singular_me
12th October 2015, 05:24 PM
no comment... beside that the nobel prize surpassed itself again at spreading fallacies
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Nobel Memorial Prize in Economic Sciences: Princeton Economics Professor Angus Deaton Wins Prize
The Royal Swedish Academy of Sciences on Monday honored Deaton for his "analysis of consumption, poverty, and welfare." His works include the Deaton paradox.
Stockholm (AFP) - Angus Deaton, a British-US professor at Princeton University, won the Nobel Economics Prize Monday for groundbreaking work on poverty and promptly warned that inequality is becoming a serious global threat............
Deaton was honoured for three related achievements: developing with his colleague John Muellbauer around 1980 a system for estimating the demand for different goods; studies of the link between consumption and income that he conducted around 1990; and for measuring living standards and poverty in developing countries with the help of household surveys.
Deaton "looks more closely at what poor households consume to get a better sense of their living standards and possible paths for economic development. He truly, deeply understands the implications of economic growth, the benefits of modernity, and political economy," Tyler Cowen, an economics professor at George Mason University in Virginia, said on his blog Marginal Revolution.
Deaton's research has shown how clever use of household data can shed light on issues such as the relationship between income and calorie intake, and gender discrimination within the family.
Deaton saw how an economic indicator such as gross domestic product (GDP) -- which measures a country's economic growth and is the preferred indicator of governments and institutions -- was insufficient in evaluating the general welfare of a people.
Deaton is optimistic about economic progress in the world............
What we see is the result of hundreds of years of unequal development... that left a whole part of the world behind," he said.
"I'm hugely worried about inequality and I think inequality has gone past the point where it's helping us all get rich, which it can do, and it's really becoming a serious threat," he added.
He singled out climate change as difficult to handle as an example, "because so many people who have so much money are opposed to climate change reform."
He also said a great sadness was that of the enormous amount of money spent on aid in Africa, very little had gone on data collection so there was little information on its benefit.
Deaton was born in Edinburgh, Scotland, and taught at the universities of Cambridge and Bristol before becoming professor of economics and international affairs at Princeton in 1983.
He is the 76th winner of the economics prize and the 55th of US or dual US citizenship since it was first awarded in 1969.
Deaton wins the prize sum of eight million Swedish kronor (about 860,000 euros, $950,000).
more
http://news.yahoo.com/us-british-angus-deaton-wins-nobel-economics-prize-112634923.html
------------------------
Nobel Memorial Prize in Economic Sciences: Princeton Economics Professor Angus Deaton Wins Prize
The Royal Swedish Academy of Sciences on Monday honored Deaton for his "analysis of consumption, poverty, and welfare." His works include the Deaton paradox.
Stockholm (AFP) - Angus Deaton, a British-US professor at Princeton University, won the Nobel Economics Prize Monday for groundbreaking work on poverty and promptly warned that inequality is becoming a serious global threat............
Deaton was honoured for three related achievements: developing with his colleague John Muellbauer around 1980 a system for estimating the demand for different goods; studies of the link between consumption and income that he conducted around 1990; and for measuring living standards and poverty in developing countries with the help of household surveys.
Deaton "looks more closely at what poor households consume to get a better sense of their living standards and possible paths for economic development. He truly, deeply understands the implications of economic growth, the benefits of modernity, and political economy," Tyler Cowen, an economics professor at George Mason University in Virginia, said on his blog Marginal Revolution.
Deaton's research has shown how clever use of household data can shed light on issues such as the relationship between income and calorie intake, and gender discrimination within the family.
Deaton saw how an economic indicator such as gross domestic product (GDP) -- which measures a country's economic growth and is the preferred indicator of governments and institutions -- was insufficient in evaluating the general welfare of a people.
Deaton is optimistic about economic progress in the world............
What we see is the result of hundreds of years of unequal development... that left a whole part of the world behind," he said.
"I'm hugely worried about inequality and I think inequality has gone past the point where it's helping us all get rich, which it can do, and it's really becoming a serious threat," he added.
He singled out climate change as difficult to handle as an example, "because so many people who have so much money are opposed to climate change reform."
He also said a great sadness was that of the enormous amount of money spent on aid in Africa, very little had gone on data collection so there was little information on its benefit.
Deaton was born in Edinburgh, Scotland, and taught at the universities of Cambridge and Bristol before becoming professor of economics and international affairs at Princeton in 1983.
He is the 76th winner of the economics prize and the 55th of US or dual US citizenship since it was first awarded in 1969.
Deaton wins the prize sum of eight million Swedish kronor (about 860,000 euros, $950,000).
more
http://news.yahoo.com/us-british-angus-deaton-wins-nobel-economics-prize-112634923.html