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On the eve of the fifth anniversary of 9/11, one of Britain's most celebrated and original writers analyses - and abhors - the rise of extreme Islamism. In a penetrating and wide-ranging essay he offers a trenchant critique of the grotesque creed and questions the West's faltering response to this eruption of evil.
The Orwell Prize is the pre-eminent British prize for political writing. There are two annual awards: a Book Prize and a Journalism Prize. They are awarded to the book, and for the journalism, which is judged to have best achieved George Orwell’s aim to ‘make political writing into an art’.
Since most of these things don't change while we're driving, the proportionality can be expressed more simply:
F = kv^2
In other words, fluid drag is equal to some constant multiplied by speed squared.
The cube comes into it if you multiply both sides by v again:
Fv = kv^3
Because Fv is force times speed, which is just another way to write power. (Fv = Fd/t = E/t = P where d is distance, t is time, E is energy, and P is power.) Therefore the power dissipated by fluid drag (and thus the power required to maintain speed) is proportional to the cube of the speed.
"the chapters introduce us to item A, which is linked to item B, which relates to C, whose story is incomplete without D, and so on and lo and behold, before you know it you're back at A, having had no idea where we were going."
"He describes three trends converging to create the bubble. By 2006 the growing trend towards deregulation had pushed three-quarters of all lending outside the purview of regulators. Securitisation created a serious agency problem, leaving loan originators, who were paid up-front, with no incentive to avoid bad credits and every reason to piggyback inappropriate products onto good ones (in one particularly depressing tale, a retired postal worker whose mortgage is almost paid off is switched to an interest-only product that leaves him in danger of losing his home). Banks and rating agencies were gripped by the pretence that all finance can be calculated by risk-modelling eggheads. It did not help that many investors blindly accepted the rating agencies as a kind of “financial Supreme Court”."
