Home / US / Alan Krueger, famous economist, dies at the age of 58

Alan Krueger, famous economist, dies at the age of 58

Kruger served as Chief Economist in the Department of Labor under President Bill Clinton and Chairman of the Council of Economic Advisers from 2011 to 2013 under former President Barack Obama. He made a statement on Monday afternoon in which he praised Krueger's contributions to the recovery of the Great Recession.

"He saw economic policy not as a matter of abstract theories, but as a way to make people's lives better," Obama wrote. "He believed that facts, reason, and evidence could make the government more responsive, and his enthusiasm and curiosity were truly contagious."

Krueger also made a number of contributions to labor economics.

One of Krueger's most famous works in 1
993 was an article co-authored with the economist David Card, which challenged orthodoxy regarding the impact of the minimum wage. Through a natural experiment comparing out-of-state fast-food employment after New Jersey raised the minimum wage, the couple noted that the number of jobs did not fall, as classical economics would have assumed ,
The study and the subsequent book "Myth and Measurement" helped fuel the use of empirical measurements in the economy, rather than relying heavily on theory to predict the impact of policy measures.
"He believed that if you want to know the answer to something, you sometimes have to collect data yourself, which only a few economists do," wrote Jared Bernstein, who served as chief economist for Vice President Joe Biden. In a reminder to Krueger on Monday.
In recent years, Krueger has published from his post at Princeton influential work on the wages of Uber drivers, the impact of opioid abuse on labor force participation and the suppression of wages by franchisor franchisees from poaching workers from each other. He also published a book on the social and economic roots of terrorism, and his last book "Rockonomics" was a study of the economics of the music industry.

The news of his death prompted journalists, former colleagues and other economists on Twitter to receive honors and good memories.

"It's hard to believe that Alan Krueger is dead, he was a hero to me: a great economist, an exceptional civil servant and politician, a hellish mentor and teacher, and he was extremely pleased with everything he did and everyone he touched. " Justin Wolfers tweeted.
Lisa Cook, White House economist and assistant to Obama tweeted : "I can not believe that my friend, CEA colleague, and exceptional economist @Alan_Krueger has died His ability to study and communicate important economic data, questions and results was remarkable Peace of Quiet, Alan.
Jason Furman, who also chaired the Obama Council of Economic Advisers said: "Alan Krueger has taught me more than two decades in economic policy. His convincing empirical research on the most important issues is a lasting legacy. A devastating loss.

Princeton did not publish any information on the cause of death.

Source link