UK-born Angus Deaton wins economics Nobel Prize for work on consumption, poverty
Source: Reuters
British-born economist Angus Deaton has won the 2015 economics Nobel Prize for his work on consumption, poverty and welfare that has helped governments to improve policy through tools such as household surveys and tax changes.
The Royal Swedish Academy of Sciences said the microeconomist's work had been a major influence on policy making, helping for example to determine how different social groups are affected by specific changes in taxation.
"To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices," the award-giving body said in announcing the 8 million Swedish crown ($978,000) prize.
"More than anyone else, Angus Deaton has enhanced this understanding," it said.
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Read more: http://www.reuters.com/article/2015/10/12/us-nobel-prize-economics-idUSKCN0S614W20151012
Lifestyle | Mon Oct 12, 2015 9:54am EDT
STOCKHOLM | BY DANIEL DICKSON AND ANNA RINGSTROM