The Contribution of Angus Deaton to consumption, poverty, and Welfare.

Abstract

Angus Deaton is one of the most influential economists in modern economics, particularly in the fields of consumption analysis, poverty measurement, welfare economics, and development economics. He was awarded the 2015 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel “for his analysis of consumption, poverty, and welfare.”Overall, Angus Deaton transformed the study of consumption, poverty, and welfare by linking detailed household-level economic behavior with broader economic outcomes. His use of demand analysis and household survey data provided economists and policymakers with better tools for measuring living standards and understanding poverty. His contribution ultimately helped bridge microeconomics, macroeconomics, and development economics, which was central to his 2015 Nobel recognition.