-
About KU’s Trollope Prize.
1. Last Kind Words, an anthology of poems after Geeshie Wiley’s song, edited by Peter Riley
2. ‘Ghost’ and eight more poems, by Veroniki Dalakoura, translated by John Taylor
3. The Metaphoric Graveyard, a short essay by Alan Wall
…and much more, below in this column.
Audio archive: Hayden Carruth reads Contra Mortem and Journey to a Known Place | James Laughlin reads Easter in Pittsburgh and five more | Peter Robinson reads Manifestos for a lost cause and Dreamt Affections| Daragh Breen’s Aural Triptych
More below. Scroll down.
4. New to The Fortnightly Review? Our online series is more than ten years old! YOU MAY NEVER CATCH UP, BUT YOU CAN START HERE: Peter Riley: Poetry Notes: Winter reading |Alan Morrison: June Haunting | Kallic Distance, explained by Michial Farmer | Thesis: Stravinsky. Part four of Tronn Overend’s comments on Adorno and music | Two uncollected personal poems by Roy Fisher, with comments by Peter Robinson | Anthony Rudolf reviews The Hölderliniae by Nathaniel Tarn (with an excerpt) | The reascent of Spengler’s Decline by James Gallant | Three new poems by Simon Smith | Tom Lowenstein’s poem To the Muses | Michael Hampton reviews Turner’s Loom | Le meutre: the death of Camus, reviewed by Michelene Wandor | Peter Larkin: Extract from Trees the Seed |Anthony Howell on Julian Stannard’s Freeing Up | Wanton and two more poems, by Michael Egan | Alan Wall on Melancholy’s black sun | Paul Cohen parses Words and Lies | Bruce Kinzer on Leslie Stephen and the Metaphysicals | Richard Johnson: The Present Dystopian Paranoia | Nights In and two more new poems by Anthony Howell Dreamt Affections, a sequence by Peter Robinson | Freedom and justice at the Warburg by Peter McCarey | A Brexit Fudge by Alan Macfarlane | The poem’s not in the word by C. F. Keary | Peter Riley’s Poetry Notes: An Anthology for the Apocalypse | Diderot: The Curious Materialist, by Caroline Warman | Cambridge and two more poems by Ralph Hawkins | Gerard Manley Hopkins: No Worst There Is None, by Alan Wall | Hoyt Rogers: Seeing with Words: Yves Bonnefoy and the Seicento | Dragon Rock, and two more short fictions, by Umiyuri Katsuyama, translated by Toshiya Kamei | Adorno and the Philosophy of Modern Music: Part three of the essay by Tronn Overend | Michael Buckingham Gray: Back to the drawing board, an extremely short story | Customer. Relationship. Management. A downloadable polemic by Sascha Akhtar | Strictly Scrum: Michelene Wandor on the life and work of James Haskell, flanker | Michial Farmer On Elegance | Telling it for ourselves: Simon Collings on the latest cinema news from Africa | Stephen Wade on the Good Soldier and his creator: The Good Writer Hašek | Six prose poems by Scott Thurston | The Seicento and the Cult of Images by Yves Bonnefoy, and ‘Seeing with Words: Yves Bonnefoy and the Seicento,’ by Hoyt Rogers | Jonathan Gorvett, In Djibouti with The Angel of Hulme | An Aural Triptych by Daragh Breen | Immanuel Kant and the origin of the dialectic, the second part of Tronn Overend’s essay on Adorno and music | Three bilinguacultural poems by Changming Yuan | The Optician, short fiction by Cecilia Eudave | (a bean) — fiction by Marzia D’Amico | Stories from The Jazz Age by Aidan Semmens | ‘The London Cage’ and three more poems, by Judith Willson | Manifestos for a lost cause: A sequence of poems by Peter Robinson | Seven new poems by Barry Schwabsky | The poetry of social commitment: Poetry Notes by Peter Riley | The poet as essayist, by Alan Wall | On Gathering and Togethering in Medellin by Richard Berengarten | Two songs by Tristram Fane Saunders | What Heroism Feels Like: Fiction by Benjamin Wolfe | Two poems: ‘Inbound’ and one untitled about Ziggy by Nigel Wheale | Iconoclasm and portraiture in recent fiction by Paul Cohen | The Weimar Republic and critical theory: Adorno on modern music. First in a series by Tronn Overend | From the archive: Art, constantly aspiring: The School of Giorgione by Walter Pater | Seven very, very short fictions by Tom Jenks | The Seicento and the Cult