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The costly legacy of Margaret Thatcher’s monetarism

Post-war British economic history is littered with failed policy panaceas. Keynesian demand management would solve the unemployment problem; the Exchange Rate Mechanism would provide an anchor for stability and end sterling’s perennial weakness; the Barber and Kwarteng budgets – separated by 50 years – would throw off the shackles of Treasury orthodoxy and put the country on a path to higher growth. On the face of it, monetarism – the theory that if you control the money supply, you control inflation – fits squarely into this paradigm. As soon as government sought to control the money supply, the historic relationship between money and inflation broke down.

The English lieutenant’s Frenchwoman: the tragic story of Adèle Hugo

In 1882, a sneaky reporter from the Figaro managed to track down Victor Hugo’s only surviving, long-forgotten child to an expensive mental asylum on the edge of Paris. He stalked her as she was being taken for a walk in the local park. She had the ‘profile of a duchess’, ‘staring black eyes’, a perilous hopping gait and odd compulsions. According to the reporter’s inside source, ‘Mme Pinson’ had spent a month removing all the rocks from the asylum’s long driveway and then replaced them one at a time. Thirty-three years later, she could still play the piano and claimed to be writing an opera titled Venus in Exile. She also enjoyed tearing up the pages of books and stuffing the confetti into her bag.

Bayes’s Theorem: the mathematical formula that ‘explains the world’

Here’s a profound question about beards: is the number of acrobats with beards the same as the number of bearded people who are acrobats? Go with your gut instinct. It’s not a trick question. If you answer ‘yes’, then you’ve understood the central idea behind Bayes’s theorem. If you’re one of those people who likes to titter about how bad you are at mathematics, stop it. Retake your GCSE, learn how to pin this obviousness down in symbols, and you can produce artificial intelligence, forecast stock market collapses and understand this: P(A|B) = (P(B|A)∙P(A))/(P(B)) This is Bayes’s equation, the formula which, as Tom Chivers insists in this remarkable, bold book, ‘explains the world’. Rich mathematics begins by spotting an oddity in the obvious.

Second life: Playboy, by Constance Debré, reviewed

Playboy is part one of a trilogy that draws on the life of its author, Constance Debré. Part two, Love Me Tender, was published in Britain last year. The trilogy was inspired by Debré’s experience of leaving her husband, abandoning her career as a lawyer, and then losing custody of her child when she re-emerged as a lesbian (and a writer). In Love Me Tender we met a womaniser who referred to girls by numbers rather than their names; in Playboy, via her first female lovers, we witness her transformation into a queer Casanova. The novel is bold and brash and at the same time quietly controlled. Take this line: ‘We’re all selfish, parents, kids, he, I, it’s no big deal, that’s life, it’ll all be fine.

Why must we be in constant battle with the ocean?

I recently learned to dive in the bay of Dakar. It was exciting. I’d started learning in a Leeds swimming pool and though I knew the ocean would feel different, I didn’t expect it to feel comfortable. It shouldn’t. It is not my element, and humans have long since left it to the rest of the ocean’s creatures. I also didn’t think the ocean would sound like my neck when I roll it during yoga: that same crackle. With their remarkable sonar, dolphins can even tell when a human is pregnant That the ocean is not quiet is one of the most pleasing revelations of the past century (I mean the ocean’s native noise, the fish songs and grunting and whistles – not ships’ propellers). But it is not the best revelation.

A Native American tragedy: Wandering Stars, by Tommy Orange, reviewed

‘You will ask the librarian what novels are written by Indian people and she will tell you that she doesn’t think there are any,’ reflects Victoria Bear Shield, a Native single mother in Tommy Orange’s polyphonic second novel. It is 1954, in America, and she is working out how to rear her baby daughter so that the child is not puzzled, as she herself was, by being ‘the brownest person in every room’. Seventy years later, one would hope that the librarian’s knowledge of indigenous writers would include at least Orange’s own work and that of Sherman Alexie and Louise Erdrich. Orange is a member of the Cheyenne and Arapaho tribes and his first novel, There There (2018), was one of Barack Obama’s books of the year and a Pulitzer Prize finalist.

