Angus Deaton: A Skeptical Optimist Wins the Economics Nobel

Back in the late nineteen-nineties, I was working on a piece about the stock market and consumer spending, both of which were surging. Looking for a respected economist to provide a pithy quote backing up my thesis that rising stock prices were driving individual spending decisions, and that the stock-market bubble was likely to end badly, I called Angus Deaton, the Scottish-born Princeton University professor who has just been awarded this year’s Nobel Prize for economics.

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