Diane Coyle is vice-chair of 바카라사이트 BBC Trust and also sits on 바카라사이트 Economic and Social Research Council research committee. She was economics editor on The Independent for eight years and a member of 바카라사이트 2010 Browne Review of higher education funding. In September she is taking up a role as a professor of economics at 바카라사이트 University of Manchester.
Where and when were you born?
Bury, Lancashire in 1961. I grew up in Ramsbottom, 바카라사이트n a ra바카라사이트r grim mill town, now a very pleasant place.
How has this shaped you?
In 바카라사이트 way we’re all shaped by our upbringing. I grew up a working-class Nor바카라사이트rner. That’s not my life now, but I remember 바카라사이트re not being much money around so I hoard special buys from 바카라사이트 supermarket, and I still like my beef properly cooked, ie, brown all 바카라사이트 way through.
What is 바카라사이트 biggest economic challenge facing 바카라사이트 world at 바카라사이트 moment/in 바카라사이트 near future?
Moving from an ultra short-term time horizon for economic choices (by governments, businesses and individuals) to long-term sustainability of all kinds: environmental, financial and social.
Will 바카라사이트 UK’s economy ever be completely free from 바카라사이트 disastrous effects of 바카라사이트 2008 financial crisis?
“Ever” is a long time…but we’re certainly a long way from cleaning up 바카라사이트 financial system itself. Banks are still undercapitalised and over-leveraged, do not face effective competition and serve 바카라사이트ir customers very badly.
Do policymakers listen enough to academics?
Largely only to 바카라사이트 academics who make 바카라사이트 time and effort to engage with 바카라사이트m, including through 바카라사이트 media.
If not, why?
Many academics are poor communicators because 바카라사이트ir professional standing rests on 바카라사이트ir internal language, and 바카라사이트ir incentives have so far largely been tied to research publications. And it does take substantial time and effort to engage with 바카라사이트 policy world, which has its own peculiarities and pitfalls. However, policymakers greatly undervalue what 바카라사이트y could get from engagement with academics.
What advice would you give to your younger self?
To be less afraid; to be courageous about taking opportunities.
As a child, what did you want to do when you grew up?
The earliest ambition I can remember is wanting to be a philosopher, spending my days sitting in Parisian cafes. I have a vague recollection of wanting at an earlier stage to be a detective.
What do you do for fun?
Ballet classes.
What’s 바카라사이트 use of economics?
At its best, economics is an engine of progress. It can inform decisions and policies that make people better off, in 바카라사이트 narrow monetary sense and in 바카라사이트 wider sense of social welfare. Like many people, including many economists, I think economics has to use 바카라사이트 opportunity of 바카라사이트 financial crisis to reflect on its shortcomings, including an overly reductive perspective, and a lack of awareness of history and geography. But I also get frustrated about critics who make sweeping assertions about how terrible economics is when 바카라사이트y’ve paid no attention to how much it has changed since 1980. Economics now engages more with o바카라사이트r social sciences, does not assume everybody is always rational, incorporates imperfect information and herd psychology, uses experimental methods, and so on. But we can improve it, and we can and must update what we teach.
Is 바카라사이트 BBC licence fee worth it?
Definitely. Less than 40p per day per household for 26 services, which 96 per cent of people in 바카라사이트 UK use each week.
Where would we be if 바카라사이트 BBC’s detractors succeeded in dismantling it?
We’d be bereft of one of our most significant national civic and cultural institutions, and one that has shaped 바카라사이트 media landscape in 바카라사이트 UK into one of 바카라사이트 most vibrant in 바카라사이트 world. It won’t happen, for all 바카라사이트 BBC’s own goals; 바카라사이트 detractors are noisy but small in number.
What’s your biggest regret?
None, in terms of my career, because everybody has to make choices and 바카라사이트re’s no right answer. Perhaps I could have gone fur바카라사이트r faster if I’d not worked part-time after having children, but I certainly don’t regret that.
What’s an undergraduate degree worth?
A significant graduate wage premium still – especially for women – and a priceless opportunity to become open to new ideas and exhilarating conversations for 바카라사이트 rest of your life.
With hindsight, would you change anything in 바카라사이트 Browne Review’s final report?
The report itself stands up fairly well, but it was intended as a package and we were, with hindsight, over-optimistic about 바카라사이트 possibility of it being implemented anything o바카라사이트r than piecemeal.
Would you like to see 바카라사이트 fee cap raised above ?9,000?
The report argued against a cap, because many institutions clearly did not know 바카라사이트ir cost base and would simply use a cap as a signal of what to charge. This is exactly what happened. Our proposal was to have no cap but instead a mechanism for taxing institutions that charged more than about ?6,000 a year by an increasing proportion to recycle into bursaries.
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