The ordeal of sitting for my father Lucian Freud

The frontispiece of this book is Lucian Freud’s portrait of his daughter Rose naked on a bed. Rose says that when her father asked her to sit, which she had long hoped he would do, she naturally assumed he would want her naked, but asked him not to paint her hairy legs. He, in turn, asked her to remove her mascara, but she refused. When she saw the canvas she was shocked at how much it focused on her vulva, but she did not object. She sat for him at night – he had other sitters during the day – and he sometimes gave her purple hearts to keep awake. When the portrait was finished, she took on the task of cleaning Freud’s studio, which ‘made me feel special, downtrodden, and loved for all the wrong reasons’. Rose was born in 1958, 18 months after her brother, Ali.

Did the Duchess of Windsor fake the theft of her own jewels?

On 16 October 1946, the Duke of Windsor, the former Edward VIII, and his wife Wallis were visiting England for a short period. They were staying with their friends the Dudleys at Ednam Lodge in Surrey, and felt sufficiently comfortable not to store Wallis’s impressive collection of jewellery in the house’s safe room, but instead kept it – with almost breathtaking carelessness – under the bed. It is unsurprising, then, that an opportunistic thief was able to break into the house while the Duke and Duchess were dining in London, steal the jewels and make good his escape without detection. If this was all there was to the story, it would be diverting but inconsequential.

When Stalin was the lesser of two evils

‘We are resolved to destroy Hitler and every vestige of the Nazi regime... Any man or state who fights against Nazism will have our aid.’ These words were spoken by Winston Churchill in a BBC radio broadcast to the nation from Chequers on the evening of 22 June 1941. Churchill detested Stalin – but he needed him to destroy Hitler That morning, Operation Barbarossa had begun, with Hitler’s armed forces launching the biggest invasion in modern history into the heart of a country whose very existence Churchill detested: the Soviet Union. This cataclysmic invasion by the Nazi regime, however, created an ally the British leader had never envisioned. For the previous 22 months, Great Britain’s war with Nazi Germany had not gone well.

Haunted by the past: Winterberg’s Last Journey, by Jaroslav Rudis, reviewed

Jaroslav Rudis’s latest novel follows the 99-year-old Wenzel Winterberg, a Sudetenland German, and his middle-aged Czech carer, Jan Kraus, on what is a quirky European take on the buddy road-trip story. Marx claimed that ‘men make their own history’, but do so under the burden of the past, with the weight of dead generations upon them. The tragedy soon to become a farce begins, according to Winterberg, at the site of the Battle of Königgrätz, with the old man proclaiming: ‘The Battle of Königgrätz runs through my heart.’ He then rambles on about its ‘half a million ghosts’, their roles and where they lie now, before blaming the battle for the loss of his first wife, the madness of his second, and then the death of his third.

China’s role in Soviet policy-making

Why should we want to read yet another thumping great book about the collapse of the Soviet empire? Sergey Radchenko attempts an answer in his well-constructed new work. Based on recently opened Soviet archives and on extensive work in the Chinese archives, it places particular weight on China’s role in Soviet policy-making. The details are colourful. It is fun to know that Mao Tse-Tung sent Stalin a present of spices, and that the mouse on which the Russians tested it promptly died. But the new material forces no major revision of previous interpretations. Perhaps the book is best seen as a meditation on the limitations of political power.

A tragedy waiting to happen: Tiananmen Square, by Lai Wen, reviewed

Lai Wen’s captivating book about growing up in China and witnessing the horrific massacre in Tiananmen Square reads like a memoir. The protagonist’s name is Lai, and her description of her parents is utterly convincing – the pretty, bitter housewife mother, jealous of the opportunities her daughter has; the father permanently cowed after being briefly interned by the government decades earlier. In a letter at the end, the author explains that her story is faction – embellished fiction. So how much is true? We will never know. I find this slightly irksome. I so admire writers like Henry Marsh, Karl Ove Knausgaard and Rachel Cusk who are prepared to irritate with their honesty.

