The Licensing Racket, and How to Fix It | Steven Davis, Rebecca Haw Allensworth | Hoover Institution

The U.S. occupational licensing system is riddled with problems and conflicts of interest. How can we fix it? Rebecca Allensworth joins Steven Davis to talk about her new book on occupational licensing, which covers one-fifth of all American jobs. Licensing reduces supply, limits competition, raises prices, and harms consumers, benefiting incumbent practitioners at the public's expense. The US approach to licensing is especially prone to conflicts of interest and poor performance. Professor Allensworth offers several proposals to fix the licensing system, and Davis offers his thoughts as well. ABOUT ECONOMICS, APPLIED Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.