Advocates of occupational licensure argue that it protects the public interest by excluding incompetent and unethical individuals from sensitive jobs. This is certainly the case in some fields, such as health care — but in general, research reveals weak evidence that licensure confers a tangible benefit on public safety or the overall quality of services provided to consumers. What it mainly does is increase costs: Kleiner estimates that licensing increases prices 5 to 33 percent, depending on the occupation and geographic location.
One thing that is not in it is the poem by Emma Lazarus, which is on the Statue of Liberty. Nothing in the Law of the Land requires the U.S. to freely admit “the wretched refuse of your teeming shores”—or requires U.S. citizens to feed and provide housing and medical care for them. The load could crush our system, starting with the medical system.
Personal choice and freedom of association are two fundamental and essential principles of any truly free society, and this includes a free market workplace. Unfortunately, the Obama Administration is spending taxpayer dollars to undermine those principles in other countries around the world.
America has the resources to be the world’s number one producer of oil, natural gas, and coal. The development of these mighty energy industries would be the backbone of renewed booming economic growth and prosperity for the United States.
Imagine you have been wrongfully arrested, charged with murdering a child. Although the evidence against you is vague, authorities are anxious to appease those demanding justice so your case is rushed to trial. Your lawyer decides that, considering public sentiment, it is best to plead guilty and throw yourself at the mercy of the court.
More than 3.1 million workers across the nation received a late Christmas gift on Jan. 1, when minimum wages were increased in 21 states. Although the mandated wage hike was welcomed by many workers, they will soon find that their new pay raise will cause more harm than help.
In 1811, British factory workers literally “fought the machine,” protesting against technology under the banner of mythical figurehead King Ludd. Upset about being replaced by more efficient machinery, cost-ineffective factory workers rebelled against the installation of threshing machines and other force-multipliers.
A judge in Sangamon County Circuit Court has blocked a modest reform of Illinois’ pension system for state workers and retirees outside Chicago from taking effect June 1, giving Gov. Pat “Four Counties” Quinn the excuse he’s probably been looking for to block reforms for two of Chicago’s pension plans. (I’ll explain “Four Counties” in a moment.)
A new book by French economist Thomas Piketty on “Capital in the Twenty-First Century” has recently caused a major stir on the opinion pages of newspapers and magazines. Piketty has resurrected from the ash heap of history Karl Marx’s claim that capitalism inescapably leads to a worsening unequal distribution of wealth with dangerous consequences for human society.