David Card - Economist known for minimum wage studies

David Card is a prominent economist recognized for his research into the effects of minimum wage on employment. His pioneering studies challenged the traditional belief that raising the minimum wage leads to job losses. Instead, Card's work demonstrated that, in some cases, increasing the minimum wage did not negatively impact employment levels. This controversial finding has shifted the conversation around labor markets, influencing policy decisions and sparking further research. Card's contributions have earned him significant acclaim, including the Nobel Prize in Economic Sciences in 2021, highlighting the importance of empirical research in understanding economic phenomena.