CATO celebrates Angus Deaton’s Nobel Prize for Economics

Well ain’t that interesting. I assumed Deaton was a Scot scholar laboring away at some god forsaken windswept Scottish University, but Deaton was a big time Princeton prof. I should do more research.

And Deaton was celebrated by CATO for all his work on the developing nations and human welfare progress. He thinks top down (read socialist) projects don’t work. Good for them.

Here’s the note I got yesterday.

From Mr. Moar of CATO:

As you likely know, the recipient of the 2015 Nobel Prize in Economics is Angus Deaton, professor of economics at Princeton University, for his study of individual consumption choices, which improved our understanding of wealth and poverty, savings and consumption, and economic development.

The Cato Institute hosted Professor Deaton in December, 2013, for a discussion, which you can view here, on his most recent book, The Great Escape. Ian Vasquez, Cato’s director of the Center for Global Liberty and Prosperity, writes on Cato@Liberty that

[Deaton’s] work on carefully measuring consumption and other measures of well-being led him to understand development as a complex process not susceptible to improvement by technical or top-down interventions. For Deaton, knowledge is a key to development—even more so than income—and helps explain the tremendous progress humanity has experienced in the last 250 years when parts of the world we now call rich began their “great escape” from poverty and destitution.
Deaton’s careful work shows that humans are better off today than at any time in history—a point that other scholars have amplified at Cato, including Harvard psychologist Steven Pinker, and Cato’s own Marian Tupy, editor of HumanProgress.org. Vasquez notes in the blog post that Deaton is among a growing crowd of development experts who are skeptical of foreign aid, and Deaton discusses this at length in The Great Escape. Here are some links for your review:

“The Great Escape: Health, Wealth, and the Origins of Inequality,” Cato Book Forum featuring Angus Deaton.
“The Great Escape,” Cato Policy Report, March/April 2014, featuring remarks from Angus Deaton.
“The Great Escape from Poverty,” Cato Daily Podcast featuring Angus Deaton.
“Nobel Laureate Angus Deaton on Human Progress, Poverty, and Aid,” by Ian Vasquez.
Thank you for continuing to support our work and please let me know if I can be of assistance now or in the future.

Best regards,
Harrison

Harrison E. Moar
Director of Sponsor Services
202-789-5259
hmoar@cato.org

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One response to “CATO celebrates Angus Deaton’s Nobel Prize for Economics

  1. So basically, Deaton has concluded that it is impossible to anticipate outcomes that are affected by the choices made by individuals.
    The Nobel Prize is doubtlessly for his work in making such a Libertarian concept as ‘free will’ understandable to socialist-minded economists.
    Not that they will accept the validity of the concept…

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