Angus Deaton

Angus Deaton has been awarded the Nobel Prize in Economics.

“To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices. More than anyone else, Angus Deaton has enhanced this understanding. By linking detailed individual choices and aggregate outcomes, his research has helped transform the fields of microeconomics, macroeconomics, and development economics.”

— Royal Swedish Academy of Sciences

More:

“Princeton professor Angus Deaton wins Nobel Prize in economics,” Jeff Guo, Washington Post

“Why Angus Deaton Deserved the Nobel Prize in Economics,” Christopher Blattman, Foreign Policy

Video [21:02]: Angus Deaton addressing the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) on “Health, Wealth and the Origins of Inequality.” October 17, 2013. A complete audio recording of his remarks is here.

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Lemonade Stands

“My kids had a lemonade stand, and it didn’t look like any version of capitalism I’ve ever seen. If we really want our kids to learn how the modern American economy works, we’re going to have to take off the kid gloves.”

“Down With Lemonade Stands,” Michal Lemberger, Slate

Big Savings!

The Friday after Thanksgiving or “Black Friday” is reserved by global corporations for whipping Americans into a frenzy of over-consumption.  Millions camp out and line up for hours hoping for bargains. Most end up buying things they don’t need at prices they can’t afford.

Save big today. Don’t buy a single thing. If you want to spend something, spend the day with friends and family. Spend time at the library; borrow a book and spend time reading it. Spend time making something. You’re not what you buy. You’re not a “consumer.” You’re a human being.

More:

“Buy Nothing Day: #OCCUPYXMAS,” AdBusters

“Buy Nothing Day,” Wikipedia, the free encyclopedia

BuyNothingDay.org

“Black Friday: Who has money to spend when the economy is in the dumps?” Anastasia Christman, The Christian Science Monitor via Alaska Dispatch

“5 Reasons to Skip Black Friday Sales,” Kimberly Palmer, U.S. News & World Report

“The Limits of Black Friday and Cyber Monday,” John Jannarone, Wall Street Journal

“Just A Holiday Reminder: Black Friday Sales Are Utterly Meaningless,” Charles Hugh Smith, Business Insider

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Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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