Angus Deaton: Consumption, poverty and welfare by The Royal Swedish Academy of Sciences (RSAS) (2015). “The consumption of goods and services is a fundamental determinant of human welfare. The distribution of consumption among individuals has a bearing on many important issues – including inequality and poverty – in society’s economic, political and social domains. In most countries, aggregate consumption is the largest component of aggregate demand and, as such, accounts for much of the time variation in economic activity…”
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