Quotes By James Buchan

In falling markets, there is nothing that has not happened before. The bear or pessimist sees only the past, which imprisons the wretched financial soul in eternal circles of boom and bust and boom again.

For 50 years, nuclear power stations have produced three products which only a lunatic could want: bomb-explosive plutonium, lethal radioactive waste and electricity so dear it has to be heavily subsidised. They leave to future generations the task, and most of the cost, of making safe sites that have been polluted half-way to eternity.

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

Viewed from a distance, or through the eye of the All-Knowing CEO of the Universe, the crash of 2008 followed the usual pattern. A long-lived boom driven by cheap credit, going back as far as 1982 (though subject to interruptions in the mid-1980s and 1990s, and in 2001), came to grief because of a rise in the cost of borrowing money.

Where consumption is both conspicuous and competitive, humanity will never run out of new wishes. All the while, industry creates new desires that are marketed, in the great fashion paradox, as both novelty and need.

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.

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.

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

The truth is, of course, that history is not completed in modern commerce any more than philosophy is perfected in political economy. In other words, there is nothing timeless or God-given about filling stations and penicillin and plastic bags.

Saudi Arabia is a puritanical state that claims a monopoly of wisdom and virtue.

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.

The world survived the fall of the Roman empire and will no doubt outlast our own so much more splendid civilisation.

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.

Is there any purpose to translating poetry? A poem does not contain information of importance, like a signpost or a warning notice.

When William the Conqueror commissioned a great survey of his English realm at Gloucester in 1085, the result was a work so thorough, fair, dispassionate, and wide-ranging that it seemed to the succeeding generations to have come from another world.

A century ago, petroleum - what we call oil - was just an obscure commodity; today it is almost as vital to human existence as water.

The year 2008 was a reminder to those who had forgotten that there is such a thing as history and that the cycle of famine and feast in commerce, first identified in antiquity and well understood in the Middle Ages, was not suddenly abolished in modern times.

The theory of permanent Muslim-Christian enmity, though it flourishes in the caves of Tora Bora and parts of the American academy, was long ago exploded by the historians.

Up until the Depression, recession had a moral character: it was supposed to purge the body economic of the greed and excess that attends a business expansion.

Suicidal violence is not the exclusive property of the Muslim world. Suicide bombings were a tactic of nationalist struggles in 19th-century Europe and Russia, the far east during the second world war and the Vietnam war, and in modern Sri Lanka.

We generally write best of what we ourselves have seen.

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.

Economists, like royal children, are not punished for their errors.

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.

The rise to prominence of the Saudi novel in Arabic is the great man-bites-dog of recent world literature. Saudi Arabia is a country without a free press, where European styles and forms are distrusted and where the female half of the population became literate only in this generation.

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.

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.

When Gordon the Brown, in London in 1997, commissioned a great inquisition or survey of his new realm, the result was the so-called national asset register, which was immediately dubbed by the boomers of the UK Treasury 'the modern Domesday Book.'

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.

Saudi Arabia operates according to the belief that God made young men and women so utterly and completely without self-control that they must be physically segregated every moment of the day and night.