An Interview with Mimi Yates

You work for one of the UK’s leading think tanks: the Adam Smith Institute. Tell us about your journey into Economics.

I actually studied Philosophy at the University of Exeter, and only knew I really wanted to get into policy after I was exposed to it in my year abroad in Venice, where I studied Global Governance. Through my year abroad I was able to do a part time internship at UNITAR. And then, that summer, another internship with a collaborating think tank in Geneva, called GemLabs - which I really enjoyed! Coming back to London, I was keen to really get going on public policy. So I went onto lots of different websites, and ASI was notably somewhere I thought would be very interesting to work at - so I applied for an internship here. After two weeks interning, and finishing my degree, I got offered a job here at ASI. So that was my way into Economics!

I have to say, there have been quite a few people that I've spoken to that did start out with philosophy before going into economics. Why do you think philosophy provides a good stepping stone?

I think that Philosophy perhaps just opened me up to really question “why, why, why” about everything - something which is fundamental in Economics, but is often disregarded! In particular, Philosophy has helped me working here at ASI where, as a think tank, we dig into policies and question the mechanics behind them to understand why they aren’t working. Not being satisfied with every answer given, and questioning everything, is definitely one of the elements of Philosophy that really helped my path into Economics. 

I noticed you mentioned a year abroad in Venice. That sounds very interesting. Why did you decide to take a year abroad?

I’ve always loved travelling, and I just thought that it'd be really interesting experiencing a different culture and learning with people from all around the world. My university in Venice was actually an Erasmus University built specifically for international students: it was somewhere you really got to the heart of different political issues just by being around different people. I always encourage years abroad, especially if you do want to go into a line of work in which you’re dealing with policies and international relations for this reason. It was honestly the best thing I ever did! 

You mentioned your work experience abroad. Could you tell us a bit more about what these experiences were, what you did and why you decided to do them?

Definitely! I worked with Geneva Macro Labs, an international, community-based think tank and I found the experience super interesting. I wrote co-wrote a paper with a couple of other interns, as well as with the Chief Macroeconomist of the ILO. We focused on valuing natural capital, so there I looked a lot at climate responsibility, and how to generate climate innovation and new climate technology, which I find super interesting. I did a lot of my internship remotely because it was during COVID, but then I did also go out to Geneva for a bit and work with them there. I got to go and see UN Women, which is an amazing organisation, as well as just being in Geneva alongside all of these amazing organisations and agencies.

Do you think the fact that you were around so many people interested in policy during your work experiences influenced your decision to work with the ASI?

The mantra of the ASI is: “Radical and reasonable”. I think I found this idea interesting because I I love being a place where there's so much debate, and where not everyone agrees with each other. I find being at the ASI gives me really exciting opportunities to have conversations with people on things that you don't just don't agree on. And there are many times in my job where someone has really strong beliefs, and they're very well thought out. I find it so fascinating to fully understand their beliefs, even if they don’t align with my own. I found that was the case at GemLabs as well.

How would you explain what the ASI stands for?

At ASI we are a very dynamic and young think tank. There are only about seven or eight of us but we're on the same level as organisations that have 30 to 40 people. I do find it really cool being in such a close knit organisation that has so much impact. We're a neoliberal think tank and emphasise pro-innovation, pro-market ideas. Something we focus on in particular is getting younger people at the forefront of policy making decisions: for instance, we just launched “The Next Generation Centre”, where we have young fellows who are really on the cusp of generating new ideas in policy-making. I am the director of engagement and operations at the ASI, so my day to day is running general operations and helping out with lots of our events. I have also just written my first research paper with ASI about London nightlife which is extremely exciting!

That sounds amazing! Could you tell us a bit more about the research paper? 

We’ve found that it's so expensive to go out in London; it's just unaffordable for many. And, it's not really safe to go out after dark, especially as a woman. Looking into this, however, we were able to come up with simple policy solutions that could make it safer and cheaper to go out in London. For instance, we found that women find it particularly unsafe waiting a long time for taxis which is typical in London due to their high demand during the evenings. We’ve advocated expanding the night tube to combat this, and to hopefully improve safety.  We are hosting a panel that includes a number of prominent business leaders to discuss the important issues raised in this paper on the 26th May.

