Princeton’s Angus Deaton wins Nobel in economics

British-American economist Angus Deaton has won this year’s Nobel Prize in Economic Sciences. The Royal Swedish Academy of Sciences said the award was announced in recognition of his analysis of poverty and welfare.

The award-giving body announced Monday that this year’s economics prize would be bestowed upon the British-American professor Angus Deaton, who lectures on economics and international affairs at Princeton University.

Deaton was chosen because of his comprehensive research on “consumption, poverty and welfare.”
“To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices,” the jury said upon announcing the 8 million Swedish crown (860,000 euros, $978,000) prize. “More than anything else, Angus Deaton has enhanced this understanding.”

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Source News: DW