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Posts Tagged ‘Deaton’

If the state got out of the redistribution business

Posted by hkarner - 15. Juli 2017

Date: 13-07-2017

Source: The Economist

Without governments, would countries have more inequality, or less?

Angus Deaton, a Nobel prize-winning economist, explores a question that intrigued him

IF WE were somehow to abolish its government, would America become less equal? Would Britain?

The obvious answer is yes; many see the reduction of market inequality as one of the main tasks of the state in a mixed economy. And indeed, across the mostly rich economies of the OECD, post-tax incomes are more equally distributed than pre-tax incomes.

But this simple understanding is seriously incomplete—both factually, and in its view on the way governments behave.

The standard case, which all economists learn, is that competitive markets are efficient, in the precise but limited sense that in a well-functioning free market it is impossible to make anyone better off without hurting at least one other person. Nothing in this guarantees an acceptable distribution of income; one person having everything can be perfectly efficient. Den Rest des Beitrags lesen »

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Economic shocks are more likely to be lethal in America

Posted by hkarner - 27. März 2017

Date: 23-03-2017
Source: The Economist

New research shows the mortality of middle-aged whites continues to rise

AMERICAN workers without college degrees have suffered financially for decades—as has been known for decades. More recent is the discovery that their woes might be deadly. In 2015 Anne Case and Angus Deaton, two (married) scholars, reported that in the 20 years to 1998, the mortality rate of middle-aged white Americans fell by about 2% a year. But between 1999 and 2013, deaths rose. The reversal was all the more striking because, in Europe, overall middle-age mortality continued to fall at the same 2% pace. By 2013 middle-aged white Americans were dying at twice the rate of similarly aged Swedes of all races (see chart). Suicide, drug overdoses and alcohol abuse were to blame. Den Rest des Beitrags lesen »

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Today’s Inequality Could Easily Become Tomorrow’s Catastrophe Economic View

Posted by hkarner - 30. August 2016

Date: 28-08-2016
Source: The New York Times By ROBERT J. SHILLER Shiller CC

Economic inequality is already a concern, but it could become a nightmare in the decades ahead, and I fear that we are not well equipped to deal with it.

Truly extreme gaps in income and wealth could arise from many causes. Consider just a few: Innovations in robotics and artificial intelligence, which are already making many jobs uncompetitive, could lead us into a world in which basic work with decent pay becomes impossible to find. An environmental disaster like global warming, pollution or disease could sharply reduce the ability of people of ordinary means to live in specific regions or entire countries.

Future wars using ever more highly destructive technology, including chemical, biological, radiological or nuclear weapons, could devastate vast populations. And it’s not out of the question that dire political changes, like the rise of racist or otherwise exclusionary social structures, could have terribly damaging consequences for less privileged people.

Of course, I dearly hope none of these things ever happen. But even if they are unlikely, as part of our progress to a better world, we should be thinking now of how we might address them. Den Rest des Beitrags lesen »

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Rethinking Robin Hood and Taming Swarms

Posted by hkarner - 11. August 2016

Modern economic insights

08 August 2016, Marcel Creemers, Red Queen Economics

This analysis is becoming quite common. Many economists think that western governments should do something to compensate the losers in the process of globalization, for instance by offering them free education and health care. In a more recent response to Angus Deaton, Joseph Stiglitz suggests that the rules of the game need to be changed – “and this must include measures to tame globalization. The two new large agreements that President Barack Obama has been pushing – the Trans-Pacific Partnership between the US and 11 Pacific Rim countries, and the Transatlantic Trade and Investment Partnership between the EU and the US – are moves in the wrong direction.” Den Rest des Beitrags lesen »

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„Ungleichheit muss kein Problem sein“

Posted by klausgabriel - 16. Juni 2016

nzz.at, 16/6

Deaton CCDer Wirtschaftsnobelpreisträger Angus Deaton gehört zu den schärfsten Kritikern von Entwicklungshilfe. Im Interview mit Thomas Fuster und Peter A. Fischer begründet er, warum Hilfe oft mehr Schaden als Nutzen anrichtet.

Professor Deaton, Sie haben im Lauf der Jahre eine zusehends kritischere Haltung zur Entwicklungshilfe eingenommen. Gab es dafür einen Auslöser?

Angus Deaton: Ich arbeitete während der Reagan-Ära kurzzeitig für die Weltbank. Die US-Regierung machte damals der Weltbank das Leben schwer und wollte von ihr wissen, was sie Gutes für die Welt tue. Also kamen alle Ökonomen der Organisation zusammen und verfassten eine gemeinsame Studie. Der Erfolgsausweis war schrecklich! Danach setzte ich mich vertieft mit dem Thema auseinander.

Wieso ist es denn so schwierig, ein Land von außen zu entwickeln?

Es ist nicht schwierig, es ist unmöglich. Länder entwickeln sich von innen. Dazu braucht es eine Regierung und eine Bevölkerung, die gemeinsam auf Entwicklungsziele hinarbeiten. Regierungen müssen zum Beispiel ein gutes Gesundheits- und Bildungsangebot zur Verfügung stellen. Das Problem mit der Entwicklungshilfe zeigt sich vor allem dort, wo externe Gelder einen sehr großen Teil der Staatsausgaben ausmachen, wie in vielen Staaten Afrikas. In diesen Fällen unterminiert Entwicklungshilfe systematisch den sozialen Kontrakt zwischen Regierung und Bevölkerung. Den Rest des Beitrags lesen »

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When Inequality Kills

Posted by hkarner - 7. Dezember 2015

Photo of Joseph E. Stiglitz

Joseph E. Stiglitz

Joseph E. Stiglitz, a Nobel laureate in economics and University Professor at Columbia University, was Chairman of President Bill Clinton’s Council of Economic Advisers and served as Senior Vice President and Chief Economist of the World Bank. His most recent book, co-authored with Bruce Greenwald, is Creating a Learning Society: A New Approach to Growth, Development, and Social Progress.

