British - Economist | April 8, 1962 -
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.
Evan Davis
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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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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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Black Friday is not another bad hair day in Wall Street. It's the term used by American retailers to describe the day after the Thanksgiving Holiday, seen as the semi-official start of Christmas shopping season.
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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.
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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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It's not a bad idea to occasionally spend a little time thinking about things you take for granted. Plain everyday things.
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Nice guys finish last, but we get to sleep in.
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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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In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
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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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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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