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'Financial services' share of GDP in America doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing in 2007 -2008. Bankers are being paid more, too. In America the compensation of workers in financial services was similar to average compensation until 1980. Now it's twice that average. Rich bankers really are all around you.'

The Economist, January 22nd, Inequality - Unbottled Gini


'Talk to Conservative modernisers, and they express acute frustration that tuition-fees debate has been presented in purely defensive terms. They believe that higher student fees will empower students. Armed with hefty upfront loans (repayable only once the recipients are earning reasonable wages), students will deliver their cash to courses that seem to offer value for money. These Torries predict that competition will force colleges to improve teaching and to offer innovations such as quicker, more intensive courses. They think that will make degrees more accessible, not less.'

The Economist, December 18th, Bagehot - Christmas with father whip