I hope you enjoyed Halloween as much as my kids did! They dressed up as a mascot, a princess, and a clown.
But I wanted to let you know about something that’s much scarier than a Halloween monster – the way our government now intervenes in more and more areas of our economy, tamping down job growth and encouraging unemployment.
Sixty years ago, only 5% of the U.S. labor force required a government license. Today, 25% of American workers are required to have one. Although advocates of licensure say that it is necessary to protect the public, the evidence shows that occupational licensure often hurts the economy — damaging both consumers (who must pay higher prices) and workers (who are prevented from obtaining a job in a licensed field). That is why there is widespread agreement that policymakers should change course so as to create jobs by reducing the burdens of occupational regulation. This is such an important issue that we published an extensive paper on it: “Why Does Arkansas’s Government Kill Jobs and Discourage Honest Work?”