Update 339 • In Memoriam • Prof. Alan Krueger Labor Economist Applied Actual Facts to Policy
Princeton Professor of Political Economy Alan Krueger passed away this weekend at the age of 58, leaving behind a breadth of work and critical thinking that challenged mainstream economic discipline and gave rise to a new form of applied empirical economics. He was also an architect of the post-2008 recovery we still enjoy. He was a collaborator with 20/20 Vision, providing invaluable feedback and insight that have informed our update perspectives.
Minimum Wage Paradigm Shift
Professor Krueger redefined minimum wage theory and policy. In 1993, one year before he served as chief economist at the US Department of Labor, he co-authored a research paper challenging the longstanding assumption that increases in the minimum wage inevitably lead to a rise in unemployment.
After New Jersey raised its minimum wage from $4.25/hr. to $5.05/hr. in April 1992, Krueger and co-author David Card surveyed over 400 fast food restaurants across New Jersey and neighboring Pennsylvania. They found that, despite New Jersey’s minimum wage increase, “full-time employment increased in New Jersey relative to Pennsylvania.”
Their work helped change the discussion around minimum wage legislation. Today, with unemployment at close-to-record lows, 29 states have minimum wages higher than the federal level — $7.25/hr. — and there is a nationwide push to raise the federal minimum to $15/hr.
Architect of Recovery in Obama Administration
Krueger was Assistant Secretary in the Obama Treasury Department, 2009-10, and chaired the President’s Council of Economic Advisers, 2011-13. In these positions, Krueger was an instrumental advisor to the President, serving as an architect of the post-recession recovery path and of policy relating to inequality and economic mobility issues.
Former president Obama said:
“He spent the first two years of my administration helping to engineer our response to the worst financial crisis in 80 years and to successfully prevent the chaos from spiraling into a second Great Depression. He helped us return the economy to growth and sustained job creation, to bring down the deficit in a responsible way and to set the stage for wages to rise again.”
A Life, Lived
Professor Krueger set an example for scholarship and service that was both publicly engaged and intellectually searching. He believed, simply, the truth of economics would serve people. And through him, it did. His principal economic collaborator said he possessed “headlights that went a lot further in the dark than anybody else.” That is a good metaphor for vision and we here at 20/20 Vision will miss him.
39 thoughts on “Update 339 • In Memoriam • Prof. Alan Krueger”
I’m curious to find out what blog system you have been utilizing?
I’m experiencing some minor security problems with my
latest blog and I would like to find something more risk-free.
Do you have any suggestions? asmr 0mniartist
I’m not sure exactly why but this site is loading very slow for me.
Is anyone else having this problem or is it a issue on my end?
I’ll check back later on and see if the problem still exists.
Hi everybody, here every one is sharing these
familiarity, therefore it’s fastidious to read this blog, and
I used to visit this web site every day. 0mniartist asmr
Hi there! I could have sworn I’ve visited this blog before but after browsing through many of the posts I realized it’s new to
me. Anyhow, I’m certainly delighted I stumbled upon it and
I’ll be bookmarking it and checking back frequently! 0mniartist asmr
Attractive part of content. I just stumbled upon your site and in accession capital to claim that I acquire actually loved account your weblog posts.
Anyway I will be subscribing for your augment or even I
achievement you get admission to persistently
fast. 0mniartist asmr
free chat online singles
personal ads free
When someone writes an article he/she maintains the thought of a user in his/her
brain that how a user can know it. Therefore that’s why
this post is outstdanding. Thanks!
Hi there! I could have sworn I’ve been to this site before but after going through some of the articles I realized it’s new to me.
Anyways, I’m definitely happy I discovered it and I’ll be book-marking it and checking back regularly!
Oh my goodness! Impressive article dude! Thank you, However I am going through troubles with your RSS.
I don’t know the reason why I cannot join it. Is there
anyone else getting identical RSS problems? Anybody
who knows the answer can you kindly respond? Thanks!!
Greetings! Very useful advice within this post!
It’s the little changes that produce the most significant changes.
Thanks for sharing!
tinder app , tinder app
Hello all, here every one is sharing these kinds of familiarity, thus it’s fastidious
to read this web site, and I used to visit this weblog every
I truly love your site.. Great colors & theme. Did you create this web site yourself?
Please reply back as I’m hoping to create my own personal site and want to know where you got this from
or exactly what the theme is called. Appreciate it!
Hello There. I discovered your weblog the usage of msn. This is a really neatly written article.
I’ll make sure to bookmark it and return to read more of your helpful information. Thanks for the post.
I’ll certainly return.
I every time emailed this weblog post page to all my contacts, as if
like to read it then my links will too.
I just like the valuable info you supply for your articles.
I’ll bookmark your weblog and test again here frequently.
I’m relatively certain I will learn plenty of new stuff right right here!
Best of luck for the next!
what is tinder , tinder sign up
browse tinder for free , tider
My spouse and I stumbled over here from a different website and thought I might check things out.
I like what I see so now i am following you. Look forward
to going over your web page yet again. scoliosis
Hi it’s me, I am also visiting this website on a regular basis, this web site is in fact good and the viewers are in fact sharing nice thoughts.
I’m truly enjoying the design and layout of your website.
It’s a very easy on the eyes which makes it much more
enjoyable for me to come here and visit more often. Did you hire out a designer to
create your theme? Outstanding work! scoliosis
I was suggested this web site by my cousin. I’m not sure whether this post is written by him as
nobody else know such detailed about my problem. You’re incredible!
Thanks! dating sites
Wow, this piece of writing is nice, my sister is analyzing these kinds of things, so I am going
to let know her.
I am curious to find out what blog platform you happen to be utilizing?
I’m experiencing some minor security issues with my latest blog and I would like to find something
more safe. Do you have any recommendations?
I just like the helpful information you supply
to your articles. I will bookmark your blog and take a look at again here frequently.
I’m rather sure I’ll learn a lot of new stuff proper right here!
Good luck for the next!
I’m gone to tell my little brother, that he should also go to see this blog on regular basis to take updated from hottest news.
Hello, this weekend is fastidious in favor of me, for the reason that this moment i am reading this great informative paragraph here at
When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added
I get three e-mails with the same comment. Is there any way you can remove me from
that service? Thank you!
Excellent post. I was checking continuously this blog and I am impressed!
Very helpful info specifically the last part 🙂 I care for
such info a lot. I was looking for this certain info for a
very long time. Thank you and good luck.
At this moment I am going to do my breakfast, once having my
breakfast coming over again to read further news.
This paragraph provides clear idea in support of the new users of blogging, that in fact how to do blogging and site-building.
Awesome! Its truly awesome piece of writing, I have got much clear idea about from this piece of writing.
Really appreciate you sharing this post. Want more.
I really liked your article.
radheshyam ramayan book pdf free download Ziro Facebook Gratuitement esperanto mormon book
Sous Titres Fran Ais Columbo Death Hits The Jackpot Payday 2 Casino Golden Grin Fr Parohiagirona
Roulette Elctronnique Casino Dur E D Un Coup Casinos Bonus Offert R100 Accepete Joueur Fran Ais Gateau Sport Geant Casino
Yesterday, while I was at work, my cousin stole
my iphone and tested to see if it can survive a 40 foot drop,
just so she can be a youtube sensation. My iPad is now broken and
she has 83 views. I know this is entirely off topic but I had to
share it with someone!
Hi! Someone in my Facebook group shared this site with us so
I came to give it a look. I’m definitely enjoying the information. I’m bookmarking and will be tweeting this to my followers!
Exceptional blog and terrific design and style.