3 US-Based Economists Win Nobel Prize for Societal Research

A U.S.-based economist won the Nobel prize for economics for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers.

  • Published
Permanent Secretary of the Royal Swedish Academy of Sciences Goran K Hansson, center, announces the 2021 Nobel prize for economics, flanked by members of the Royal Swedish Academy of Sciences Peter Fredriksson, left, and Eva Mork, during a press conference at the Royal Swedish Academy of Sciences, in Stockholm, Sweden, Monday, Oct. 11, 2021. From left on the screen above are the winners David Card of the University of California at Berkeley; Joshua Angrist from the Massachusetts Institute of Technology; and Guido Imbens from Stanford University. (Claudio Bresciani/TT via AP)
Image via AP Photo/Claudio Bresciani

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

STOCKHOLM (AP) — A U.S.-based economist won the Nobel prize for economics Monday for pioneering research that showed an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers, challenging commonly held ideas. Two others shared the award for creating a way to study these types of societal issues. Canadian-born David Card of the University of California, Berkeley, was awarded one half of the prize for…

Read at AP News