angus deaton is the forefather of looking at economics that way.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 says what is the answer he will come back and look at the data and say what is the question? he had a paper that says a lot of people who don't have children on average are happier who people who are with children. a subjectknow that's near and dear to the hearts of everyone at this table. but he looked at the data and how was pulled together and he said there might be something going on here, which is people who might be happier with kids have them in people who might not be happier with kids don't. the question is important. scarlet: brendan greeley, thank you w

tom: professor deaton, thank you so much.ost recent nobel prize winner, angus deaton again, the e eisenhower professor could we . we now 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.

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,

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

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

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 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

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. ♪ father palfreyman: through your goodness we have this bread to offer, which earth has given and human hands have made... and it will become for us the bread of life. seminarians: blessed be god forever. let us pray, brethren, that our sacrifice may be acceptable to god, our almighty father. seminarians: may the lord accept the sacrifice in your hands for the praise and glory of his name...

nobel prize winning economist angus deaton.e schools under fire for suspending very young students. and, an n.b.a. player returns to his native congo to help provide opportunities to former child soldiers. but first, we take a closer look at what's driving many syrian refugees to risk their lives by attempting the journey to europe. syria's neighbor, jordan, has taken in more than 600,000 refugees over the past four years, and has quite literally been buckling under the strain on its scarce resources, and a massive drop in international aid. the refugees themselves are the hardest hit there and tonight, special correspondent jane arraf introduces us to a few of them who are willing to risk everything to leave. >> reporter: every evening ali goes out with his daughters and son hassan. it's not for the fresh air. its illegal for most syrian refugees to work in jordan. in the daytime he tries to find odd jobs without getting arrested. to help put food on the table, at night he looks for soda cans to sell and broken appliances to r

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

deaton says he had to pinch himself at the news this morning and thanked princeton everything it's doneo 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 still on vice president joe biden. at this point he does not plan to take part in tomorrow night's debate but speculation is still swirling about whether he will actually run. "action news" report

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

deaton was recognized for his studies of poverty in india.9-year-old will receive his award december 10, the anniversary of alfred noble's -- nobel's death. back to you. scarlet: thank you so much. let's get a quick recap on how markets closed. we are only talking about equities. some modest gains to keep the rally going, then volume -- thin volume. trading down about 30% below average. we want to bring in tracy alloway. you have been looking at copper, which everyone uses as a proxy -- it has become a proxy for china. tracy: that is kind of fair to say. we have a lot of debate right now about the actual work of copper. floors me that we are still -- it floors me that we are still discussing this three or four years on. we are still trying to gauge how much chopper -- copper there is in the world. this is one of my all-time favorite financial stories. a bunch of commodities traders were using copper as collateral to secure loans. to a large extent, we have estimates from the bank for international settlements saying that this was as much as $

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

. >> reporter: deaton is sixth scholar affiliated of princeton to win the noble prize to economics. >>> many are celebrating columbus day throughout our rejoin an in fill at special ceremony. state lodge of the pennsylvania and order sons of the italy in america commemorated italian explorer christopher columbus by laying wreathing at columbus monument at penns landing. italian consul, andre a in attendance as city celebrates italian american heritage month. >>> coming up on cbs-3 "eyewitness news", wild weather caught on cameras take a look at the waterspout sweeping across the bridge and tears through a mail truck. >>> live secrets and scams you may tell yourself it could never happen to you or your family but don't be so sure. consumer reporter jim donovan tells us just how many ways scam artists are targeting older americans and what you can do bit. >>> we all know with reserve parking for handicapped and expecting mothers but what about our vets. cleve bryan, coming up, i'll show you an effort to get practical help and recognition to our wounded warriors. ♪ it's the final countdo

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

recent anuches on the gus deaton. madison looking at medieval times.d looking at dd oplingng -- at the depe of china p has to stop if you want societal pop. >> there has been some expectation that this might happen. i think it is a huge deal. years to play 20 out. china is the second largest economy in the world and in 10 years will be the largest. now potentially even larger with this. a real positive. jonathan: they are dealing with the reality and the legacy of the one child policy. the first question that springs to my mind is is this too little, too late? the reality of a previous policy is going to bite in the next decade? richard: demographics are powerful but it takes decades to play out. i think that will be true in china's case as well. in a lot of countries there is another dimension, the approach to immigration. one challenge japan faces is because of policies and cultural issues discouraging immigration -- in the u.s. we have our own challenges. tom: "the new york times" about italy, closeg of to no population growth. you mentioned japan.

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

a anguk deaton won the prize.sor at princeton university. >>> iraq releasing footage of iraqi jets carrying out air strikes targeting isis facilities, most of the strikes were in ramadi but also north and west of the capital of baghdad. >>> southwest says it expects its technical systems to perform normally today after glitches led to some 500 delays on sunday. it had reported problems that prevented some customers from checking in online for flights and also booking new travel. it caused a lot of long lines at the airport. >>> a parade of james bond cars drove along on sunday. the latest vehicle driven by the spy, the ashton martin db10. the 24th james bond film is scheduled for release in the u.s. next month. that's the cnbc news update this hour. let's go back to you guys at the nyse. >> a two-seater to boot. >>> a recent financial turmoil has made people in this country more negative in their outlook to the stock market. steve liesman is back at hq with the exclusive results from the cnbc all america survey. g

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