Natural Experiments and Nobel Prize in Economy

Natural Experiments and Nobel Prize in Economy

The 2021 Nobel Prize in Economic Sciences, went to three economists who are U.S Based.

This made the topic of ‘Natural Experiments’ more interesting.

I am sure a lot of people will be curious to know about “Natural Experiments”

Is it the end of the road? For the Argument of “high minimum wages” and its effects?

Maybe not!!

At least as per the research, it looks like high minimum wages definitely will be not the crucial factor for a company to fall down.

Common sense to believe Natural experiments need not be true for all contexts.

As such, each economy operates with certain cultural baggage, skill sets, political situation, Governance provided by the Government, Corporate Governance, etc. However.

if we think for the long term. The research will help companies increase minimum wages to reduce inequality in the world.

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