Tim Congdon

Bank-bashing with a vengeance

Over the decades of (relative) macroeconomic stab- ility in the second half of the 20th century, profit-seeking com- mercial banks and state-owned central banks worked together to lower the cash-to-asset ratios in the banking industry.

issue 06 February 2010

  • Freefall

    Joseph Stiglitz

    Allen Lane, pp. 361

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Kenton Allen

Long live the long lunch!

From the magazine
I keep on my bedside table, where others might place religious texts, Keith Waterhouse’s seminal The Theory and Practice of Lunch. Waterhouse, that magnificent chronicler of Fleet Street’s liquid lunches and disappearing afternoons, understood what modern efficiency cultists cannot: that civilisation is measured not by what we produce but by how elegantly we pause. His

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