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Britain, however, has ended up specializing in the ones you don't see as much of: defense aerospace, making drive shafts for cars, pills and drugs, designing chips that go into 94 percent of the world's mobile phones.

Evan Davis

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Evan Davis
Age: 62
Born: 1962
Born: April 8
Economist
Journalist
Television Presenter
Worcs
World
Car
Mobile
Drug
Cars
However
Ended
Design
Britain
Aerospace
Percent
Drugs
Shafts
Ones
Phones
Designing
Making
Drive
Pills
Much
Defense
Chips

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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.
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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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It's amazing, if you know what you want to say, how fast it is to write.
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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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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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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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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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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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Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
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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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If you're not making some mistakes, it probably means you're not trying hard enough.
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Historically, the British have always been rather wary of grand engineering projects - perhaps understandably, given that many of them have been delivered late and over budget.
Evan Davis
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Now undoubtedly, we face some very British challenges when it comes to infrastructure. We rightly cherish our back yards and green spaces, and we'll defend them passionately when projects are announced. We live in a democracy, and we like to debate these things, often for many years.
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Interest rate cuts have an effect in stimulating an economy by directly or indirectly making someone, somewhere, spend more than they otherwise would. That extra spending increases demand and ensures that we all carry on with work to do, without us having to slash our prices or our wrists.
Evan Davis
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I don't keep it secret that I live with my partner Gio. I'm very proud of my gayness. But there is lots I wouldn't want the press to write about me... it is a matter of regret that being gay is the most interesting thing about me.
Evan Davis
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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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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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At the BBC we've had plenty of women in good management jobs. It comes and goes but there's been plenty. On air, I think there's quite a bit more we can do.
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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.
Evan Davis
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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.
Evan Davis