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When a population saves a lot, the funds are invested outside the country as well as inside. If the Japanese invest in the United States, it pushes their exchange rate down and makes their manufacturing more competitive.

Evan Davis

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Evan Davis
Age: 62
Born: 1962
Born: April 8
Economist
Journalist
Television Presenter
Worcs
Country
Rate
Funds
Outside
Manufacturing
Inside
Japanese
United
Exchange
Makes
Invest
States
Competitive
Pushes
Wells
Fund
Saves
Well
Population
Invested

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I've never enjoyed sleep as much until I got the 'Today' job. There is something about early sleep that's much better than late sleep. I feel myself going to sleep I don't just plonk my head on the pillow. It's a sort of winding-down thing.
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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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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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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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There is a strong link between the following three things: exporting, manufacturing and the degree of saving by the population. It's complicated, but if the population doesn't save, the economy will not tend to export as much, and if it doesn't export as much, it won't manufacture enough.
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Someday we'll look back on this moment and plow into a parked car.
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