James Buchan Quotes
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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.
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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.
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Any new financial order for the world must tackle the three chief challenges of our age.
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My belief, for what it is worth, is that city dwellers cannot understand the world. Insulated from reality by complex and expert systems of provision and police, baffled by fashion and spectacle, city dwellers can distinguish neither the sources of their existence nor the consequences.
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Osama bin Laden, the Saudi-born revolutionary who is believed by most Arab and Iranian observers to be the inspiration of the attacks in New York and Washington, is the best known of the Islamic militants to have emerged in the past 20 years and the least difficult to fathom.
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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.
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One of the admirable features of British novelists is that they have no scruple about setting their stories in foreign settings with wholly foreign personnel.
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Saudi Arabia is a puritanical state that claims a monopoly of wisdom and virtue.
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To make a love story, you need a couple of young people, but to reflect on the nature of love, you're better off with old ones. That is a fact of life and literature - and of the novel ever since it fell in love with love in the 18th century.
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The great disadvantage of getting older is to be obliged to relive the salient economic events of one's youth, with nothing learned and nothing forgotten.
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Unlike despotisms, modern democracies are not supposed promiscuously to accumulate property and then charge their taxpayers to maintain it. But that is what they do. Governments are always trying to extend their responsibilities and their estates, and it is very hard for parliaments to reign them in.
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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.
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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.
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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.
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Losing your capital is like losing your trousers. It is a real humiliation, and one not to be soon repeated.
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In rising financial markets, the world is forever new. The bull or optimist has no eyes for past or present, but only for the future, where streams of revenue play in his imagination.
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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.
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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.
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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.
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At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid.
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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.
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In modern society, where most people live in cities, and where both needs and wishes are absolved through the same remote agency - money - the distinction between wishes and needs has altogether vanished.
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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.
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For all their current prestige, Osama bin Laden and the suicide bombers are still regarded in all but the most desperate districts of Gaza or Peshawar as romantics with little chance of more than symbolic victories, however bloody and brutal. That gives both the Middle East and the West a small and distant hope of security.