Nobel Prize in Economics Shared by Card, Angrist, Imbens

The video discusses the contributions of Nobel Prize winners like David Card and Alan Krueger in the field of minimum wage research. It highlights their empirical work from the 1990s, which challenged traditional economic models by showing that raising minimum wages does not necessarily harm businesses. The discussion extends to the role of dominant employers like Amazon in local labor markets, emphasizing their influence on wages and working conditions.

What is the significance of the work done by David Card and Alan Krueger in the context of minimum wage?

Discuss the relationship between minimum wage increases and business outcomes as suggested by the text.

What role does empirical research play in understanding the effects of minimum wage policies?

How do dominant employers like Amazon influence local labor markets?

What are some potential problems that arise from the bargaining power of large employers over workers?