Is the purpose of requirements to practice law legally to ensure quality or to restrict entry (WSJ, Sep 2021).
Edward Millner's blog. It contains links to articles for students taking Principles of Microeconomics and Managerial Economics. It also contains links to articles about politics. The opinions here are mine. No one at VCU reviews or approves what I post.
Showing posts with label Rent Seeking. Show all posts
Showing posts with label Rent Seeking. Show all posts
Wednesday, September 15, 2021
Tuesday, September 29, 2020
Who benefits from the bar exam?
This article asks whether the benefit of requiring lawyers to pass a State bar examination exceeds the cost (Planet Money, Sept. 2020). Here are some money quotes.
- "... Gillian Hadfield, a law professor and economist at the University of Toronto, argues there's no evidence that the bar actually protects the public."
- "'My estimate is well over 80% of Americans who need legal help can't get it because it's too expensive,' Hadfield says. 'And the main reason for that is a crazy regulatory system. The bar exam is part of that.'"
- "It's kinda like cafe baristas getting control of the coffee market by using the regulatory system to prevent restaurants, Keurig machines and gas stations from providing you coffee."
Monday, January 27, 2020
Thursday, January 16, 2020
Monday, October 7, 2019
A great example of using the power of the government to erect barriers to entry
Why would Kentucky have a law that lets incumbent firms stifle entry into the ambulance industry? One answer: to help the incumbents earn profit in the long run.
Monday, September 30, 2019
Bernie Sanders's plan for national rent control
This opinion in the WSJ (Sept. 2019) analyzes the predicted effects of a national rent control policy. It contains lots of information from past studies to support its predictions. One prediction is that people will engage in more lobbying to enhance their ability to earn profit.
Sunday, August 18, 2019
What is the difference between protectionism and raising barriers to entry?
Don't import pig semen into Australia.
"Federal agriculture minister Bridget McKenzie said breaches of biosecurity laws would not be tolerated.
"“'his case shows a disturbing disregard for the laws that protect the livelihoods of Australia’s 2,700 pork producers, and the quality of the pork that millions of Australians enjoy each year,' McKenzie said.
"“GD Pork imported the semen illegally in an attempt to get an unfair advantage over its competitors, through new genetics.'
"Western Australian Farmers Federation spokeswoman Jessica Wallace said the offences was 'a selfish act' that could cripple an entire industry.
"Federal agriculture minister Bridget McKenzie said breaches of biosecurity laws would not be tolerated.
"“'his case shows a disturbing disregard for the laws that protect the livelihoods of Australia’s 2,700 pork producers, and the quality of the pork that millions of Australians enjoy each year,' McKenzie said.
"“GD Pork imported the semen illegally in an attempt to get an unfair advantage over its competitors, through new genetics.'
"Western Australian Farmers Federation spokeswoman Jessica Wallace said the offences was 'a selfish act' that could cripple an entire industry.
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