The lion and the unicorn were fighting for the crown

Elizabeth I died at Richmond Palace on 24 March 1603 at the age of 69 after a reign of 45 years. Her health had been poor from the early 1590s onwards: arthritis, gastric disorders, chronic insomnia and migraines were just some of the ailments which plagued her. Yet, uniquely among English monarchs, she refused to make provision for the succession. James I made great efforts to ensure that his escape from the Gunpowder Plot would not soon be forgotten From Tudor to Stuart is Susan Doran’s enthralling account of the behind-the-scenes manoeuvres of those who had a viable claim to succeed the Virgin Queen.

My summer of love with God’s gift

When the author and podcaster Viv Groskop first visited Ukraine, she travelled there from Moscow, on a long train that ran eventually beside a field of sunflowers. They were, she recalls in her lovely and modestly scaled memoir, like a ‘blast of sunshine screaming: “Welcome to Ukraine! You are no longer in Russia!”’ The year was 1994, and Groskop had been in the former USSR for a little under a year. A modern languages undergraduate at Cambridge, she had decided to take her year abroad in St Petersburg. Until she got there, she had barely thought of Ukraine. It was one of a bunch of newly independent states; it hadn’t come up on her course.

My brilliant friend and betrayer, Inigo Philbrick

‘Inigo has never asked me not to write this book, but I had come to wonder whether I would have had the courage to write it were he not imprisoned,’ confesses Orlando Whitfield in his coruscating memoir of his friendship with Inigo Philbrick. He was the art dealer whose meteoric career exploded in spectacular style when he was convicted, aged 35, of wire fraud in 2022. Imagine Whitfield’s alarm on hearing that Philbrick had been released from prison in time for publication. By ‘flipping’ art works, Philbrick increased his earnings from ‘£35k a year to £35k a month’ Philbrick, who owes $86,672,790 in restitution payments, will have ample opportunity – and cash incentives – to give his side.

Heroines of antiquity – from Minoan Crete to Boudica’s Britain

She must have been a powerful swimmer. Her name was Hydna and she grew up in the port town of Scione on the northern coast of the Aegean. It was 480 BC, and the Graeco-Persian Wars were raging. The Persian fleet was anchored off Thessaly in eastern Greece, waiting for a great storm to blow through. Hydna and her father were waiting too. When night fell they dived off the harbour wall and into the dark, cold sea. For hours, the two of them swam towards the Persian ships. No one saw them approaching. No one saw them cut, one by one, the anchor ropes. Untethered, the ships were at the mercy of the storm. They smashed into one another, wrecking hulls and rowing decks. By the time calm returned, some 300 lay on the sea floor.

Visitants from the past: The Ministry of Time, by Kaliane Bradley, reviewed

If you could resuscitate a hunk from history, who would you choose? The secretive Whitehall ministry in Kaliane Bradley’s striking debut is working on time travel, facilitating the removal of various Brits from their own era to (roughly) ours. The candidates were all due to die anyway, so the risk of altering history is minimal. Curiously, the boffins do not pick Lord Byron, but a naval officer on the doomed Franklin expedition to the Arctic, lost in the search for the Northwest Passage. Each time traveller is assigned a ‘bridge’ – someone to both monitor and help them adapt to 21st-century London. Lieutenant Graham Gore is paired with a young female civil servant of mixed white and Cambodian heritage.

The glamour of grime: revisionist westerns of the 1970s

In 1967, the unexpected worldwide success of Bonnie and Clyde blindsided the Hollywood film industry, which then spent the next half decade attempting to adapt to the changing tastes of the new youth audience it had apparently captured. No matter that the picture took a pair of vicious, sociopathic thrill-killers who in real life were about as appealing as the Manson family and reinvented them as glamorous Robin Hood figures, there was obviously money to be made, and the studios wanted a slice of it.