of Images by Yves Bonnefoy | Three poems after reading Heine by Tom Lowenstein | Six new poems by Johanna Higgins | Macanese Concrete by Peter McCarey | ‘Leave-taking’, the end of a left-bank affair. By Ian Seed | Peter Riley probes Laura Riding’s many modes and offers his 2020 list of summer reviews |Bibliographic Archæology in Cairo by Raphael Rubinstein | Steve Xerri: Ezra Pound’s life in verse — with two more new poems, one featuring Keats | New Poems by Carrie Etter and Anna Forbes | ‘So, Dreams’ and three more poems, by Luke Emmett | Simon Collings wanders Buñuel’s labyrinth of artifice | Matt Hanson on the Romaniotes in America | For Once, a short fiction by Susana Martín Gijón | Four prose poems by Jane Monson | Jesse Glass and the poetry of ‘ouch’, explained: Pain… | Three poems, one very prose-like, by Claire Crowther | Two new poems by Sandra Kolankiewicz | Michelene Wandor reviews a metro-anthology from London’s twin cities | Simon Collings interviews Jeremy Noel-Tod, anthologist of prose poetry | Alan Wall: How we see now. A Note on Inscape, Descriptionism and Logical Form | Simon Perril: Poems from ‘the Slip’ | Michael Blackburn reviews Byatt’s Odd Angel | Christopher Landrum looks through Chris Arnade’s candid camera at America | Nigel Wheale reviews Ian Crockatt’s translations of the Skaldic verse of Orkney | Osip Mandelstam’s Tristia, in a new translation by Peter McCarey | Anna de Noailles: Thirteen poems in versions by Anthony Howell | Meandering through the Belle-Époque with Anthony Howell | Peter Riley‘s Poetry Notes for Summer 2020 | Three collections of prose poetry: 1.Nine haibun by Sheila E. Murphy | 2.Hurt Detail and two more prose poems by Lydia Unsworth | 3.Ten prose poems, five about men. By Mark Russell | The Latest Event in the History of the Novel by Paul Cohen | Life after life: Viduities, an essay by Alan Wall | As Grass Will Amend (Intend) Its Surfaces, by landscape poet Peter Larkin | More delicate, if minor, interconnections. Poetry by Tom Lowenstein | What Peter Knobler discovered out Walking While White in New York City | Alan Wall reviews Ian Sansom’s autopsy of Auden’s September 1, 1939 | A few very short fictions by Georgia Wetherall | A Play — for 26 Voices by Alice Notley | Four new poems from Credo, Stephen Wiest‘s new collection | Nigel Wheale on the significance and frailty of Raymond Crump | Ottomania! Matt Hanson reports on three new Turkish titles | Cinema: Simon Collings looks into Andrew Kötting’s Whalebone Box | Gowersby. A new puzzle-fiction by Shukburgh Ashby | The Jinn of Failaka: Reportage byMartin Rosenstock | Five Hung Particles by Iain Britton | Three poems from ‘Sovetica’ by Caroline Clark | It’s about time—Boustrophedon time: Anthony Howell is Against Pound | When words fail: Alan Wall diagnoses Shakespeare’s Dysnarrativia | Olive Custance, Lord Alfred Douglas’s much, much better half. By Ferdi McDermott | Three gardens and a dead man by Khaled Hakim | Poems from The Messenger House by Janet Sutherland | Two new poems by British-Canadian poet Pete Smith | Mob Think: Michael Blackburn reviews Kevin D. Williamson’s Smallest Minority: Independent Thinking in the Age of Mobs | Natalia Ginzburg’s On Women. The first translation in English, by Nicoletta Asciuto | Alan Wall: Considering I, alone, An interrogation of the isolated first person | Anthony Howell reviews Christopher Reid’s ‘Love, Loss and Chianti’ | Jeremy Hilton: An excerpt from Fulmar’s Wing | Peter Riley: Hakim and Byrne and a spring storm of ‘Poetry Notes’ | Simon Collings with news of African films, including a review of Mati Diop’s Atlantics |Alan Price reviews Anthony Howell’s mind-body reflections | Franca Mancinelli: Pages from the Croatian Notebook, in a translation by John Taylor |Anne Stevenson: A tribute to Eugene Dubnov | David Hay: Two poems, one in prose | Four poems from ‘Lectio Volant’ by Steve Ely | Seven very short stories by Ian Seed | Advice from all over: Peter Riley on How to Write Poetry | Geoffrey Hill and the Perturbation of Baruch by Anthony O’Hear | Bird of four