In this book, the author examines why the institution of occupational licensing has had such a curious evolution and influence in the United States, the European Union, and China, and discusses the many similarities it has to guilds.
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America’s founders thought the right to earn a living was so basic and obvious that it didn’t need to be mentioned in the Bill of Rights. The Right to Earn a Living charts the history of this fundamental human right, from the constitutional system that was designed to protect it by limiting government’s powers, to the Civil War Amendments that expanded protection to all Americans, regardless of race.
Bottlenecker (n): a person who advocates for the creation or perpetuation of government regulation, particularly an occupational license, to restrict entry into his or her occupation, thereby accruing an economic advantage without providing a benefit to consumers. The Left, Right, and Center all hate them: powerful special interests that use government power for their own private benefit. In an era when the Left hates “fat cats” and the Right despises “crony capitalists,” now there is an artful and memorable one-word pejorative they can both get behind: bottleneckers. A “bottlenecker” is anyone who uses government power to limit competition and thereby reap monopoly profits and other benefits. Bottleneckers work with politicians to constrict competition, entrepreneurial innovation, and opportunity. They thereby limit consumer choice; drive up consumer prices; and they support politicians who willingly overstep the constitutional limits of their powers to create, maintain, and expand these anticompetitive bottlenecks. The Institute for Justice’s new book Bottleneckers coins a new word in the American lexicon, and provides a rich history and well-researched examples of bottleneckers in one occupation after another—from alcohol distributors to taxicab cartels—pointing the way to positive reforms.
Milton Friedman is regarded as one of the most influential economists of the twentieth century. This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, and his consumption theory, his research on monetary economics, to his views on contentious social and political issues such as education, conscription, and drugs. It also presents personal recollections of Friedman by some of those who knew him, both asstudents and colleagues, and offers new evidence on Friedman's interactions with other noted economists. The volume provides readers with an up to date account of Friedman's continuing influence andwill help to stimulate further research across a variety of areas, including macroeconomics, the history of economic thought, and public policy. With contributions from a stellar cast, this book will be invaluable to academics and students alike.
The coronavirus pandemic has hit the US economy hard. Fiscal and monetary support measures were rapidly deployed and there remains space for further policy support, if needed. However, with the shuttering of many businesses, unemployment has surged and many have left the labour force.