Angus Deaton Wins Nobel Prize In Economics

Angus Deaton, the winner of the Nobel Prize in Economics is particularly known for his work in empirically quantifying the relative economic well being of people in different countries, something that conventional domestic economic indicators do poorly because they assume too much that is really particular to developed Western economies.  In particular, he advanced to cause of measuring third-world poverty.  He was on the short list of predicted possible winner.