Nothing Crushes Your Standard of Living Like Government

in #leofinance24 days ago (edited)


There are thousands of occupational licensing rules that have been established which seek to restrict everyday life and activities all around the market.

It is the people who are the ones who suffer as a result of this. They are victims of this violence and restriction, and because of the government interference are going to end up getting lower quality of goods, higher prices, fewer options, less opportunity all around, and a decreased standard of living.

1 in 5 Americans require an occupational license to get a job and work these days.

This over-licensing within various industries is effectively killing jobs, millions of them, and could easily be stunting progress and innovation as a result.

Previous investigations have found that these occupational licensing rules are possibly keeping at least 2 million jobs out of the economy every year. It hurts everyone, and most of the rules are arguably about reducing competition and are not about justified safety concerns.

Licensing is what can easily keep someone out of working within an industry that they are passionate about and gifted to work in. They might provide a product or a service that someone would value and want in the community, but the government prevents them from offering that value and engaging in that exchange until they've gone through and met certain requirements.

Occupational licensing comes at the expense of freedom and opportunity.

It takes away opportunity from those who need it most, reducing options for those in poverty to do better for themselves and make more for themselves and their families.

The state just makes it harder for you to climb and work your way up. Why do they do it? Well, safety is always the reason. But why not let the customer decide where they get their goods and services from, rather than the government stepping in to decide for them? As it turns out, customers have been shown to care more about prices and customer reviews than about any government credential.

Occupational licensing restricts wage growth.

Occupational licensing restrictions have been shown to depress wage growth and that isn't any surprise.

For occupations in states that have some of the lowest growth for earnings between 2016 and 2019, you'll find that these are the same states with more licensing restrictions than others.

If the government or its representatives were at all concerned about the welfare of the people then they wouldn't insist on placing a boot on the throat of those who are just trying to peacefully serve their communities and make a better life for themselves.

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