brandon: you should look at the state of economics before angus deaton and after augustine. losophy, we imagine what people might do when we build models around these assumptions of what those people might do. angus eaton is amazing with data. he looked at household survey data and he made 11 advances in econometrics, the study of how we use data. that sounds boring, but it's very important because people are different. you give the same economic stimulus to a population of people and different people, who have credit, who don't have credit, will respond differently. angus deaton is the forefather of looking at economics that way. more recently, he has been studying welfare. look at our, we guests. the other thing you pointed out as you can just look at the aggregates, how overall economic growth is doing. you have to look at how it is distributed among people, because that informs how people make choices. alix: isn't that like studying happiness? how do you quantify that? brendan: executive the right question. he is like the zen philosopher of economics. every time someone s

my conversation with angus deaton of princeton university.ferguson with his important book on the early years of henry kissinger. stay with us, worldwide, "bloomberg surveillance." ♪ tom: we welcome all of you worldwide, in new york city this morning. another police officer this morning. december 20 of last year, may 2 of this year, and now another officer gunned down last night. the fdr on the east side of the island of manhattan is closed from 96th to 125th street as commissioner bratton and the police force continues their investigation. i believe this is the fourth officer killed in recent months. a sad new york city this morning. news, let's other get to our business flash. here is vonnie quinn. vonnie: ferrari makes its debut on the new york stock exchange. shares begin trading once the market opens. it is raising nearly $900 million. a federal prosecutor in new york -- "the wall street journal" says rick for aro wants to know why draft kings violates federal law. a strategy shift by credit suisse. the swiss bank will raise $6 billion o

the most recent nobel prize winner, angus deaton again, the e eisenhower professor could we . move onto to another scsi. was that fun was aiming to -- listening to deaton? neil: one of the interesting things was him becoming a historian. tom: what is in the air in scotland? i go to attenborough and think of the wonderful buildings and that is that run down monument there. what is it about scotland that delivers a deaton or delivers a ferguson? neil: i do not claim to be in the same league as angus deaton but we would both agreed that scotland was one of the great intellectual events of all history. it produced a great deal of both economic history and economic history in the person of adam and david hume. although not much survives of the enlightenment in scotland in 2015. there was enough around when i was getting my education to inspire me to want to study. you bute seen more of in heathrow luggage. we are bouncing off of each other as you go on this tour with this acclaimed book. i love what they said in "the new york times" about henry down and being broken there is a revi

angus deaton is being awarded for his work in india. in the mets dodgers series. the mets are fusing after -- broke after a hard slide ruben tejada's leg. >> we are just minutes away from the opening bell in new york city. the offer for sab miller. the money behind it isn't giving up on this prospect as the deadline for a formal offer approaches just days from now. they officially raised their offer. offers a new official from ab inbev. sab miller has indicated they would like them to pay closer to 45 pounds per share. david barse is here. you mentioned that you are not paying close attention to this deal. how close attention do you pay to m&a at all? >> we tend to get most of our exits through resource conversion, which is what this transaction is likely to be. where there is a risk arbitrage opportunity, those are sometimes interesting ways to invest money. it is often a pretty good way to make a good return. is planning suisse up to $2 billion in cost cuts according to a swiss newspaper. it makes me wonder -- you are receiving servic

angus deaton worries about a world in which the rich get to write the rules.t down with tom keene to talk about his message. i think what happened in the late 1960's and then much more into the 1970's was the government started making available the household survey data but individual level data, the firm data that we did not used to have before. that was very exciting to try and work on that, on the methods we had did not work very well so it was a real feeling that i was in a fairly unplugged field, along with a bunch of other people, and we were having a lot of fun trying to find out how you look at individuals and how individuals can together to make -- of: this idea that we think data always being there, he really wasn't there just something like 1947. and then you had to move forward into the 1960's. you talked about, i love this phrase because i always flunked it in school, carefulness of measurement. what a lovely phrase. professor deaton, what is carefulness of measurement? >> it is being suspicious. it is not taking the numbers. we call them data, wh

angus deaton was recognized for his analysis of "consumption, poverty and welfare." oke to him a short while ago at princeton where he is a professor at the woodrow wilson school, professor deaton, thank you very much and congratulations. >> thank you, it's a pleasure to talk to you. >> woodruff: so you thought itm. >> i didn't think it was a prank call until they said it's not a prank call. but i hadn't really thought of it until that moment. but then maybe i thought maybe it was a prank call. but i recognized two of the people on the committee, so i'm sure that was a joke. and it certainly made us all smile, even early in the morning. >> woodruff: you were honoredfoc economic indicators. for people without don't know economics, explain why measuring things matters. >> well, i mean, i think we tend to take a lot of things for granted. i mean you know, the very word data means given. and yet most of the numbers we have are not given. they're produced by statistical offices, many of whom are under terrible budget pressure and threats and don't understand how important