Young people are also finding it hard to afford a decent quality of living in central London. Some people think this is because they spend all their cash buying smashed avocado on toast, but actually the cost of renting is the biggest problem. We want to be able to have a decent level of disposable income and afford to go out for a drink with our friends like our parents could.  Our paper summarises the thoughts of a wide range of young people - we took to the streets to interview them and visited them in pubs and bars.  Pretty much all of them said they would not be able to stay out after 11pm because it is just too difficult to get home.  This is really impacting their enjoyment and London’s nightlife generates £46bn so there is a significant economic impact too of lacklustre nights out too. 

I would love to ask whether you had any sort of guidance or advice for young people who are going to be reading this and thinking this could be a career that they want to pursue?

From my own experience in Westminster, working in think-tanks is sadly very male dominated and quite intense. I would say the biggest tips are to avoid impostor syndrome and stand your ground. There is no reason not to put yourself forward for as many opportunities as you can, and don't underestimate yourself. Take every opportunity you can: go to networking drinks; make friends with people in your workplace; be confident! There are also lots of really inspiring women in Westminster that can show you the way.

My mum, who was a successful business woman, always told me ‘don't laugh at things that aren't funny’. And I really liked that because you know, if someone said something, a joke or something that you don't agree with, and that you find offensive, you don't need to laugh or put a smile on your face. Don’t be a people pleaser.

One final question. You mentioned being around very inspiring women in Westminster. Is there anyone in particular who's been an influence on you or perhaps an event you've been to that you've found particularly inspiring or interesting?

I actually want to be a journalist. So I would say I've met some really cool journalists who just love what they do. I quite like Katie Balls from Women with Balls and The Spectator. She has some really great podcasts with some amazing women being interviewed.

I would also say there are some really great high powered journalists there like Laura Keys. I’ve not met her but I think she's incredible. I absolutely love watching her interview people. I really like a few BBC journalists as well. There's a woman called Laura Bates who I've met a couple of times, and who works at the BBC now. She’s exposed quite a lot of the toxic Westminster culture. I really, really respect her for that for speaking out about it because I think that sometimes, working within Parliament, there can be a certain hierarchy. I think that can be quite difficult for young women when you first enter into it, so it is brilliant to have role models to look up to.

Edited by Sophie Bailes

From the Team

The Indian Election

As India’s 6 week-long general election for 2024 comes to an end, with the results being announced on the 4th of June, a date appearing in the very near future, the question, who will be the next prime minister of India, has been asked. With Modi’s Government being in power at present, many are certain he will be most favoured and thus, able to continue his streak. However, when delving into Modi’s impact on India and how efficient his party has been to form change amongst the country, although his positive contributions cannot be ignored such as making India the fastest-growing economy in the world within his first year at office, can he truly be classed as an all-round amazing Prime Minister?

India is known as a powerhouse for agriculture where over 70% of its rural households depend primarily on agriculture for their livelihood as well as the country being the World’s largest producer of milk, pulses, and spices. However, persistent protests of distraught farmers suggest that this sector is facing some major issues that remain to be undealt with by the Government thus hinting ignorance and motives that may not align with the needs of the country. Therefore, the question arises of how valuable is Modi’s government to the Indian Economy?

For a country where agriculture holds such high value surely, their best interests must be placed at the centre of attention however, farmers have been battling to have their needs met such as higher government-backed prices for their crops and debt forgiveness. During a recent protest in February 2024, before being able to reach Delhi, farmers were faced with cement barriers and drones dropping tear gas leading to protesters suffering injuries and even a death of one farmer. This response from the Government suggests that with elections around the corner, Modi may be trying to avoid facing criticism that may dampen his image.

Yet, with agriculture being of high relevance, why do Indian Citizens continue to favour Modi? After Modi’s position to power, the Indian Stock Market has become the world’s 4th Largest where it’s total market capitalisation rose to above $4 trillion in 2024. Additionally, Modi has ‘guaranteed’ to make the economy the third largest in the world if he were to win for the third term in a row with projections as shown in the graph below indicating a booming economy. Modi has claimed that he needs to remain in power to lead India and ensure that by 2047 It is a developed economy however, has not stated the measures he plans to take.

So with that said, is Modi ignoring the agricultural segment, a crucial segment of the Indian Economy or is he simply focusing on boosting the country’s economy and meeting the needs of the economy of the future?

Further Resources

India Halts Farmers March

India’s Stock Market

Modi’s Goals

Thanks for reading! See you in the next issue - Erin McGurk