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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.

Evan Davis

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Evan Davis
Age: 62
Born: 1962
Born: April 8
Economist
Journalist
Television Presenter
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Interestingly
Moments
Irrationality
Human
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Humans
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Psychology
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Economics
Behavioural

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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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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.
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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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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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If you're not making some mistakes, it probably means you're not trying hard enough.
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The new industries are brainy industries and so-called knowledge workers tend to like to be near other people who are the same. Think of the City of Hollywood. People cluster. This means you have winning regions, such as London and Cambridge, and losing regions. The people who want to be top lawyers in Sunderland are hoovered up by London.
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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.
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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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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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I don't want to sound like 'chirpy Evan' who's just bouncing around with his unrealistic views and doesn't understand what's going on.
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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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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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I actually profoundly think the world's a better place when economics is fairly boring... The more boring the better.
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For years, we've grown dependant on American consumers as the world's spenders of last resort. They've kept Europe out of recession, allowed China to industrialise, and prevented global deflation. But at the same time, they've not been looking after their own futures.
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I've always been scared of advertising folk. I've met them at parties and I've been to their offices and I've always found them intimidatingly cool. At one company I visited, they held their meetings in a caravan that had somehow been installed in the place, a rather more exotic place to gather than the typical BBC glass box.
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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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For industry to settle in a country, you first need electricity for electricity, you need some trained workers for trained workers, you need some schools for schools you need some money for money, you need some industry.
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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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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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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.
Evan Davis