Alan Krueger, a groundbreaking Princeton University economist who served as a top adviser in 2 Democratic administrations, has died, according to a statement from the university.
Alan Krueger, chairman of the Council of Economic Advisers, speaks during a briefing at the White House on Nov. 26, 2012.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.Alan Krueger, a groundbreaking Princeton University economist who served as a top adviser in two Democratic administrations, has died, according to a statement from the university.
Krueger had been teaching at Princeton since 1987. His research extended to such issues as economic inequality and the consequences of opioid addiction for the job market. While serving under Obama, he developed and popularized the concept of the"Great Gatsby Curve." It showed that high economic inequality corresponds with low economic mobility on a generation-to-generation basis. In short, it meant that when economic disparities between the rich and everyone else are wide, people's ability to improve their financial health depends even more heavily on their parents' economic status.
But Krueger was perhaps best-known for his research on the minimum wage with David Card. Their 1993 paper found that a rise in New Jersey's minimum wage had had no effect on employment in the state's fast food sector compared with the same sector just across the state line in Pennsylvania.
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