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Reducing every issue to an argument can become stale but it's often a very good way of clarifying issues.
Evan Davis
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Evan Davis
Age: 62
Born: 1962
Born: April 8
Economist
Journalist
Television Presenter
Worcs
Every
Clarifying
Way
Stale
Good
Reducing
Issue
Argument
Issues
Often
Become
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Crossrail is a prime example of infrastructure. It is a rather deadly word, but I think it is exciting stuff, the civil engineering which makes Britain tick - the bridges, tunnels, power and water networks, which bind us together.
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We are more likely to cheat if we see others doing so. We tend to conform to accepted norms of reasonable behaviour, rather than adhere to strict rules.
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We Brits print banknotes out in Debden in Essex, and have contracted it out to the private sector. Here in the U.S. it is a government operation right in the heart of Washington next door to the Holocaust Museum.
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Now I can broadcast to an audience of several million people on the 'Today' programme. I can talk about the day's news. But on radio, believe it or not, we have notes and scripts. And while we might ad lib the odd wryly amusing asides, they come at the frequency of a suburban bus. About one every 90 minutes.
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Although being economics editor sounds impressive, it does not mean I actually edit anything. It mainly reflects two decades of title-inflation at the BBC, which has given ever more status to senior reporters, presumably because it is cheaper to do that than to offer higher pay.
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If you're not making some mistakes, it probably means you're not trying hard enough.
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The Germans are clear about what they do - cars and machine tools the Japanese are clear about what they do - electronics the Chinese are clear about what they do - they're the workshop of the world.
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One of the key problems is that the Germans know what they do because everywhere they go there's a 'made in Germany' label on it - they can feel proud of Volkswagens and Audis and Mercedes.
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It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion.
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Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
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A chair's function is not just to provide a place to sit it is to provide a medium for self-expression. Chairs are about status, for example. Or signalling something about oneself. That's why the words chair, seat and bench have found themselves used to describe high status professions, from academia to Parliament to the law.
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Someday we'll look back on this moment and plow into a parked car.
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As it happens, I have personally been something of an enthusiast for the London Olympic games, mainly on the grounds a) that a bit of wasteland will be made nice and b) that it tends to make everybody happy that their country should be the centre of world attention for a couple of weeks in their life.
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