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	COVER STORY Where do we go from here? Robert Skidelsky The markets have ruled for a third of a century, but it has all ended in tears. A return to selfish nationalism is possible. If we are to avoid this sombre outcome, we must find ways to rub the rough edges off globalisation

Opinions Sounds good Philip Collins Obama's inauguration speech is unlikely to disappoint. His words may be unremarkable; his delivery won't be All change Andrew Adonis Even America is investing in high-speed rail. It's time Britain did the same, says the transport minister Mumbai's bloodied elite James Crabtree The Mumbai attacks hit India's rich the hardest. They may now take democracy more seriously Getting our houses in order John Beddington Protesters occupy airports. But old fashioned loft insulation is more important than stopping flying Web exclusive Labour's golden myth Patrick Diamond Labour today reveres Attlee's 1945 government. But, as a new history by Giles Radice suggests, the party must now shed this uncritical fascination Victorian celebrity Jonty Olliff-Cooper Toby Young may be right that modern society is ruled by a celebrity elite. But so were the Victorians. Obamabot, meet nostradumbass Adam Rosenthal Was 2008 a vintage year for the English language? A dedicated leader of fashion Hettie Judah Currently celebrating its 20th birthday, Martin Margiela is the most radical, chic name in fashion. And if you've never heard of him—well, that's all part of the plan

Essays A progressive manifesto David Bodanis The ten commandments have come to be seen as the rantings of a vain, vengeful God. In fact, they are an early blueprint for self-government forged by refugees escaping tyranny The art of prize-fighting Tom Chatfield Literary prizes are an increasingly flawed and compromised institution. Yet they are still an important mechanism for ensuring literature's future as a public art All cannot have prizes Geoff Mulgan Charles Murray, the controversial conservative social scientist, has turned his fire on the belief that almost anyone can excel academically Making banks boring again John Kay In the modern financial services industry, banks have become casinos attached to utilities. The aim of any regulatory overhaul should be a rigorous separation of the two The classical bazaar Richard Jenkyns Seldom has writing about the classical world been so popular, and so good. And most of the writers are interested in it for its own sake The year in review An intellectual surge James Crabtree Who had the biggest intellectual impact on the world in 2008? What's the big idea? James Harkin Crowdsourcing, nudging and mass collaborating jostled eagerly. But was 2008 a vintage year for ideas books? It was a mixed bag—and perhaps not serious enough How should we rate 2008? Which political and cultural events have been most overrated and underrated this year? We asked 100 Prospect writers How should we rate 2008? (2) Part two of our feature How should we rate 2008? (3) Part three of our feature How should we rate 2008? (4) Part four of our feature

Interview A political Paul Jonathan Power The Beatle talks about schooldays, the 1960s, 9/11, FR Leavis and the responsibilities of wealth and celebrity with his old schoolmate Jonathan Power Paul McCartney: a preview Jonathan Power Prospect's interview between Paul McCartney and his old school-friend Jonathan Power has made headlines around the world. Read the first 1,000 words for free here Special report Science wakes up to sleep Philip Hunter Scientists have made strides to unravel one of life's great mysteries: why sleep matters Witness Oil and troubled waters Derek Brower Plagued by piracy, Islamic extremism and endless civil war, surely it can't get any worse for Somalia? It might if they find oil in the province of Puntland Reviews As good as Heaney Julian Gough Clive James's most enduring claim to greatness is not his novels, satire or journalism, but his exquisite essays and poems The courage to be afraid Tom Streithorst Dexter Filkins has produced an astonishing book about Iraq: an account that tells us everything we don't want to know Desert storms Shereen El Feki The prophet Muhammad's love life is a sensitive subject. But was the book Random House decided not to publish worth all the fuss? Tomorrow I shall be sober Sam Leith Kingsley Amis was one of the great drinkers of the 20th century—opinionated, blustering, offensive, and rarely less than hilarious Fiction The Ghost Toby Litt Since my father died, something has been wrong with my son. At least, I hope it’s something wrong with him

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