angus deaton received the prize for his work on consumption, poverty and welfare.he royal swedish academy of sciences says deaton's research is greatly influenced both practical and policy making and the scientific communities. >>> the 69-year-old says he was surprised to get the phone call this morning. >> i've known for some time it was a possibility. i never thought it was a very likely event especially not in any given year. so, i was not lying in bed at 6 o'clock this morning thinking, ooh, that phone call should come in the next however long. [laughter] >>> so that's not what happened but i was awake, so, you know, i didn't have to pinch myself awake. (applause). >> nobel prize winner with a sense of humor. deaton becomes the fourth princeton faculty member to receive the nobody bell prize in economics in the last two decades. >>> coming up on "action news" tonight atlantic city police are searching for clues to track down the driver who struck a man this weekend. >>> jaime apody is live in south philadelphia for the flyers home opener tonight. jamie. >> jim,

angus deaton won the nobel prize in economics. his work changed how people understand poverty.t according to the nobel people. the honor also comes with a $975,000 prize from the royal swedish academy of sciences. the fourth princeton faculty member to receive the nobel prize in economics in the last two decades. >>> still to come on "action news" tonight, a big announcement for model teagan and her musical husband, john legend. >>> and the second time in months, a texas police station under investigation, and tonight we are hearing from the city docouncilman saying he is taser in his front yard. >>> and the fate of the minnesota dentist shooting and killing a beloved lion. >>> and i am tracking crowds and showers on the way by the coolest air of the season. the details in the accuweather forecast. >>> and the flyers hit the ice for the home opener and are living up to the spirit of that broad street. that and more when "action news" continues tonight. ♪ ♪ (vo) you can pass down a subaru forester. (dad) she's all yours. (vo) but you get to keep the memories. love. it's what mak

angus deaton is one of the leading experts on poverty and has done research in india, south africa, and other parts of the developing world. after being honored deaton says he foresees a decline in poverty but is concerned about upward trends in inequality. back to the preceding story there, i think the political uncertainty going into the election year also causes people to feel less confident economically. >> absolutely. they want to know who's going to be running the country. congress isn't getting a lot -- a lot of turmoil. >> on the horizon. >> i agree. that does it for "nightly business report" for tonight. i'm sue herera. thanks for watching. >> and i'm tyler mathisen. thanks from me as well. have a great evening, everybody, and we will see you right back here tomorrow night. ♪ announcer: "imagemakers" is made possible by the members of kqed. [ narrator coughs ]

angus deaton of princeton university is the winner of this year's nobel prize in economics.s recognized for his study of poverty in india and the fact --linked to health and rich in poor and rich countries. >> people keep congratulating me today and i keep thinking, or what -- for what? it takes a long time to sink in and hard to believe. have to pinch myself and wake up. i am slowly getting used to it. will scottish born deaton receive his award on november 10, on the anniversary of alfred nobel's death. claiming responsibility for shooting and killing an aid worker in kandahar. she was on her way to work when gunmen opened fire. earlier, nato released the nationalities of the people killed in a weekend helicopter crash at their base in kabul. the dead are identified as to british service members, two americans, and a french contractor. scotland yard is withdrawn the officers standing guard outside of the ecuadoran embassy in central london. they have orders to arrest wikileaks cofounder julian assange. the officers have been stationed there on 24-hour watch since assange s

a nobel prize making him the second person with ties to new jersey to get the owner this year, angus deaton won the nobel prize for his work and last week william campbell was the winner he was a professor at drew university for many years. campbell cannot believe when he got the call. >> i responded by saying, are you kidding? and then i called this person back of the number they had left to ask how i could verify that this news was true and this gentleman told me very kindly how i could verify which i did. so, i began to believe it. >> [ laughter ] >> the nobel prize is worth all that prestige and about $975,000 apiece. want to be handed out in december. there will be no plunking dr. campbell. >> it is just like a scholar to verify. >> verify the facts like a good journalist. >>> want to improve your mood and reduce your stress? open the refrigerator. the 12 foods that can do it, next. >>> and, airbnb a lot of the their homes. oh, stay on that one. [changes channel] sometimes it's hard to catch all your favorite shows. you're killing me, dad. give me that, please. with time warner cable's

