Angus Deaton

Angus Stewart Deaton was born on October 19, 1945, in Edinburgh, Scotland. He would go on to become a prominent economist known for his work in microeconomics, welfare economics, and development economics. Throughout his career, Deaton has contributed significantly to the understanding of consumption, poverty, and welfare, eventually earning the Nobel Prize in Economic Sciences in 2015 for his analysis of consumption, poverty, and welfare.

In 1969, Angus Deaton graduated with a PhD in economics from the University of Cambridge. His doctoral thesis focused on the specification and testing of models of consumer demand. His work laid the foundation for his later contributions to the fields of microeconomics and his influential studies on consumer behavior and decision making.

In 1983, Angus Deaton co-authored 'Economics and Consumer Behavior' with John Muellbauer. This seminal book advanced the field by providing a comprehensive account of the theory of consumer choice, including demand systems and duality theory. It has been used extensively in both undergraduate and graduate courses in economics and is one of the most cited works in the field.

In September 1984, Angus Deaton joined the faculty of Princeton University as a professor of economics and international affairs. His tenure at Princeton has been marked by significant research contributions and fostering of academic growth. Deaton held this position until his retirement, becoming a Professor Emeritus and continuing to contribute to economic thought and policy discussions.

Angus Deaton was awarded the BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance, and Management category on April 27, 2009. This award recognized his outstanding work on the analysis of consumption, savings, and the measurement of welfare and inequality. Deaton’s pioneering research provided powerful tools to analyze policy impacts on consumption and wealth distribution globally.

On September 7, 2012, Angus Deaton published 'The Great Escape: Health, Wealth, and the Origins of Inequality'. In this book, Deaton explores how the progress in health and wealth has improved and shaped the world over the past few centuries and discusses the inequality that has arisen in its wake. The book offers critical insights into how policy can address these challenges and ensure that progress benefits everyone.

On October 12, 2015, Angus Deaton was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his profound contributions to the analysis of consumption, poverty, and welfare. Deaton's research has greatly improved the understanding of individual consumption choices and how aggregate consumption data relate to the economy. His work has profound implications for economic policy and development.

In 2016, Angus Deaton was knighted in the New Year's Honours List for his services to research in economics and international affairs. The knighthood recognized his outstanding contributions to fields such as microeconomics, health economics, and consumer behavior, as well as his influence on policy debates around the world.

In February 2017, Deaton was appointed to the Order of the Companions of Honour, a special award granted for service of conspicuous national importance. This honor highlighted his exceptional contributions to economic thought and his research on poverty and development, which have provided valuable insights into the economic challenges faced by populations globally.

On April 29, 2019, Angus Deaton co-authored the book 'Deaths of Despair and the Future of Capitalism' with Anne Case. The book examines the rising mortality rates among non-college-educated white Americans, linking these 'deaths of despair' to economic and social factors. Deaton and Case provide a detailed analysis of issues like income inequality, lack of social mobility, and the impact of corporate practices on public health.