Angus Deaton Quotes
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Broadly shared progress can be achieved with policies that are designed specifically to benefit consumers and workers. And such policies need not even include redistributive taxation, which many workers oppose. Rather, they can focus on ways to encourage competition and discourage rent-seeking.
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Inequality is not the same thing as unfairness; and, to my mind, it is the latter that has incited so much political turmoil in the rich world today.
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I think putting numbers together into a coherent framework always seemed to me to be what really matters.
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I was born in Edinburgh, in Scotland, a few days after the end of the Second World War. Both my parents had left school at a very young age, unwillingly in my father's case. Yet both had deep effects on my education, my father influencing me toward measurement and mathematics, and my mother toward writing and history.
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I didn't care for school much - it was very strict, corporal punishment in the form of the 'tawse' was common and unpredictable, and I was often afraid - but I believe that I did well enough; indeed, my mother always regretted that I had not stayed long enough to become the 'dux,' as the best pupil was called.
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Economic growth is very important, but it is not the only thing, and it must be accompanied by sharing with those who are left behind, through effective social services and provision.
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I think lower wages have made men much less marriageable than they were before. It's not just like your job goes to hell. Your marriage goes to hell. You don't know your children anymore. Your children have a higher chance of being screwed up.
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When I was a boy living in Edinburgh in Scotland, especially in December, when the hours of daylight were few, and it was cold, and often wet, I used to dream of escaping to a tropical magic kingdom.
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The school in the Yorkshire mining village in which my father grew up in the 1920s and 1930s allowed only a few children to go to high school, and my father was not one of them. He spent much of his time as a young man repairing this deprivation, mostly at night school.
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We are trying to say that low income and low job opportunities, after a long period of time, tears at the social fabric.
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Americans, like many citizens of rich countries, take for granted the legal and regulatory system, the public schools, health care and social security for the elderly, roads, defense and diplomacy, and heavy investments by the state in research, particularly in medicine.
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Although globalization and technological change have disrupted traditional work arrangements, both processes have the potential to benefit everyone. The fact that they have not suggests that the wealthy have captured the benefits for themselves.
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The key is to somehow find a way of tackling rent-seeking, crony capitalism, and corruption - legal and illegal - and build fairer, more equal society without compromising innovation or entrepreneurship.
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Trade, migration, and modern communications have given us networks of friends and associates in other countries. We owe them much, but the social contract with our fellow citizens at home brings unique rights and responsibilities that must sometimes take precedence, especially when they are as destitute as the world's poorest people.
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What is not OK is for rent-seekers to get rich.
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I have the great good fortune that one of my collaborators in work, Anne Case, is also my collaborator in life.
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A lot of people, including me, are worried that inequality will lead to bad things.
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High quality, open, transparent, and uncensored data are needed to support democracy.
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The globalization that has rescued so many in poor countries has harmed some people in rich countries, as factories and jobs migrated to where labor is cheaper.
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Those of us who were lucky enough to be born in the right countries have a moral obligation to reduce poverty and ill health in the world.
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Businesses have moved from doing business to doing lobbying, and I think that's a very bad thing.
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If someone thinks of something, some new innovation that benefits us all, and the market works properly, they get richly rewarded for that, and that's just terrific, and that creates inequality.
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Inequality is partly a marker of success.
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A lot of people in America and Europe feel that their governments are not representing them very much.