The 2015 Nobel Memorial Prize in Economic Sciences Was Awarded for The Series Research of Consumption, Poverty and Welfare
Journal Title: Демографія та соціальна економіка - Year 2015, Vol 3, Issue
Abstract
Awarding the Nobel Prize in Economics was on the background of growing interest in the studies of social processes. Angus S. Deaton was awarded the Prize «for his analysis of consumption, poverty, and welfare». Laureate’s works help to find out the answer to one of the fundamental questions of world economic thought – the nature of inequality. Scientist has made a great contribution to determining best ways of evaluation and comparison of the welfare and poverty in geographic and time dimensions; explored the correlation between the amount of income and consumption in the economy. Deaton’s work had a great impact on micro and macroeconomics, including economic growth, consumption and inequality, as emphasized the close relationship between the depth of individual economic decisions and their consequences for the whole economic system. The results of his research were not only widely accepted in the scientific community, but practically applicated in public policy in the field of economic regulation.
Authors and Affiliations
E. M. Libanova
Keywords
Related Articles
- EP ID EP286918
- DOI 10.15407/dse2015.03.001
- Views 81
- Downloads 0
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