yesterday, the nobel prize for economics went to a princeton professor named angus deaton, who has done extensive research into whether parents favor sons of daughters. he says he can't wait to accept the award, mostly so he can rub it in his sister's face. [ laughter ] [ applause ] take that, katie! and then finally, "game of thrones" has reportedly just finished up filming season six. and people who can't wait for that might want to check this out. they are about to release the official "game of thrones" coloring book later this month. so, if you're a kid who likes to watch "game of thrones," officials would like a word with your parents. we have a great show, everybody. [ cheers and applause ] give it up for the roots! [ cheers and applause ] >> jimmy: we got a big week of shows ahead. tomorrow night, vin diesel and selena gomez will be joining us. tomorrow night, right here. [ cheers and applause ] thenedn thursday, academy award winner tom hanks will be here. we're going to do a littleg - [ cheers and applause ] [ jibberish ] i don't have a tom hanks impression. [ jibberish ] every

angus deaton a professor of economics and international affairs received the prize for his work on consumptionoverty and welfare. he was born in scotland and holds both u.s. and british citizen ships. deaton says he had to pinch himself at the news this morning and thanked princeton everything it's done to support him and his vast body of work. >> i've always thought that i was unlike to win this prize because i've never really had a field and that i work in a lot of different things. i thought they did an amazing job this morning and i -- [laughter] >>> i sort of watched the video and i thought boy, so that's what i've been. [laughter] >>> -- all these years. >> and a sense of humor too. he's a princeton professor -- is the third princeton professor rather to win the nobel prize in economics in the last two decades. all three professors come from the school's woodrow wilson school of public and international affairs. so, congrats to his big day there, sharrie. >> he's brain knee and witty at the same time. thanks. >>> the first democratic presidential debate is one day away and many eyes are

the angus deaton morning must-read is on the state of capitalism.ate given the new low rate regime we are in right now? david: capitalism by and large is healthy. now and going forward. but there are some issues, and income distribution is an issue. we have seen worsening of the numbers, but it is very hard to find the right kind of measures to deal with that without introducing tremendous distortions. the analysis we have seen of it is fundamentally flawed. whatit does forget is that is reported in capitalist economies most is risk-taking. risk-taking in terms of startups, in terms of other things. tom: i don't know how you get to risk-taking with no risk-free rate. vonnie: we spoke to -- we spoke to christine lagarde last week. when asked what she would do to help over companies -- to help poorer countries is to include, not exclude, and educate girls. tom: the idea is the animal spirit of nominal gdp. what is nominal gdp in the united kingdom right now? ?hree francine: know, two and something. back -- david: and you look at what happened in the p

angus deaton is honored today for his work on consumption, poverty, and welfare. hiss best known for research on how individual consumers make choices. there is a look at our first word news. you can always find the latest news on bloomberg.com. betty? betty: vonnie, thank you. dell and emc have struck his $67 billion deal, the largest tech acquisition ever. will be a financial force in the tech sector. >> the coming together will create a powerhouse in the technology industry with morty $80 billion in revenue. it will be a leader in the number of the most attractive growth areas. betty: let's dive into the details of the deal with dan ives. alex sherman is in san francisco today for us who broke the story. alex, let's start with you on the details of this. why does this make sense? both of these companies are legacy tech companies whose main core businesses are not growing nearly as fast as they once were and they come together because they have complementary products. this is a method you have been hearing -- method you have been hearing from both of these compa

his name is angus deaton, award the though spell prize of economics. so on grcongratulations.e you up to speed on this? >> looking at the micro data to make macro points. >> he's optimistic that the strides we've made globally which have been substantial in reducing poverty is -- >> is this a shot of both me and you? i see. even though i'm right across the hallway. >> i didn't tell anyone i was going to talk to you. that's not the first time. anyway, angus is a u.s. citizen but born this scotland. >>> a new snapshot on the health of the u.s. economy -- oh, well, that's convenient. steve liesman joins us with the exclusive results of the cnbc all-america survey. >> nice to see you. you know, here is the deal. we've been doing this as becky pointed out for eight years thousand. and we've never asked the american public what they think about the federal reserve and low interest rates. so this is the first time that i think anybody has polled the america people what they think of low rates and here are the results. 800 americans polled across the country. first thing i want to do