“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.”
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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.
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.
If good history is dispassionate history, it must naturally wait until the passions of the period subside.
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.
