#angus deaton

[edwordsmyth]

"At this present time in America, people are broken. You can look in people's faces, and see that people are struggling emotionally. When you turn on the nightly news and you see just what makes the headlines these days in the US... We have a people who are decaying from the inside. And the only way to change that… I mean, of course there are temporary reliefs to this, but the real change that can fix that is through revolutionary transformation. That's the only way to truly mend those broken souls that you see in the supermarket, sulking about, or going through their daily drudgery, or unable to get off the couch. I look at Deaton's book, on deaths of despair. What Deaton notices is that one of the things driving the opioid epidemic is that Americans just tend to complain about pain. It's either stomach problems, or back pain, or this phantom pain, this pain that they can't diagnose. Why someone has this stomach ailment, or why someone is suffering from these pains. But it's there. They're really experiencing these things. And if they can't find the real medical cause to it, I think it's a social/political cause. There's something about the various ways that American society produces these creatures who are suffering. And the only way to end that suffering, is to end what this country has become and is." -Idris Robinson

[dadsinsuits]

Angus Deaton

[trmpt]

Angus Deaton on inequality: ‘The war on poverty has become a war on the poor’

The Nobel prize winner and author of new book Economics in America argues economists must get back to serving society

[gettothedancing]

In the not so distant past, people didn't work hard, but not for the reasons many think. There were no happy peasants laboring a few hours in the fields and spending the rest of the day in leisure. They were starving and had no energy to work.

The average 18th-century Englishman got fewer calories than the average individual living today in sub-Saharan Africa. Because they couldn’t eat, these poor Englishmen worked little. Deaton writes:

The small workers of the eighteenth century were effectively locked into a nutritional trap; they could not earn much because they were so physically weak, and they could not eat because, without work, they did not have the money to buy food.

Johan Norberg in his book Progress reports the research findings of economic historian and Nobel laureate Robert Fogel:

Two-hundred years ago some twenty percent of the inhabitants of England and France could not work at all. At most they had enough energy for a few hours of slow walking per day, which condemned most of them to a life of begging.

And then, everything began to change. Deaton explains:

With the beginnings of the agricultural revolution, the trap began to fall apart. Per capita incomes began to grow and, perhaps for the first time in history, there was the possibility of steadily improving nutrition. Better nutrition enabled people to grow bigger and stronger, which further enabled productivity to increase, setting up a positive synergy between improvements in incomes and improvements in health, each feeding off the other.

[alsoaugustus]

HIGNFY 1.3 (1990)

SLATTERY: Do we get an extra point for pointing out that Saddam Hussein was once a member of Village People? DEATON: Interestingly, no. MERTON: Isn’t he the new man in Deirdre Barlow’s life?

SLATTERY: Angus, we can be more accurate for a bonus point. I think it’s thirty Mars Bars, and the point of the exercise was that bees, in terms of aerodynamic logic, shouldn’t really be able to fly.

DEATON: I made Thatcher what boasts Nigel? MERTON: Swallow.

[no-i-wont]

https://www.imf.org/en/Publications/fandd/issues/2024/03/Symposium-Rethinking-Economics-Angus-Deaton

Go Read this article!!

"When efficiency comes with upward wealth redistribution, our recommendations frequently become little more than a license for plunder." -Angus Deaton

He talks about the ways that modern capitalism is lacking: not focusing on power and the ways it should shape well being, a complete omission of ethics, and the over focus on efficiency leading to inequity in wealth redistribution (rich getting all the benefits)

He also touches on immigration and how it's a short term solution but leads to inequality of classes as history demonstrates.

[frankmweber]

Can money buy happiness?

In my previous post I looked at the distribution of wealth, which then obviously leads to the question of whether money can buy happiness. And according to recent research more seems indeed to be better. This is according to new research by Matthew Killingsworth, a senior fellow at the Wharton School of the University of Pennsylvania, which shows that the correlation between wealth and well-being…

[dipnotski]

Anne Case, Angus Deaton – Umutsuzluktan Ölmek ve Kapitalizmin Geleceği (2024)

Amerikan kapitalizminin efsunlu vaatlerinin, “Amerikan Rüyası”nın boşa çıktığı, neoliberalizmin en ateşli savunucuları tarafından dahi terkedildiği bir zamandayız. Dünyanın dört bir köşesinde pandemiden çok evvel başlamış neoliberal yıkımın etkileri üzerine birçok kitap yazıldı: Orta sınıfın erimesi, üretimin gelişmiş ve hatta gelişmekte olan ülkelerden demokrasi ve işçi haklarının pek uğramadığı…

View On WordPress