tongues by Manash Firaq Bhattacharjee | Deirdre Mikolajcik: Abstract Wealth and Community in The Way We Live Now (Trollope Prize) | Nyssa Ruth Fahy on A Less-Beaten Path: Trollope’s West Indian fiction (Trollope Prize) | Blame it on the rain: flash fiction on two wheels, by Michael Buckingham Gray | True love—at 103: Breakfast with Mrs Greystone by S.D. Brown | The last Mantegna: fiction by Michelene Wandor | My first thirty years: A serial by Alan Macfarlane | Quotidian verse: She went to the hospital for an infection. By T. Smith-Daly | Tradition, by Enzo Kohara Franca. ‘My mother’s parents didn’t make it easy for her. In 1938 they immigrated from Sendai, where all men are Japanese, to São Paulo, where all men are Brazilian.’ | Peter Riley: Autumn reviews of new poetry | George Maciunas and Fluxus, reviewed by Simon Collings | The Political Agent in Kuwait, by Piers Michael Smith | Mother child: fiction by Conor Robin Madigan | The marital subtext of The State of the Union, reviewed by Michelene Wandor | Swincum-le-Beau, a puzzle-fiction in the spirit of Pevsner. By Shukburgh Ashby | Gibraltar Point and three more poems by Iain Twiddy | Six quite brief fictions by Simon Collings | James Gallant: Puttering with E.M. Cioran | Blind man’s fog and other poems by Patrick Williamson | None of us: a poem by Luke Emmett | Rankine’s uncomfortable citizenship by Michelene Wandor | Languages: A Ghazal by Manash Firaq Bhattacharjee | Seven more poems by Tom Lowenstein | Five poems from ‘Mattered by Tangents’ by Tim Allen | Anthony Howell: Freewheeling through some post-summer reading | ‘Noise’ and three more new poems by Maria de Araújo | A shelf of new poetry books for summer reviewed by Peter Riley in ‘Poetry Notes’ | Film: Simon Collings on Peter Strickland’s In Fabric | Michelene Wandor reviews Helen Dunmore’s Counting Backwards | Mauritius in three voices, by Emma Park | The hidden virtues of T-units and n-grams, by Davina Allison | Peter McCarey reviews W.D. Jackson’s latest Opus | Seven new poems by poet-ethnographer Tom Lowenstein | Anthony Howell: Empyrean Suite, an afterlife collaboration with Fawzi Karim | Christine Gallant reviews Herb Childress’s book on the life of the Adjunct Prof | The talk of The Dolphin, King’s Cross, as reported by Michael Mahony | Franca Mancinelli: Eight poems from Mala Kruna, in translations by John Taylor | A short question: Who will read short stories? David McVey answers | Eavesdropping on Olmecs: New poems by Jesse Glass | Two new poems by Laura Potts | Simon Collings on existence and its discontents in Capernaum | Peter Riley: Reviews yet more new prose-poetry | Anthony Rudolf remembers Turkish poet, novelist and essayist Moris Farhi | James Gallant sheds new light on the Duchess of Richmond’s ball in Brussels | Theatre: Third Person Theatre Co., and ‘The Noises’ reviewed by Anthony Howell | A fourth gulp of prose poems from ‘The Dice Cup’ by Max Jacob in a new translation by Ian Seed | Lots more short fiction: A new item by Michael Buckingham Gray and a full half-dozen by Simon Collings | Apollo 17 and the Cartoon Moon: Lunar poetry by James Bullion | Juvenal may be missing his moment: Satire for the millennium by Anthony Howell | Pickle-fingered truffle-snouter: fiction by Robert Fern | April Is the Cruellest Month: London fiction by Georgie Carroll | The Beginning and the End of Art…in Tasmania. By Tronn Overend | Kathy Stevens’s plate of fresh fiction: Everything in This Room is Edible | Boy, a new poem tall and lean by Tim Dooley | Beckett, Joyce, words, pictures — all reviewed by Peter O’Brien | Even more new translations by Ian Seed from Max Jacob’s Dice Cup | Poetry written in Britain’s ‘long moment’: A dialogue and portfolio of work by Peter Robinson and Tim Dooley | ‘Remembering Ovid’, a new poem by Alan Wall | Four new poems by Luke Emmett | Hugo Gibson on Discount entrepreneurship and the start-up accelerator | ‘Half a Black Moon’ and three more new poems by Seth Canner | Martin Stannard’s life-lessons: What I did and how I did it | Anthony Howell on three