2015 Nobel laureate Angus Deaton

A nice summary on this year’s recipient of Nobel Prize in Economics, Angus Deaton.

The press release on “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2015”

To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices. More than anyone else, Angus Deaton has enhanced this understanding. By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics.

The work for which Deaton is now being honored revolves around three central questions:

  • How do consumers distribute their spending among different goods?…
  • How much of society’s income is spent and how much is saved?…
  • How do we best measure and analyze welfare and poverty?…

 

I follow the Knowledge Problem blog which has  nice short article recommending Deaton’s accessible work, The Great Escape as well as links to podcasts with Deaton.

For videos…

…Deaton’s work sits with the demographic analyses and data visualization of Hans Rosling (if you haven’t seen his 200 countries in 200 yearsvideo, put down everything right now and watch it; his TED talk about the impact of the washing machine is guaranteed to bring tears to the eyes of at least this unsentimental economist). It also complements Joel Mokyr’s economic history of innovation and technological change as factors enabling economic growth.

 

2015 Nobel laureate Angus Deaton | Knowledge Problem

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