Francis Kett

Sins of the Father

Sins of the Father

How a split in the IRGC could break up Iran

How sick is Iran’s supreme leader?

That has been the question on the tongues of many a foreign policy analyst as protests rage from Tehran to Baluchistan.

Sayyid Ali Hosseini Khamenei, 83, had surgery some weeks ago for bowel obstruction after suffering extreme stomach pains and high fever, reported the New York Times in September.

“His doctors remain concerned that he is too weak to even sit up in bed,” they reported

A former president of Iran and protégé of Ayatollah Ruhollah Khomeini, founder of the Islamic republic, Khamenei assumed the position of the country’s top religious, political and military authority in 1989. But what happens when Khamenei dies? And who will succeed him?

The Assembly of Experts for the Leadership is an 88-member body of Islamic jurists, elected by direct popular vote every eight years. According to the Iranian Constitution, the Assembly’s mandate is to appoint, monitor, and even dismiss the supreme leader.

The New Ottomans

The New Ottomans

How a resurgent Turkey is seizing power from Russia and Europe

Sunsets over Kurdistan get caught in the air pollution. Their rays fracture against fine particulate matter, dampening them so that the light dims into a sleepy haze. Like many other things in the mountains of northern Iraq, it becomes part of the background.

It’s worse south of Erbil, where the oil refineries belch out black smoke into the horizon. Spiteful black clouds rise up from the flares in a dust storm of smoke, hovering over the Neo-Sumerian minarets as though plotting their descent. But like the many forces which have surrounded the city, from the Assyrians to the Romans to the Americans to ISIS, they come and they go.

Fantastical Realism

Fantastical Realism

How Magical Realism Derailed Fantasy

Among fantasy genre aficionados, a joke persists that magical realism is what they call fantasy when it’s written by a South American author.

It usually evokes a laugh when at a fantasy convention, but there are many in the literary world who would raise eyebrows at the joke. Fantasy is escapism, they might say, while magical realism still forces its reader to remain in the real world.

Part of this distinction, the argument goes, is that magical realism stops short of world building, instead preferring to dish out abstract and unusual magical elements into its narrative rather than present an entire new world to its readers.

The Best Books of 2021

The Best Books of 2021

It’s been a good year for books. Many an author was hard at work during last year’s lockdowns, and while we didn’t manage to read every single one which came out this year, the most thought-provoking novels quickly floated to the top of the list.

After a thrilling year, we are pleased to bring to your attention ten thrilling reads which we thought best encapsulated the literary achievements of 2021. That said, I heartily commend to you the best books we read over the last twelve months:

Multipayer

Multipayer

How virtual economies created the digital wild west

In June 2020, months before the US-backed opposition to the dictatorship collapsed, a group of Venezuelans had found a better way of earning money than turning up for work: playing video games online.

Players were mulling around an area known as the Revenant Caves, an area ripe for “gold farming”, a spot in the game where characters could be levelled up quickly and then traded for US dollars online.

The process involved waiting for in-game enemies to appear before killing them as a means of rapidly building a high-profile account. Do this for long enough, and the next step is to sell the account to someone with a disposable income willing to pay up in order to skip the time investment required to build a high-level character.

The Green Shadow

The Green Shadow

How sustainable finance is becoming the next sub prime

“If you want to see where you are taking the most risk, look where you are making the most money.” ― Paul Gibbons, business adviser.

Much in the way that people in the inter-war period referred to World War I as “the war” or “the great war,” most financiers in the years between the global financial crisis and Covid-19 called the former simply “the crisis”.

Now, we have to be more specific.

The Best Books of 2020

The Best Books of 2020

Below is a list of what Rough Estimate considers to be the best books of 2020, in order and with honorable mentions.

While some of these books came out in the months before the global spread of coronavirus, the year will undoubtedly be defined by the pandemic. We selected these books both for their implications for a post-Covid world as well as for their aesthetic appeal as interesting and evocative texts.

The list is not exhaustive, and with more time to read we both found the shortlist much more difficult than in 2019. Likewise, comparing a narratively complex novel with an interesting non-fiction book is akin to reviewing apples and oranges in the same listicle, and so a great deal of personal taste is inevitable in these lists. With that in mind, here are the best books of 2020:

The Evolution of Myth

The Evolution of Myth

What a comparison of creation stories tells us about the human species

When the Greek traveller Aristeas visited the Gobi desert in 675 BC, Scythian nomads told him about an area where griffins hoarded gold, fighting all who dared approach. They were said to be lion-sized, curved beaks like that of an eagle.

The nomads warned the traveller against his trespass on the guarded land. Aristeas headed their warnings, and as good fortune would have it, was able to make his way through the desert free of griffin encounters.

He survived to return and tell his tale to the Greeks, where griffins were recorded and became one of many inclusions in the mythos of the land.

In the 1920s, American adventurer Roy Chapman Andrews followed caravan trails across China to the Gobi desert, tracking down the same trail Aristeas had walked 2,597 years ago before.

Crossing Mongolia, the adventurer found the fossilised remains of a Psittacosaurus, a beaked dinosaur the size of a lion, the same shape as those described by the nomads.

After thousands of years, the griffin had finally been uncovered.

The Last of the Aesthetes

The Last of the Aesthetes

How postmodernism took over the literary world

Walking through the empty streets of Prague in 1979, a lone English philosophy professor approached the top of a staircase in a seemingly deserted apartment building. Two policemen were waiting at the top, seizing the stiff, bespectacled man and shouting for his papers, before throwing him down the stairs.

