Business

Top economists weigh in on minimum wage

Nobel Prize-winning economist Joseph Stiglitz (second from right), spoke during a panel discussion he shared with (from left) Rebecca Blank, Alan Krueger, and Robert Solow at MIT’s Ray and Maria Stata Center Thursday.
Nobel Prize-winning economist Joseph Stiglitz (second from right), spoke during a panel discussion he shared with (from left) Rebecca Blank, Alan Krueger, and Robert Solow at MIT’s Ray and Maria Stata Center Thursday.Credit: Pat Greenhouse/Globe Staff

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Fast-rising rates of economic inequality in the U.S. and poverty reduction policies were the subject of a day-long colloquium at MIT Thursday featuring several top U.S. economists.

A higher minimum wage was a favorite topic by a panel that included two former advisors to presidents. Princeton University economics professor Alan Krueger, chairman of President Obama’s Council of Economic Advisors until August, said national efforts to increase minimum wage currently stand a “decent chance” of success.

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