Zitat des Tages von Evan Davis:
Put simply, behavioural economics argues that human beings' decision-taking is guided by the evolutionary baggage which we bring with us to the present day. Evolution has made us rational to a point, but not perfectly so. It has given us emotions, for example, which programme us to override our rational brain and act more instinctively.
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.
Nice guys finish last, but we get to sleep in.
Men don't know much about women. We do know when they're happy. We know when they're crying, and we know when they're pissed off. We just don't know in what order these are gonna come at us.
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.
Being funny, it turns out, is like being a bank. It's a confidence trick. As long as everyone believes in you, you are fine.
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.
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.
Reducing every issue to an argument can become stale but it's often a very good way of clarifying issues.
The two questions that anyone ever asks me are: 'Are house prices going to go down?' and 'Is it a good time to fix my mortgage rate?'
If you're not making some mistakes, it probably means you're not trying hard enough.
It's amazing, if you know what you want to say, how fast it is to write.
Mistakes are nothing to be ashamed of.
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.
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.
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.
Art can help a town by attracting a certain Bohemian population that adds life to the bars, character to the streets and a buzz to the name. Employers may then follow. But art can't do much if every town does it. There aren't enough Bohemians.
I swing both ways. I can see things from a kind of conservative point of view and from a more socially liberal or left-wing point of view.
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.
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.
I actually profoundly think the world's a better place when economics is fairly boring... The more boring the better.
Even though disciplined sleeping habits and the adrenalin of live radio ensures that we are very awake while on duty, there is evidence of a phenomenon called circadian desynchronosis which causes one's brain to function slowly at those times of day when it thinks it should be asleep, regardless how wide awake the body is.
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.
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.
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.
But beginners to the World Economics Forum have to understand there is no single Davos experience, and there is no single Davos community either. There are numerous tribes who interact only at a minimal level.
Personally, I'd like us to have a few more women on the 'Today' programme.
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.
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.
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.
Once we are fed, heated, housed and healthy, our extra consumption inevitably has an element of luxury about it. And once luxury enters the scene, the practicalities are in trouble, as women who wear expensive stiletto heels can testify.
All socio-political phenomena in the U.K. come laden with the baggage of a class-based theory or two attached to them. In the case of gay Tories, there is one particularly silly variant of the category, which asserts that gayness is bred in public schools and thus fits with Conservatism like hand in glove.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
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.
I rarely come away from presenting the 'Today' programme without some sense of regret. There is always some question that I should have asked, or some point that I should have made. This is annoying but not surprising. Perfection is hard to achieve in a three-hour live programme.
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.