David Card, winner of the 2021 Nobel Prize in Economics, is Class of 1950 Professor of Economics at the University of California, Berkeley. Alan B. Krueger is Bendheim Professor of Economics and Public Affairs at Princeton University.
"The Card-Krueger work is essentially correct: the minimum wage at
levels observed in the United States has had little or no effect on
employment. At the minimum, the book has changed the burden of
proof in debates over the minimum, from those who stressed the
potential distributional benefits of the minimum to those who
stress the potential employment losses."---Richard B. Freeman,
Journal of Economic Perspectives
"Card and Krueger didn't just question the conventional wisdom;
they attacked it in a novel and powerful way. Instead of concocting
a mathematical model and `testing' it with advanced statistical
techniques, which is what most economists call research, they
decided to test the theory in the real world. . . . The work of
Card and Krueger was worth a hundred theoretical models in The
American Economic Review."---John Cassidy, The New Yorker
"David Card and Alan Krueger have written a book that represents a
phenomenal amount of careful and honest research and that will be a
classic in the minimum wage literature and also in the broader
field of empirical labor economics.... A model of how to do good
believable research, this book will be influential for a long
time."---Paul Osterman, Industrial and Labor Relations Review
"Clearly, this book should be read by any economist who wants to
stay abreast of substantive, high level debates within the
profession.... The book already has assumed an important position
within the field of labor economics, and significant research in
years to come is likely to revolve around its principle
thesis."---K. A. Couch, Journal of Economics
". . . the nastiest, most unspeakable perversion of our
service-based economy [is] the declining value of the minimum wage.
. . . The downward pressure on wages is making this a country where
working literally doesn't pay. . . . David Card and Alan Krueger
show through meticulously assembled data that increasing minimum
pay in the fast-food industry has no discernable effect on the
number of jobs, on consumer prices, or even on employee benefits
like free meals. . . . Labor markets, like so many other phenomena
in the real world, are far from perfect and do not behave according
to the theories of defunct economists."---Joe Conason, The New York
Observer
"Myth and Measurement . . . traverses its ground in great detail,
studying every bump and dip in the landscape. . . . But that's just
about what the issue requires. Card and Krueger's conclusion runs
so against the grain of mainstream economic thinking, not to
mention the present political consensus, that overkill seems quite
appropriate. That conclusion, reached through a number of separate
studies, is this: The minimum wage not only doesn't kill jobs, it
may even stimulate employment. . . . Myth and Measurement should be
a very important book. It essentially settles the policy debate on
the minimum wage, and the economics profession should spend a good
bit of time engaging in profound reflection and in testing some of
the field's first principles."
*Voice Literary Supplement*
"Card and Krueger have written a powerful book underpinned by hard
facts. . . . They explode myths and indict the prescriptions of
conventional economic thinkers. Few will read this book from cover
to cover, but many will quote its conclusions in the months to
come."
*New Statesman and Society*
"A very substantial book. . . . A highly persuasive collection of
evidence. . . . An exemplary book."---J.W. Anderson, The Washington
Post
"Myth and Measurement may well be the most important labor
economics monograph of the 1990s."---Ronald G. Ehrenberg,
Industrial and Labor Relations Review
"This book offers the most careful and wide-ranging analysis of the
empirical evidence on minimum wages in the United States that any
social scientist could ask for."---Richard B. Freeman, Industrial
and Labor Relations Review
"Although this book raises very sharp questions about the practice
of labor economics, the book itself is terrific. CK's creative
careful, and above-the-board empirical work is a model of how to do
good believable research and this book will be influential for a
long time."---Paul Osterman, Industrial and Labor Relations Review
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