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Canadian economist wins a Nobel Prize

  David Card
 
David Card, The Sveriges Riksbank Prize in Economic Sciences 2021. (Illustration by Niklas Elmehed, Nobel Prize Outreach)

David Card, a Canadian economist born in Guelph, Ontario, has won the 2021 Nobel Prize in Economics “for his empirical contributions to labour economics.”

His studies in the early 1990s challenged conventional wisdom and showed that an increase in minimum wage does not lead to less hiring and immigrants do not lower pay for native-born workers.

Card, 65, who is currently a professor at the University of California at Berkeley, thought he was the target of a friend’s prank when he received a phone call telling him that he had won a Nobel Prize.

David Card will receive half of the $1.43 million CAD prize and the other half will be awarded jointly to American professor Joshua Angrist, and Dutch professor Guido Imbens “for their methodological contributions to the analysis of causal relationships.”

The 2021 Nobel Prizes will be awarded in Stockholm, Sweden on December 10.