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Back in December 2007, I engaged in a friendly debate with Gideon Rachman of the Financial Times, both online and on air, about his that small states were often the happiest states. As Kosovo was preparing to declare its independence from Serbia, and with many commentators doubting if it would have a much of a future, Gideon confidently wrote: "This is the age of the small state."

Then, just a few days ago, he , apropos Switzerland's current travails: "Most of the European countries that seem to be suffering in the new political and economic climate seem to be small states: Iceland, Ireland, the Balts, the Swiss. Why?"

So here's a question for you, Gideon: has the banking melt-down caused you to change your mind?

UPDATE: With his usual elegance and style, Gideon has recanted in . He concludes: "Big is beautiful again."

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