David Card (Guelph, 1956 -) is a Canadian-American labor economist, professor of economics at the University of California, Berkeley. In 2021, he was awarded the Nobel Prize in Economics for “his empirical contribution to labor economics” (shared with Joshua Angrist and Guido Imbens).
His scientific work
In the early 1990s, Card received much attention for his finding with his then-Princeton college colleague, Alan B. Krueger, that contrary to popular belief among economists, the New Jersey minimum wage increase did not result in job losses for fast food companies in the state. Although the methodology and results of the research have been debated by some, many economists, including Joseph Stiglitz and Paul Krugman, accept Card and Krueger’s findings.David Card has also made a fundamental contribution to research on immigration, education, job training, and inequality. Much of Card’s work focuses on comparing the United States and Canada in different situations. Regarding immigration, Card’s research has shown that the economic impact of new immigrants is minimal. Card has conducted several case studies on the rapid assimilation of immigrant groups and found that immigrants have little or no effect on wages. In an interview with The New York Times, Card said, "Honestly, I think economic arguments [against immigration] are secondary. They're almost irrelevant." Although Card occasionally researches highly political issues, he does not publicly take a position on political issues or make policy proposals. Nevertheless, his work is regularly cited to support immigration and raising minimum wage legislation.
Card earned a bachelor’s degree in economics from Queen’s University in 1978 and a doctorate in economics from Princeton University in 1983 after completing his doctoral dissertation entitled “Indexation in Long-Term Employment Contracts” under the supervision of Orley Ashenfelter.
Card began his career at the University of Chicago Graduate School of Business, where from 1982 to 1983 he was an assistant professor of business economics. From 1983 to 1997 he was a professor at Princeton University and then transferred to the University of Berkeley. Card was co-editor of the Journal of Labor Economics from 1988 to 1992 and co-editor of Econometrica from 1993 to 1997. From 2002 to 2005, he was co-editor of The American Economic Review.
In 1995, he received the John Bates Clark Medal, "awarded to the American economist under the age of forty who made the most significant contribution to economic thinking and knowledge." In 2009, he gave a lecture by Richard T. Ely of the American Economic Society in San Francisco. According to a 2011 survey of professors of economics, Card is their fifth favorite living economist in 60 years. In 2014, along with N. Gregory Mankiw, he was elected vice president of the American Economic Society.
Together with Richard Blundell, he received the 2014 BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category, according to the jury’s justification “for their contribution to empirical microeconomics”. "Motivated by important empirical questions, appropriate econometric models have been developed and estimated, making a significant methodological contribution. Both are known for their attention to institutional detail, careful and innovative research design, rigorous use of econometric tools, and passionate communication of results.