Angus Deaton from UK wins Nobel Prize in Economics

(Photo: nobelprize.org)

- In order to create an economic policy which promotes welfare and reduces poverty, we first have to understand individual choices in consumption. More than anyone else, Angus Deaton has improved that understanding – Reuters cited the Academy as stressing in the release.

The Nobel Prize in Economics was established in 1968 and this year’s prize comes with a financial reward of 8 million Swedish crowns, that is, USD 978,000.