Irving Kristol dispensed his criticisms through several prestigious publications, including <i>Commentary</i> and <i>Encounter</i>.
Irving Kristol dispensed his criticisms through several prestigious publications, including <i>Commentary</i> and <i>Encounter</i>.

A liberal thinker 'mugged by reality'



Irving Kristol, who has died aged 89, was a prodigious, highly erudite political commentator who was commonly acknowledged to be the godfather of neo-conservatism. His oft-quoted description of its archetypal adherents was that they were liberals who had been "mugged by reality". He had come to that position himself by way of various political affiliations, including a period in support of the liberalism that swept America during the second half of the 20th century, during which, for a time, he served as editor of a number of magazines with liberal leanings. When he reacted against what he saw as the moral anarchy that liberalism allowed, or even positively encouraged, he was unequivocal in his criticism. Together with various like-minded associates, Kristol started the magazine The Public Interest in 1965. In its pages, he and others wrote about the social ills that the Democratic reforms of the 1960s and 1970s had bred. In the face of the "counterculture" of the 1960s, the fiercely patriotic Kristol argued in defence of capitalism and bourgeois values, and moved steadily towards the political Right. By the 1970s, he was registered as a Republican. He became renowned for his polemical essays: a true intellectual, he shaped his thoughts on the written page, shunning all other media, and became a deeply influential voice. His central philosophy was that the implementation of government policy was a limited tool with which to effect social change. Born in Brooklyn, New York, into a poor, non-observant Jewish family, Kristol attended City College in the late 1930s. As an undergraduate, he was an anti-Stalin Trotskyite, a cell so small, his wife the historian Gertrude Himmelfarb would later comment, that it could have met in a telephone booth. The phase did not last beyond the realities of life in Chicago in the 1940s, where Kristol and Himmelfarb moved after their marriage. Kristol's ideals were sabotaged by the raw material - the average man in the street - that he encountered. "I can't build socialism with these people," he realised. Later, he followed his wife to Cambridge, England, while she pursued her studies in 19th-century history. Returning to America in 1947, Kristol took an editing job with the magazine Commentary, then a liberal anti-communist publication, in which he published a characteristically controversial article, which included the memorable lines: "There is one thing that the American people know about Senator McCarthy: he, like them, is unequivocally anti-communist. About the spokesmen for American liberalism, they feel they know no such thing." In 1953, he was back in England, editing the magazine Encounter with the poet Stephen Spender. The magazine was a literary and intellectual exercise that was hugely influential, publishing the talented writers of the day, including Frank Kermode and Al Alvarez. What tarnished its image, however, was the revelation in the late 1960s that America's Central Intelligence Agency (CIA) had funded the magazine and that one of the editors had been a CIA agent. While it was generally assumed that it could not have been Spender, Kristol strenuously denied that he had known of any CIA involvement. Back in New York at the end of 1958, he worked for a year at another liberal anti-communist magazine, The Reporter, before taking a job at Basic Books, where he became executive vice president. In 1969, he left for New York University where he was professor of social thought, and while teaching there became a columnist for The Wall Street Journal. "Ever since I can remember," he said once, "I've been a neo-something: a neo-Marxist, a neo-Trotskyist, a neo-liberal, a neo-conservative ? I'm going to end up a neo. Just neo, that's all. Neo-dash-nothing." Irving Kristol was born on January 20, 1920, and died on September 18. He is survived by his wife, one son and a daughter. * The National

TO%20CATCH%20A%20KILLER
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EDamian%20Szifron%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shailene%20Woodley%2C%20Ben%20Mendelsohn%2C%20Ralph%20Ineson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Company&nbsp;profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

HER%20FIRST%20PALESTINIAN
%3Cp%3EAuthor%3A%20Saeed%20Teebi%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%C2%A0House%20of%20Anansi%20Press%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Most F1 world titles

7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)

7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)

5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)

4 — Alain Prost (1985, ’86, ’89, ’93)

4 — Sebastian Vettel (2010, ’11, ’12, ’13)

Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Captain Marvel

Director: Anna Boden, Ryan Fleck

Starring: Brie Larson, Samuel L Jackson, Jude Law,  Ben Mendelsohn

4/5 stars

UAE currency: the story behind the money in your pockets