Reforming Occupational Licensing in the US: Reducing Social Costs and Increasing Social Benefits in the Legal, Medical, and Financial Services Professions

Nearly one-third of US workers must obtain a license from a government agency to perform their jobs legally. This impacts employees across all areas, including lawyers, doctors, and accountants, as well as florists, hairdressers, physical therapists, and plumbers. The justification for occupational licensing is that potential consumers allegedly lack the information and knowledge to judge the competence of a service provider. This necessitates a licensing system built to ensure that custome...