Another reason to decriminalize work
Let's make everyone richer
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In my last post on banning occupational licensure requirements I pointed out that it would get men into work and lower prices for hundreds of services. According to one estimate, licensure requirements raises prices for licensed services by 3-16%.
One thing I didn’t think of, that now seems obvious in retrospect, is that it would also grow the economy and make everyone richer.
That’s the finding from a new report from the Common Sense Institute of Arizona. In 2019, Arizona became the first state to recognize all licenses from other states. Researchers found this move will likely:
Increase employment in Arizona by at least 15,991 workers over the next decade.
Increase Arizona’s population by 44,376 persons by 2030.
Increase Arizona Gross Domestic Product by at least $1.5 billion.
As of 2019, almost half, (44 out of 102) moderate-income occupations require a license. According to a Bureau of Labor Statistics survey, nearly 22% of US workers had an occupational license. In 1950, that number was just 5%. Since 1950, economic mobility has declined while costs have risen precipitously with no commensurate increase in the quality of services.
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Yes, licensure reform would certainly produce a lot of positive benefits. Why should say a massage therapist need anything more than a business license and maybe an occasional health inspection? The market can sort the good from the inept and a lot more people can get the benefits of the profession at a lower cost. Sounds simple.
Trying to explain the benefits to people and you get a blank stare. It’s remarkable how resistant to change people and institutions can be — even when the change promises to relieve an obvious problem and produce positive outcomes.