Episode 248: The Nobel Prize and the Minimum Wage

David Card recently won the Nobel Prize in economics for his contributions to the study of labor markets and natural experiments. Some minimum wage proponents confuse these excellent contributions with a particular application of his contributions to a study he conducted of a hike in New Jersey’s minimum wage. We discuss the flaws in that oft-cited study, and the distinction between his contributions and the study.

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Topic of the Week

https://davidcard.berkeley.edu/papers/njmin-aer.pdf