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Princeton economist Angus Deaton was awarded the Nobel Prize in Economic Science on Monday for his analysis of consumption, poverty and welfare. His research concerns issues of immense importance for human welfare, not least in poor countries, the Royal Swedish Academy of Sciences said in a statement today. Deatons research has greatly influenced both practical policymaking and the scientific community. By emphasizing the links between individual consumption decisions and outcomes for the whole economy, his work has helped transform modern microeconomics, macroeconomics and development economics. The Swedish Academy awarded Deaton the Nobel Prize in Economics for his research in three related areas: first, his work on demand systems;
stanley cup second, for his work linking consumption and income; and lastly,
stanley cup for his work on measuring and understanding living standards and poverty in developing countries.MORE FROM MAKING SEN$EWhy the Feds po
stanley cup licy on interest rates is key to fighting povertyThe 69-year-old spent the late 1970s doing research on demand systems, which measure how prices and incomes affect individuals consumption choices. Deaton and John Muellbauers 1980 Almost Ideal Demand System was the first system to accurately capture real world demand patterns. That system, updated by subsequent researchers, is now a standard tool to study effects of economic policy.In the 1980s, Deatons work focused on the relationship between income and consumption at the aggregate and individua Pawf Civil rights groups are suing an Iowa law allowing police to arrest and deport migrants
Family washing vegetable in Delhi. Photo by Flickr user Michael Foley. Superbug Found in New Delhi WaterA drug-re
stanley cup sistant superbug was found in about a quarter of samples taken from tap water and puddles in New Delhi, indicating the bacteria is circulating widely in the area.Researchers from Cardiff University found the NDM-1 bacteria in two drinking water samples and 51 street samples, out of 200 total samples. The bacteria can be deadly and can only be treated with a few last-line, expensive antibiotics.The World Health Organization called Thursday for new focus on preventing the spread of
jordan emerging drug-resistant
stanley cup bacteria threats.Fleeing Ivory Coast ViolenceAs fighting continues in Ivory Coast between forces loyal to the internationally recognized winner of November presidential election, Alassane Ouattara, and the country incumbent leader Laurent Gbagbo, thousands are fleeing their home or heading for eastern Liberia.The U.N. refugee agency reports an estimated 100,000 people are displaced within the country, while 135,000 may have already fled to Liberia.Search for Bodies in Japan Evacuation ZoneThe search for those missing after the March tsunami is extending into the evacuation zone around the Fukushima Dai-ichi nuclear plant. Nearly 15,000 people are still listed as missing, but teams were told not to enter the 12-mile radius evacuation zone during previous searches.Radiation levels have dropped low enough to safely send in police officers wearin
