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Quote by Evan Davis

“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.”

Quote by Evan Davis

Author

Evan Davis is a distinguished economist recognized for his expertise in finance and economics, particularly within the context of the global economy. Born on April 8, 1962, he has made notable contributions to the understanding of the global economy and has been a prominent figure in the financial industry. more

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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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“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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“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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“Most people hugely underestimate the amount of 'empty space' we have in our country. Fly over the U.K., and you see that human settlement does not fill up the U.K. at all. It accounts for something of the order of 15 per cent of the landmass.”

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“My instinct is to assume that we consumers are an inconsistent bunch. We like competition if it delivers low prices, but grumble if it delivers the bad news that prices need to go up.”

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“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.”

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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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“Some people harbour an awkward clash of feelings - homosexual attraction on the one hand and shame or embarrassment about that attraction on the other. It is well known that the mind struggles to sustain conflicting views.”

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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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