I was gratified to learn that the Royal Swedish Academy of Science has awarded the Nobel Prize in economics to David Card of the University of California, Berkeley, for pioneering research that, among other things, debunks corporate rationale for keeping wages unrealistically low.
Card’s work shows that increasing the minimum wage does not hinder hiring and immigrants do not lower pay for native-born workers.
Over the last several years, and long before, workers have struggled to increase the minimum wage to realistic levels, only to be countered by corporate arguments that raising wages would mean job losses. What labor advocates knew in their gut has now been proven by Card’s empirical research.
Maine voters who approved minimum wage increases and those who rallied outside fast food outlets and big-box stores in support of paying workers a living wage have cause to take pride in Card’s award.