Our Guild-Ridden Economy: Issues and Possible Solutions

Morris M. Kleiner

No 15-9, Economic Policy Paper from Federal Reserve Bank of Minneapolis

Abstract: The growth of occupational licensing in the United States has resulted in higher labor costs, restricted services and other economic distortions, with relatively limited benefits in practice quality. This essay describes the state of such licensing, discusses pros and cons of the practice, and suggests several proposals to improve the current situation.

Pages: 5 pages
Date: 2015-12-22
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