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Reforming occupational licensing in the US = reducing social costs and increasing social benefits in the legal, medical, and financial services professions /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Reforming occupational licensing in the US/ edited by Clifford Winston.
Reminder of title:	reducing social costs and increasing social benefits in the legal, medical, and financial services professions /
other author:	Winston, Clifford.
Published:	Cham :Springer Nature Switzerland : : 2024.,
Description:	xi, 169 p. :ill. (some col.), digital ; : 24 cm.;
Contained By:	Springer Nature eBook
Subject:	Professions - Licenses - United States. -
Online resource:	https://doi.org/10.1007/978-3-031-74349-8
ISBN:	9783031743498

Reforming occupational licensing in the US = reducing social costs and increasing social benefits in the legal, medical, and financial services professions /
Reforming occupational licensing in the USreducing social costs and increasing social benefits in the legal, medical, and financial services professions /[electronic resource] :edited by Clifford Winston. - Cham :Springer Nature Switzerland :2024. - xi, 169 p. :ill. (some col.), digital ;24 cm.

Chapter 1: Introduction -- Chapter 2: Can Deregulating the Legal Industry: Significantly Benefit American Society? -- Chapter 3: Is Deregulating the Medical Profession Just What the Doctor Ordered? -- Chapter 4: Balancing Flexibility and Integrity: Reforming Licensing in Accounting and Financial Advising -- Chapter 5: Conclusions.

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 customers are served by people who have received adequate training and certification in their profession. While there are recognizable benefits of occupational licensing, the training and certification requirements create barriers to entry for employees or those entering the profession. These barriers can limit competition, raise service costs, and restrict consumer access to essential services. Recent empirical work suggests that consumers have incurred these costs without being adequately protected from incompetent or unscrupulous service providers. This book addresses this situation head on. In light of occupational licensing's shortcomings, the authors of this book propose and analyze constructive reforms, assessing their effects on key professions such as law, medicine, and finance. Chapters identify the significant costs of current policies and they recommend practical reforms that rely more on market forces. The resulting book provides new ways to reduce licensing costs without compromising service quality. Clifford Winston is a senior fellow in the economic studies program at the Brookings Institution.

ISBN: 9783031743498

Standard No.: 10.1007/978-3-031-74349-8doiSubjects--Topical Terms:

1481189
Professions
--Licenses--United States.

LC Class. No.: HD3630.U7

Dewey Class. No.: 331.710973

Reforming occupational licensing in the US = reducing social costs and increasing social benefits in the legal, medical, and financial services professions /
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520 $a 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 customers are served by people who have received adequate training and certification in their profession. While there are recognizable benefits of occupational licensing, the training and certification requirements create barriers to entry for employees or those entering the profession. These barriers can limit competition, raise service costs, and restrict consumer access to essential services. Recent empirical work suggests that consumers have incurred these costs without being adequately protected from incompetent or unscrupulous service providers. This book addresses this situation head on. In light of occupational licensing's shortcomings, the authors of this book propose and analyze constructive reforms, assessing their effects on key professions such as law, medicine, and finance. Chapters identify the significant costs of current policies and they recommend practical reforms that rely more on market forces. The resulting book provides new ways to reduce licensing costs without compromising service quality. Clifford Winston is a senior fellow in the economic studies program at the Brookings Institution.
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