Leading expert on labor economics, particularly on the minimum wage's effects on employment, and a former Chairman of the White House Council of Economic Advisers.
Alan Krueger, a renowned American economist, is best known for his pioneering work on the minimum wage, which debunked the long-held notion that increasing the minimum wage leads to higher unemployment. Through his innovative use of natural experiments, Krueger's research has had a profound impact on our understanding of the labor market and its effects on inequality.
Krueger grew up in a Jewish family in Livingston, New Jersey, and graduated from Livingston High School in 1979. He went on to earn his B.S. from Cornell University's School of Industrial and Labor Relations, and later received his M.A. and Ph.D. in Economics from Harvard University in 1985 and 1987, respectively.
Krueger's academic career spans over three decades, with notable stints at Princeton University, where he held the Bendheim Professorship in Economics and Public Affairs and the James Madison Professorship in Political Economy. His most significant contributions lie in the development and application of natural experiments to study the effects of education on earnings, the minimum wage on employment, and other issues.
Krueger's work is characterized by a commitment to evidence-based policy making and a willingness to challenge entrenched views. His research emphasizes the importance of understanding the complexities of the labor market and the need for nuanced policy solutions.
Krueger's research has had a significant impact on modern society, informing policy decisions on the minimum wage and influencing the debate on income inequality. His work has also inspired a new generation of economists to think creatively about economic problems.
Krueger's contributions to economics have been recognized with numerous awards and honors, including his appointment as Assistant Secretary of the Treasury for Economic Policy and his nomination as chair of the White House Council of Economic Advisers.
Krueger's passing in 2019 marked the end of an era, but his work continues to shape our understanding of the labor market and inform policy decisions that affect millions of people around the world. His legacy serves as a testament to the power of economics to drive positive change and improve people's lives.
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