David Edward Card (born 1956) is a Canadian-American[4] labour economist and the Class of 1950 Professor of Economics at the University of California, Berkeley, where he has been since 1997.
[13] In the early 1990s, Card received much attention for his finding, together with his then Princeton University colleague Alan B. Krueger that, contrary to widely accepted beliefs among economists, the minimum wage increase in New Jersey did not result in job reduction of fast food companies in that state.
[24] They were dissatisfied with the existing approach that was used to evaluate minimum wage and employment, instead desiring natural experiments that would provide stronger evidence on the topic.
[25] Myth and Measurement is a monumental economic work, which contains two primary conclusions, minimum wage does not necessarily adversely influence employment and a need to establish new models that are applied to the low-wage market.
[29] Finally, Card believes that this work will greatly influence economic research in two manners, establishing prespecified conditions and the importance of firm-level microdata.
Card concludes the work through emphasizing the importance of empirical research to create a more complete understanding of the low-wage market.
[32] He has received along with Richard Blundell the 2014 BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management category for "their contributions to empirical microeconomics," in the words of the jury's citation.
"Motivated by important empirical questions, they developed and estimated appropriate econometric models, making significant methodological contributions in the process.
Both are known for their attention to institutional detail, careful and innovative research design, rigorous application of econometric tools, and dispassionate reporting of results.
[34] He won the Nobel Memorial Prize in Economic Sciences in 2021 for research showing that an increase in minimum wage does not lead to less hiring, and immigrants do not lower pay for native-born workers.