
James Buchan
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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 Europe was wrenched from its normal purposes and converted into a machine for killing.
James Buchan
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We generally write best of what we ourselves have seen.
James Buchan
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Saudi Arabia is a puritanical state that claims a monopoly of wisdom and virtue.
James Buchan
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Governments of rich countries spend some $6bn of tax money a year on disaster relief and development aid overseas, while each new earthquake, famine or tidal wave can attract 1,000 aid organisations, from the United Nations Children's Fund and Oxfam to the 'Jesus Brigades' of the American south and other charitable adventurers.
James Buchan
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If good history is dispassionate history, it must naturally wait until the passions of the period subside.
James Buchan
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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.
James Buchan
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A century ago, petroleum - what we call oil - was just an obscure commodity today it is almost as vital to human existence as water.
James Buchan
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There are about 15 million Muslims in the EU. They face ignorance, insult and even persecution. They cannot be wished away. To impose Enlightenment freedoms is self-defeating. Anyway, the Muslims have their own enlightenment.
James Buchan
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It is time to end the western policy of malign neglect. It is in the interest of the whole world to help tackle the actual grievances in Palestine, Kashmir, and in central and southern Iraq, and to help the region out of its economic backwardness.
James Buchan
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Life without oil, in fact, would be so different that it is frightening to contemplate. We are addicted, and it is no comfortable addiction.
James Buchan
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We read too much Shakespeare at school, and view our parliamentary politics as dynastic drama, in which an impatient crown prince frets at his long subordination and begins to scheme for the throne he knows he merits, was promised and has earned.
James Buchan
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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.
James Buchan
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The dividing line between wish and need was never clear.
James Buchan
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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.
James Buchan
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What holds an Arab leader in power is a mixture of violence and prestige. Both President Assad and King Hussein were felt to have defended Arab interests against the world. That, in the end, is more important than what they wear on their head.
James Buchan
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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.
James Buchan
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Financial crises are like fireworks: they illuminate the sky even as they go pop.
James Buchan