Creative destruction 1946, not

Friedman (1951) thought the union wage premium was overstated because it can’t be as big as doctors’ extract from occupational licensing

Despite itself, @nzcomcom shows free entry into petrol supply because independents can import as much as they need

Amazon v. France

Why don’t duopolists just collude to replicate the monopoly price

Image

On the elimination of a permission slip from the government to practice medicine

Source: Quotation of the day on the elimination of a permission slip from the government to practice medicine….. – AEI | Carpe Diem Blog » AEIdeas

Who said mobile phone networks were not contestable?

image

Source: New Zealand Commerce Commission.

Numbers of days needed to start a business in high income countries

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Source: Historical Data – Doing Business- World Bank Group.

Number of procedures required to start a business in high income countries

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Source: Historical Data – Doing Business- World Bank Group.

Waiting for the permits to come in: business start-up fees and lost output waiting in Europe and North America

Expediting the processing of permits can actually make quite a difference to firm start-up costs even in countries with few barriers to starting up a business.

image

Source: Markus Poschke (2011) Entry regulation: Still costly | VOX, CEPR’s Policy Portal.

Note: The value of time is set to a business day’s output per day of waiting time at 22 business days per month.

Mises on "Wage Earners and Employers"

What % of each occupation needs a license or certificate in the USA?

The 2015 Current Population Survey in the USA added a question about whether you needed a licence or a certificate to practice your occupation. One in 4 Americans say they need a licence or certificate. 22.4% need a license and 3.1% need a certificate among employed over the age of 16 in the USA.

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Source: Bureau of Labour Statistics, Labor Force Statistics from the Current Population Survey (2015), Certification and licensing status of the employed by occupation Table 5.

This estimate of 25% is less than the 30% estimated by Kleiner and Vorotnikov (2015) using a Harris Poll. Kleiner and Vorotnikov (2015) also found that some American states regulate twice as many occupations as others. This diversity in federalism strains any public interest explanation of occupational regulation.

Occupational regulation is more likely to be an issue for those who finished further education. It would have been better if the estimate by the Bureau of Labour Statistics was for adults and not have included teenagers.

The purpose of occupational regulation is to protect buyers from quacks and lemons – to overcome asymmetric information about the quality of the provider of the service.

The main issue with quacks in the labour market is whether there is a large cost of less than average quality service, and is there a sub-market who will buy less than average quality products in the presence of competing sellers competing on the basis of quality assurance. This demand for assurance creates opportunities for entrepreneurs to profit by providing assurance of quality.

Mostly disciplinary investigations and deregistrations under the auspices of occupational regulation are for gross misconduct and criminal convictions rather than the shading of quality.

The cost of starting a business in Europe and North America

These measures including the full cost of starting a business. Not only are official fees included, the opportunity cost of the waiting times for various permits are issued are added as well.

image

Source: Markus Poschke, Entry regulation: Still costly | VOX, CEPR’s Policy Portal (2011).

Note: The value of time is set to a business day’s output per day of waiting time at 22 business days per month.

 

Governments and emergent technologies: faxes used to be illegal

Apple shouldn’t be doing this according to natural monopoly theory

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