DEC 7, 2015, Project Syndicate

NEW YORK – This week, Angus Deaton will receive the Nobel Memorial Prize in Economics “for his analysis of consumption, poverty, and welfare.” Deservedly so. Indeed, soon after the award was announced in October, Deaton published some startling work with Ann Case in the Proceedings of the National Academy of Sciences – research that is at least as newsworthy as the Nobel ceremony. Den Rest des Beitrags lesen »

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Angus Deaton’s Nobel Is a Victory for Globalization – And Raises Hard Questions About It

Posted by hkarner - 14. Oktober 2015

Date: 13-10-2015
Source: Quartz

Economies are built on people’s choices, and the Nobel for economic sciences, the Sverges Riksbank Prize, has been awarded to Angus Deaton for his research in that area. “In a world where we increasingly measure welfare based on what we can consume, Deaton has given policymakers important tools to boost prosperity, particularly in poor countries, while arguing – sometimes controversially – that the world’s poor are in a far better place today than it was decades ago,” suggests Tim Fernholz for Quartz. Over the years Deaton’s research has complicated traditional models and theories by suggesting that aggregate models do not predict individual behavior. He developed models on individuals’ reactions to consumer prices, consumption over time, and poverty and consumption in developing nations. He has championed globalization for lifting millions from poverty, but also pointed to inequality as a dangerous trend and questioned the efficiency of foreign aid for hampering provision of basic services by governments in developing nations. – YaleGlobal

Deaton’s economic research suggests globalization lifts many out of poverty, yet inequality could undermine world’s most successful economies Den Rest des Beitrags lesen »

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Weak States, Poor Countries

Posted by hkarner - 12. Oktober 2015

Photo of Angus Deaton

Angus Deaton

Angus Deaton, Professor of Economics and International Affairs at Princeton University’s Woodrow Wilson School of Public and International Affairs, is the 2015 Nobel laureate in economics. He is the author of The Great Escape: Health, Wealth, and the Origins of Inequality.

OCT 12, 2015, Project Syndicate

This commentary was originally published in September 2013.

PRINCETON – In Scotland, I was brought up to think of policemen as allies and to ask one for help when I needed it. Imagine my surprise when, as a 19-year-old on my first visit to the United States, I was met by a stream of obscenities from a New York City cop who was directing traffic in Times Square after I asked him for directions to the nearest post office. In my subsequent confusion, I inserted my employer’s urgent documents into a trash bin that, to me, looked a lot like a mailbox.

Europeans tend to feel more positively about their governments than do Americans, for whom the failures and unpopularity of their federal, state, and local politicians are a commonplace. Yet Americans’ various governments collect taxes and, in return, provide services without which they could not easily live their lives. Den Rest des Beitrags lesen »

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Nobelpreis für Wirtschaft geht an Angus Deaton

Posted by hkarner - 12. Oktober 2015

Schaut nach einem würdigen Kandidaten aus, vor allem wenn ihn Martin Wolf so lobt (bzw. sein Buch) – siehe Link bei seinem Namen! (hfk)

Deutsche Wirtschafts Nachrichten  | 

DeatonDer Nobelpreis für Wirtschaftswissenschaft geht in diesem Jahr an den britischen Ökonomen Angus Deaton. Das teilte die Königliche Schwedische Akademie der Wissenschaften am Montag in Stockholm mit.

Der Nobelpreis für Wirtschaftswissenschaft geht in diesem Jahr an den britischen Ökonomen Angus Deaton. Das teilte die Königliche Schwedische Akademie der Wissenschaften am Montag in Stockholm mit. Der 69-jährige Forscher beschäftigt sich unter anderem mit Fragen der Entwicklungs- und Gesundheitsökonomie. Der gebürtige Schotte lehrt an der US-Eliteuniversität Princeton.

Die Auszeichnung ist mit acht Millionen schwedischen Kronen (etwa 850.000 Euro) dotiert. Anders als die traditionellen Nobelpreise geht sie nicht auf das Testament des Dynamit-Erfinders Alfred Nobel zurück. Die Reichsbank in Schweden stiftete den Preis erst 1968.

Er heißt deshalb auch nicht offiziell Nobelpreis, sondern «Preis der schwedischen Reichsbank für Wirtschaftswissenschaften zum Andenken an Alfred Nobel». Verliehen wird der Preis gemeinsam mit den klassischen Nobelpreisen am 10. Dezember, dem Todestag Nobels.

2014 war der Franzose Jean Tirole für seine Forschungen über Marktmacht und Regulierung mit der Auszeichnung geehrt worden.


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Let us enjoy the greatest human escape of all

Posted by hkarner - 27. Dezember 2014

Date: 24-12-2014
Source: The Financial Times By Martin WolfMartin Wolf, the Financial Times Chief Economics Commentator.

More prosperity is not necessary nor sufficient for improved health. It just makes it easier

The highest life expectancy recorded for women anywhere in the world has risen by a year every four years since 1840. This inexorable advance in longevity is, arguably, the most important of all the changes to human life in the past two centuries.

These gains in health are also widely shared: “India today has a higher life expectancy than Scotland in 1945 — in spite of a per-capita income that Britain had achieved as early as 1860.” This remark comes from a wonderful book, The Great Escape: Health, Wealth, and the Origins of Inequality , by Princeton University’s Angus Deaton, published last year, which documents the revolution in both health and wealth since the early 19th century. Of the two, the former is the more important. Who would not give up many material comforts if, in return, they could avoid the agony of watching their children die or enjoy the company of their loved ones in old age? Den Rest des Beitrags lesen »

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