Latest Issue

According to OUP’s Words of the Year, 2008 will be remembered above all for “crunch” and “credit,” although not necessarily in that order. The phrase was coined by the New York Times back in 1967, but only came into its own in these last headily disastrous few months: the BBC website deployed it almost 25,000 times in September. “Credit crunch” is a snappy alliteration, but it’s also perfectly suited to the tenor of these times, in which financial reportage tends to be viscerally, bone-crunchingly concrete. Witness the free mixing of medical and mechanical metaphors that has seen equity “pumped” and…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect