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Aug
31

Regulatory capture by the construction industry was one of the earliest forays of…

Regulatory capture by the construction industry was one of the earliest forays of government supported monopolists into the market.

Not the most powerful and not the first, but early.

One frequent effect of licensing regimes is that they stand in the way of transforming one’s skill into a source of income, and raise the cost of doing so. The result is that they raise the overhead cost of daily living by several orders of magnitude for the average person, so that (as Paul Goodman put it) decent poverty becomes impossible.

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George Washington vs. the Licensing Cartels
Carson: Licensing regimes, stand in the way of transforming one’s skill into a source of income, and raise the cost of doing so.

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1 comment

  1. bill camp says:

    forty years ago, the state of california was inundated by new varieties of healing practitioners.  this was a problem because the only legal ways you could touch someone for money were as a barber, massage therapist, hairdresser, dentist, or doctor.  these were already heavily licensed, but the new folks didn't want to get a massage license since that had nothing to do with their practice.

    so the state did an official study of the problem and its recommendation, amazingly, was to get out of the licensing business entirely, and let them do whatever they wished.  the legislators, in their wisdom, studied the report carefully and changed nothing.

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