The professor would wipe himself down once the police had departed, continued up the staircase towards a room full of silent people. They were students and professors also: and the professor was there to teach a course on Wagnerian philosophy.

That professor was Roger Scruton, and he would later be arrested for his lectures in the school, banned from the country until the Velvet Revolution and the fall of communism in Czechoslovakia in 1989.

“There was a real consciousness that it was a life and death struggle,” said Scruton, talking of the school he helped run in secret. “Either these societies were going to be killed off by communism, or people were going to try and keep them alive in the catacombs.”

Odyssey to the East

Odyssey to the East

The shift of power in post-coronavirus Europe

The Polish have a saying, “nie mój cyrk, nie moje malpy”, which translates to: “Not my circus, not my monkeys”.

The country has made huge and largely unnoticed economic strides since communism retreated from its borders, with the Palace of Culture and Science looming over Warsaw as a testament to Stalin’s lost grip on the region, his name struck off the placard before the building was completed.

Now, with Western Europe divided over the issue of eurobonds to help save its southern half from coronavirus, a near hundred-year old political concept is bieng dusted off to transfer power to the east: The Intermarium.

How to avoid getting sued for your writing

How to avoid getting sued for your writing

A guide to understanding libel law

In journalism, people will often threaten you, lie to you or claim what you are writing is inaccurate. Even on Facebook and Twitter, you can be sued for libel - and US companies will often bring the case against you in the UK in order to have a better chance of winning against you.

Here’s a guide on how to avoid that, whether you’re simply a humble commenter or running a full-blown news site.

The Areopagus

The Areopagus

A free speech tale

“He who destroys a good book, kills reason itself.”

John Milton, Areopagitica

When Paul the Apostle first climbed the slopes of the Areopagus to give his sermon on the resurrection of Christ, he knew he would be breaking the law be preaching a foreign god on the hill of Athens.

Jesus had died on the cross some seventeen years ago, and Jewish residents had driven Paul out of Thessalonica and Berea, leaving him to travel Greece alone.

The Best Books of 2019

The Best Books of 2019

We wrote this list because we frankly felt that most of the “best books” list that we see online are pretty poor and tend to only represent a small range of fiction books that appeal to a limited demographic.

We wanted to cover the most interesting books this year that we read between the two of us, this means that there’s a slight bias towards authors that we were already familiar with but there are several books on this list from author’s we had never read before.

Escape from Limbo

Escape from Limbo

How the rest of the world can avoid following Japan into economic slumber


“A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.”

― Michael Lewis, The Big Short


Racism, the toxic social issue that dominated the social discourse of the ‘90s and early 2000s, is soon to be replaced by an even uglier phenomenon: Ageism - as each social group pulls towards its opposing financial incentives.

According to research by the Insured Retirement Institute (IRI), 45% of baby boomers in the US have no retirement savings at all. Only 55% of boomers have some retirement savings and, of those, 28% have less than $100,000. This means that half of American retirees are, or will be, living off Social Security benefits. The UK and Europe paint an even gloomier picture.

The Two Empires

The Two Empires

A comparison of EU economic policy with the late-Roman economy

Religious scholars traditionally agree on 33AD as the official date that the historical Jesus of Nazareth was crucified under the order of Roman prefect Pontius Pilate. What is less well known is that this was also the date of the first ever recorded economic crisis, which almost brought the entire Roman economy to its knees.

It all started when trading firm Seuthes & Son, an important Alexandria spice trader, lost three well-laden shipments in a hurricane half-way through crossing the Red Sea. Soon afterwards, another wealthy firm at Tyre, Malchus & Co., suddenly became bankrupt after its Phoenician workforce went on strike and the embezzlements of a freedman manager caught up with the company.

The Closed Economy

The Closed Economy

Why finance will never get easier to understand

One of the largest meta analyses ever conducted into language development, headed by Steven Pinker among other scientists at Boston University, shows that our innate ability to learn multiple languages does not end as early as we think. 

All of us, I am sure, know at least one person who grew up speaking more than one language. Scandinavians, for example, are often raised speaking at least two in the household - exposed to music and film - until they pick up the grammar and vocabulary effortlessly. 

While language proficiency stays with us well into our teens - up until 18 according to the study - the meta-analysis also underlines that learning a second language after the age of ten will not guarantee fluency.

Monitoring the Monitors

Monitoring the Monitors

A fake news tale

On the first of November 2018, Brexit Britain was still in talks with the European Union over negotiating the terms of the Irish backstop when The Times Newspaper reported that the UK and the EU had sealed a deal on financial services.

The EU’s top negotiator, Michel Barnier, picked up The Times and began ranting to his secretaries about the cluelessness of the British press.

The Business of Prophecy

The Business of Prophecy

The new divide in journalism is between the heard word and the written

A writer sentenced to jail once said that a good newspaper, he supposed, is a nation talking to itself. A good local paper, it follows, must be a city, town or village talking to itself. That conversation has now been interrupted. Over the last 15 years more than half the jobs in the news industry have disappeared, [1] with over 40 UK local papers closing down last year alone. [2] What’s left of institutional journalism is faced with many preoccupations: how to cover uncorroborated accusations, whether to add to the hysteria over child disappearances, how many times should Nigel Farage be allowed on Question Time? Etc.