Over recent years, the basic argument has shaded ever farther into incoherence.

The basic argument echoes the overarching thesis: as resources become more scarce, the price rises, creating an incentive to adapt.

The basic argument was that satellite providers pay for the right to rebroadcast local affiliates' signals, and that cable operators should, as well.

The credit crunch has not altered the basic arguments.

The basic arguments in favour of equity income remain intact.