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  • About
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    • ECON 2301-Princ of Macro
    • ECON 2302-Princ of Micro
    • ECON 3352-Energy Eco

What's Up With Occupational Licensing?: LPP EP 36

9/4/2018

 
In this Let People Prosper episode, I discuss the issue of occupational licensing how burdensome it is for many workers while many of the licenses provide little consumer protection from health, safety, and welfare concerns. This issue was in TPPF's daily newsletter "The Cannon," which I recommend that you subscribe.

In fact, licenses often result in being a barrier to entry for many people wanting to join a licensed occupation, creating a situation where there are costs to consumers, workers, and society at large. This makes licenses the most burdensome labor market regulation in spite of the reasoning for them being from a market failure of asymmetric information.

Often, market failures aren't failures at all but rather the resulting costs are from government failures, which another case for this is with occupational licensing. The case of Bastiat's teh seen versus the unssen.

Instead, more information to consumers and lower barriers to entry for workers would provide an efficient market that doesn't misallocate workers and cost consumers and society in the process.

I discuss recommended solutions that I mentioned in my recent testimony before the Texas Senate Business and Commerce Committee (watch my testimony here starting at 37:45 and read my written testimony here). There was a great discussion among the panelists and legislators about occupational licensing and what you should be done about them.

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    Vance Ginn, Ph.D.
    Chief Economist
    ​TPPF
    ​#LetPeopleProsper

    Dr. Ginn is a free-market, classical liberal economist with  a passion for providing abundant opportunities for people to prosper, which includes promoting policy rules and removing government barriers.

    He grew up in South Houston, Texas where he attended private school, public school and home school, was a hard rock drummer, and was a first generation college graduate from Texas Tech University.

    Dr. Ginn's a recovering academic and a public policy nerd. 

    Follow me on Twitter: @vanceginn. 

    View my profile on LinkedIn

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