An award for certainty

Economics Nobel laureates this year have clear answers

The Nobel Prize for Economics was awarded on Monday to three economists based in the United States of America: David Card at the University of California Berkeley, Joshua Angrist at the Massachusetts Institute of Technology, and Guido Imbens of Stanford University, for their contribution to advancing the methods of economics. Professor Card’s Nobel citation noted his work in the field of labour economics in particular; with the late Alan Krueger, he had exploited differential approaches to minimum-wage legislation in two neighbouring states of the US to show that — contrary to the expectations of economic theory — raising the minimum