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Nobel Prize Awards

Angus Deaton richly deserves his Nobel in economics

The following editorial appears on Bloomberg View: Angus Deaton, this year's winner of the Nobel Memorial Prize in Economic Sciences, is a rarity: a careful social scientist and an honest policy wonk. In recent years, economics has had no better champion. For many years a professor at Princeton, Deaton played a crucial role in developing methods for correctly measuring poverty and consumption -- a more difficult problem than it appears, and fundamental to many branches of the science. Later, he connected these findings to the mysteries of growth and development. As the academy put it in announcing the prize, this work "helped transform development economics from a theoretical...