Angus Deaton wins the 2015 economics Nobel Prize for ''his analysis of consumption, poverty, and welfare''. Grace pascoe reports
And 2015's Nobel prize for economics goes... (SOUNDBITE) (English) ROYAL ACADEMY OF SCIENCES SECRETARY GENERAL, GORAN K. HANSSON, SAYING: "To Angus Deaton for his analysis of consumption, poverty and welfare." His work's had a major influence on policy making And is particularly relevant in a year when worldwide displacement is at an all time high. He addressed the migrant issue in his phone address to the Royal Swedish Academy of Sciences. SCREEN SHOWING DEATON'S PHOTOGRAPH/ (SOUNDBITE)(English) NOBEL ECONOMICS LAUREATE ANGUS DEATON SAYING: "What we're seeing now in some sense is the result of you know hundreds of years of unequal development in the rich world which has left a lot of the world behind and those people who have been left behind want to have better lives and that is putting enormous pressure on the boundaries between the poor world and the rich world." Deaton's spearheaded the use of household survey data in developing countries, to measure living standards and poverty. Data which should help the plight of refugees in the future. Mats Persson is a member of the Nobel Committee. (SOUNDBITE)(English) PROFESSOR OF ECONOMICS AND MEMBER OF NOBEL COMMITTEE, MATS PERSSON, SAYING: "In principle, in the future when we have data on the refugees, when we know what kind of people come here, what are their consumption patterns, what are their work patterns, then his methods could be used to illuminate the particular problems that the refugees have." Deaton holds dual British and American citizenship And is an economics professor at Princeton University. He wins 8 million Swedish crown or 978,000 U.S. dollars.