4.4 • 13.7K Ratings
🗓️ 25 February 2018
⏱️ 36 minutes
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0:00.0 | This is the BBC. |
0:30.7 | Hello, I'm Christy Young. Welcome to Desert Island Discs where every week I ask my |
0:35.7 | guest to choose the eight tracks, the book and the luxury item that they'd want to take with |
0:40.5 | them if they were cast away on a desert island. For rights reasons, the music on these podcast |
0:46.6 | versions is shorter than in the original broadcast. You can find over 2,000 more editions to listen |
0:53.2 | to and download on the Desert Island Discs website. |
1:15.7 | My cast away this week is the economist, Dame Manouche-Shafique. She took up her position as Director |
1:21.6 | of the London School of Economics last autumn. At a time when global growth forecasts were being |
1:26.4 | upgraded and the worldwide economy was basking in what those of her ilk refer to as a welcome |
1:31.4 | cyclical upturn. However, given the extent of her experience, she likely took a rather sanguine |
1:36.8 | view of those passing events. A one-time deputy governor of the Bank of England and before that the |
1:41.8 | youngest ever vice president of the World Bank, she has seen bubbles, bull markets and crashes come and |
1:47.3 | go. She also knows, from bitter family experience, the impact a country's economic fortunes has on |
1:53.7 | its citizens. In the mid-60s, her once well-to-do family fled Egypt penniless after President |
2:00.4 | Nasser's nationalization program. She says, most of human progress has come from the application of |
2:07.2 | expertise to human problems. And I think the current dismissal of expertise is very troubling. |
2:13.2 | Experts lost a lot of credibility after the financial crisis. People said, |
2:16.8 | you told us this system was fine and then it blows up. You'll be used to that, say, |
2:21.2 | Minishifika. Is it partly also to do with the fact that experts maybe up until then and even |
2:27.0 | now it's starting again have oversold what they can tell us about the world and what they can |
2:31.7 | predict? That would be fair. It would be fair. Some experts pretended that they could predict the |
2:37.4 | future and probably expressed more certainty about their forecast than was merited. Having said |
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