Nobel Prize-winner Angus Deaton explains the relationship between economic growth, inequality, and human wellbeing.

Over the past 250 years, the world has made significant progress in terms of human wellbeing.

On average, we are happier, have more control over our lives, and live longer.

This is largely due to economic growth and some major scientific discoveries.

However, not all parts of the world are developing at the same rate, and large portions of the world's population are still living under very harsh conditions.

Angus Deaton is the Dwight D. Eisenhower Professor of Economics at Princeton University and 2015 winner of the Nobel Memorial Prize in Economic Sciences.

The author is a world-renowned expert on economic development, welfare, health inequality, and poverty.

Published in 2013, The Great Escape: health, wealth, and the origins of inequality, explains how different parts of the world have progressed in the last two and a half centuries, and how this progress has led to huge inequalities in health and wealth.