106 Quotes by Angus Deaton

Averages are no consolation to those who have been left behind.

Globalization gives workers in Asia better access to rich-country markets than ever before, and they can do many of the jobs that used to be done in the rich countries, even without being able to migrate. If this happens on a large scale, Asian wages will rise, and American and European wages will fall, narrowing earnings inequality in the world as a whole. The.

One escape route from this negative conclusion is to argue, once again, that progress is being understated because quality improvements and new goods are not being adequately captured in the statistics. That would mean that inflation is being overstated, because some of the increase in prices comes from better things, not just from dearer things. If so, the poverty line is being increased too fast, and an ever-increasing proportion of the poor are not poor at all. If.

To worry about these consequences of extreme inequality has nothing to do with being envious of the rich and everything to with the fear that rapidly growing top incomes are a threat to the wellbeing of everyone else.

If poverty is not a result of lack of resources or opportunities, but of poor institutions, poor government, and toxic politics, giving money to poor countries – particularly giving money to the governments of poor countries – is likely to perpetuate and prolong poverty, not eliminate it. The.

It can be bad if the winners try to stop others from following them, pulling up the ladders behind them.

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.

International cooperation is vital to keeping our globe safe, commerce flowing, and our planet habitable.

Foreign aid, especially when there is a lot of it, affects how institutions function and how they change.