"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Occupational Licensing Harms Consumers and Producers
Submitted by Westernerd on Thu, 2017-08-03 02:00
Competition is not the only protection for consumers. The market is nothing if not a producer of information, including information about vendors. Reputation plays an important protective role. Note the prominence of seller ratings on eBay and other online markets. Nongovernment certification, such as that provided by the 120-year-old Underwriters Laboratories, is another way that markets protect consumers.
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