From the Literary Review
To maintain the illusion that they are part of some kind of radical underground, intellectuals must practise a deceit. They can never admit to their audience that fear of violent reprisals, ostracism or crippling financial penalties keeps them away from subjects that ought to concern them - and their fellow citizens.
[ ... ]In Britain's case, any writer who had tried to research a book on the rapacious and authoritarian managers at the Royal Bank of Scotland or HBOS, for instance, or on the insanely reckless derivative swap and insurance markets in the London-based subsidiaries of Wall Street banks, would have run into the libel law. It is some barrier to overcome. The cost of a libel action in England and Wales is 140 times the European average. Contrary to common law and natural justice, the burden of proof is on the defendant. Even the few remaining wealthy newspapers, which have business models that have not yet been destroyed by the Internet, find it hard to afford a court case. For the publisher of a serious book, which would do well if it sold 50,000 copies, the idea of risking £1 million or more in a legal fight to defend it is close to unthinkable.
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