Angus Deaton wins Nobel Prize for Economics

British economist Angus Deaton won the 2015 Economics Nobel Prize. This is for ‘his analysis of consumption, poverty, and welfare’ the Royal Swedish Academy of Sciences declared.

"To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices," the award-giving body said on announcing the 8 million Swedish crown ($978,000) prize. "More than anyone else, Angus Deaton has enhanced this understanding."

The award officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968.

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