indelible images left after a season of exhibitions | You good? Anthony O’Hear reviews Christian Miller’s The Character Gap. | Peter Riley on Olson, Prynne, Paterson and ‘extremist’ poetry of the last century. | Three prose poems by Linda Black,with a concluding note on the form | Simon Collings watches Shoplifters, critically | Tim McGrath: In Keen and Quivering Ratio — Isaac Newton and Emily Dickinson together at last | Daragh Breen: A Boat-Shape of Birds: A sequence of poems | Peter Riley reviews First-Person ‘Identity’ Poems: New collections by Zaffar Kunial and Ishion Hutchinson | Marko Jobst’s A Ficto-Historical Theory of the London Underground reviewed by Michael Hampton | José-Flores Tappy: A Poetic Sequence from ‘Trás-os-Montes’ | Nick O’Hear: Brexit and the backstop and The tragedy of Brexit | Ian Seed: back in the building with Elvis | Nigel Wheale’s remembrance of ‘11.11.11.18’| Franca Mancinelli: Maria, towards Cartoceto, a memoir | Tamler Sommers’s Gospel of Honour, a review by Christopher Landrum | Typesetters delight: Simon Collings reviews Jane Monson’s British Prose Poetry | In Memoriam: Nigel Foxell by Anthony Rudolf | David Hackbridge Johnson rambles through Tooting | Auld acquaintances: Peter Riley on Barry MacSweeney and John James | ‘Listening to Country Music’ and more new poems by Kelvin Corcoran | Latest translations by Ian Seed from Max Jacob’s The Dice Cup | Claire Crowther: four poems from her forthcoming ‘Solar Cruise’| Anthony Howell on the lofty guardians of the new palace | War and the memory of war, a reflection by Jerry Palmer | The ‘true surrealist attentiveness’ of Ian Seed’s prose poems, reviewed by Jeremy Over | Antony Rowland: Three place-poems, a response to Elizabeth Gaskell’s Life of Brontë | New fiction by Gabi Reigh | Simon Collings reviews ‘Faces Places’ by Agnès Varda and JR | Ian Seed’s life-long love of short prose-poems | Michael Buckingham Gray’s extremely short story: ‘A woman’s best friend.’ | Simon Collings’s new fiction: Four short prose pieces | Anthony Costello: ‘Coleridge’s Eyes’ were his shaping spirits | Anthony Rudolf remembers poet and broadcaster Keith Bosley | Michael Hampton on Jeremy David Stock’s ‘Posthuman and categorically nebulous art writing’ | Peter O’Brien meets Paulette, Martin Sorrell’s ‘extravagent mystery’ of a mother | Anthony Howell reviews Lady Mary Wroth’s Love’s Victory | :: For much more, please consult our partial archive, below on this page.
Contact The Fortnightly.
Books received: Updated list.
-
LONDON
Readings in The Room: 33 Holcombe Road, Tottenham Hale, London N17 9AS – £5 entry plus donation for refreshments. All enquiries: 0208 801 8577
Poetry London: Current listings here.
Shearsman readings: 7:30pm at Swedenborg Hall, 20/21 Bloomsbury Way, London WC1. Further details here.NEW YORK
Time Out’s New York listings here.
2011: Golden-beak in eight parts. By George Basset (H. R. Haxton).
2012: The Invention of the Modern World in 18 parts. By Alan Macfarlane.
2013: Helen in three long parts. By Oswald Valentine Sickert.
2016: The Survival Manual by Alan Macfarlane. In eight parts.
2018: After the Snowbird, Comes the Whale, by Tom Lowenstein. Now running.
In the New Series
- The Current Principal Articles.
- A note on the Fortnightly’s ‘periodicity’.
- Cookie Policy
- Copyright, print archive & contact information.
- Editorial statement and submission guidelines.
- For subscribers: Odd Volumes from The Fortnightly Review.
- Mrs Courtney’s history of The Fortnightly Review.
- Newsletter
- Submission guidelines.
- Support for the World Oral Literature Project.
- The Fortnightly Review’s email list.
- The Function of Criticism at the Present Time.
- The Initial Prospectus of The Fortnightly Review.
- The Trollope Prize.
- The Editors and Contributors.
- An Explanation of the New Series.
- Subscriptions & Commerce.
-
By Roger Berkowitz, Juliet du Boulay, Denis Boyles, Stan Carey, H.R. Haxton, Allen M. Hornblum, Alan Macfarlane, Anthony O’Hear, Andrew Sinclair, Harry Stein, Eugène-Melchior de Vogüé, and many others. Free access.
