This Year’s Nobel Prize Is Going To Change Everything... | Economics Explained

The video discusses the Nobel Prize in Economics awarded to David Card, Joshua Angrist, and Guido Imbens for their contributions to labor economics and causal analysis. It highlights the importance of practical applications in economics, the history of the Nobel Prize, and the creation of the Riksbank Prize in Economic Sciences. The video also addresses challenges in awarding Nobel Prizes and details Card's research on minimum wage and employment, as well as Angrist and Imbens' methodological advancements in understanding causal relationships.

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