“Publish and be damned.” That celebrated phrase of the Duke of Wellington has effectively become the code by which the British press operates. And for many journalists, it amounts to a hallowed principle of press freedom. It’s up to a public figure to sue, they say, if he thinks his reputation has been unfairly tarnished.

But for those on the receiving end, that principle is fundamentally flawed – as people like Formula One boss Max Mosley, whose sadomasochistic encounter with prostitutes was broadcast across the web by the News of the World, would argue.

Fervently taking the protection of privacy side of the argument, Mosley successfully sued Rupert Murdoch’s tabloid for claiming that his sex romp had had a Nazi theme, but he insists the £60,000 he was awarded does not begin to make up for the damage done by the exposure. It wasn’t just the inaccuracy of what was said. It was the very fact of making public the details of his private life. “If someone takes away your dignity,” as he puts it, “you will never replace it.” Or in Othello’s words: “He that filches from me my good name / Robs me of that which not enriches him / And makes me poor indeed.”

Mosley is now seeking a ruling from the European Court of Human Rights in Strasbourg that would force newspaper editors to consult a person before publishing something he or she might reasonably wish to stay private. In this way, a public figure could go to court and get a gagging order before publication irreversibly damaged his good name.

But there’s another side to this argument. Wouldn’t such a consultation requirement just become a device for the rich and powerful to cover their tracks. Or become, in the words of Index on Censorship’s John Kampfner, a “battering ram against good and legitimate journalism”? Is it really possible to define a point at which the private lives of public figures cease to be a fair subject for public discussion? Or has the balance of power tilted so much in favour of the press that it has become impossible for public figures to have any sort of private life whatsoever? These are some of the big questions that will be raised at the next Intelligence Squared debate in London next week.

Jeremy O’Grady, co-founder of Intelligence Squared (IQ2) and editor-in-chief of The Week magazine, introduced the first debate of the autumn 2010 season on Tuesday, 7 September at Cadogan Hall in London.

Highlights from the debate:

For future events, visit Intelligence Squared Events.