Whether he acted out of spite or necessity, the effect has been the same.

ECONOMIST: Turkey��s Kurds

This was in spite of his calculations not including the effect of the corporate income tax.

FORBES: Buffett, Bettencourt, Now the Germans Are Calling for Higher Taxes

Tighter lending standards may, in effect, be cutting off their noses to spite their faces.

ECONOMIST: The credit squeeze

In spite of such confusion, Mr Hall argues that options undoubtedly have an incentive effect.

ECONOMIST: A survey on pay