· James Thomson [B.V.]
Occ. Notes…
A dilemma for educators:
Philosophy and the public impact.
.
Michelene Wandor on Derek Walcott and the T.S. Eliot Prize.
.Nick Lowe: the true-blue Basher shows up for a friend.
-
Anthony Howell: The new libertine in exile.
.
Kate Hoyland: Inventing Asia, with Joseph Conrad and a Bible for tourists.
.
Who is Bruce Springsteen? by Peter Knobler.
.
Martin Sorrell on John Ashbery’s illumination of Arthur Rimbaud.
.
The beauty of Quantitative Easing.
.
Prohibition’s ‘original Progressives’.
.
European populism? Departments
Subscribe
0 Comments
A short history of an always-growing national debt.
A Fortnightly Review of
The National Debt: A Short History
by Martin Slater
C Hurst & Co Publishers Ltd | 256 pages cloth | £20.00
By NICK O’HEAR.
Our debt was in dollars and our negative balance of payments made maintaining the value of the pound difficult and ultimately impossible. This led to large devaluations — in 1949 from $4.03 to $2.80 and in 1967 to $2.40. Our debt, of course, was in dollars, so devaluing the pound nearly doubled a crippling debt. This didn’t deter Prime Minister Harold Wilson from saying, “It does not mean that the pound in your pocket, your purse or in the bank, has been devalued.”
War is also the main driver for the national debt. The government issued bonds of one sort or another to raise enough money to prosecute whatever war was in vogue at the time. There was always a hope that, by being victorious, the spoils of war would pay for the war itself or “reparation” payments could be imposed on the loser. This is what happened to Germany in 1918. The Allies owed the British and the British owed the Americans. It would all work out if the Germans could be made to pay for the cost of the war and reparation. In one calculation, the German debt was assessed as being £24,000 million and that Germany should pay annually £1,200 million every year for 20 years. Bearing in mind that the British GDP in 1914 was £2,400 million, Germany had no hope of paying such a large amount to anyone. As a result, the Allies couldn’t pay the British — and the Americans refused to waive the British debt.
Similarly, the Second World War further increased Britain’s debt to the Americans. Generally, though the national debt was money owed by the state to the people and institutions in the country. In trying to manage the debt, the government devised various schemes such a the ‘sinking fund’. This was first proposed in the eighteenth century. It worked similarly to an endowment policy for a mortgage, where interest payments were separated from capital repayments. In short, the idea could work if the Government could lend money at higher interest rates than those incurred by the national debt. It was presented as a miracle cure – a financial sleight of hand. Any scheme of this type involves banks and brokers and gives them opportunities to to profit from the debt.
The current debt is about 80 per cent of GDP. This, in itself, is not particularly exceptional. At the end of the Second World War, it reached almost 2½ times GDP. However, it is of some concern is that it is increasing without very good reason. After all we have had more than 70 years of peace.
The reader is introduced to unfamiliar concepts such as Consols and Tontines. Quantitative Easing is also discussed (without much enthusiasm) and how it contributes to increasing house prices. There is a lot to come to grips with but Prof Slater presents the material in a clear and understandable way.
The main current issue is not that the national debt is too large, but that it is growing in a time of peace and prosperity.
The main current issue is not that the national debt is too large, but that it is growing in a time of peace and prosperity. The argument revolves around the need for austerity and a more Keynesian view that we should invest for growth. Martin Slater points out that even Keynes believed in restraint. Government investment is targeted at infrastructure projects but this increases borrowing and may not be as helpful to the economy and growth as investment in industry. This leads us to Private Finance Initiatives. This enables the government to saddle the country with added debt without it appearing in the national debt. On its own, this might not be too bad. After all, everybody wants new hospitals and high speed rail links to get to them. The catch is that the government has to offer high returns as well as extremely attractive terms and guarantees. The cost of everything financed in this way cleverly combines the worst points of capitalism and socialism.
Judging by the reviews of this book, economists praise it. But while Martin Slater does not avoid numbers he presents them in a very readable way. As a result, the book should interest a wide section of the general public. It is well worth reading.
♦
Nick O’Hear is chairman of Tension Technology International, Ltd., based in Schoonhoven, The Netherlands.
Note: This review was altered immediately after publication to correct an editing error.
Related
Publication: Sunday, 8 July 2018, at 13:32.
Options: Archive for Nick O'Hear. Bookmark the permalink. Follow comments here with the RSS feed. Post a comment or leave a trackback.