Specialization and regulation: The rise of professionals and the emergence of occupational licensing regulation

• 成果类型: Article
• 署名作者: University of Vermont; Washington University (WUSTL); National Bureau of Economic Research
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• 发表日期: 2005
• 页码: 723-756
• 关键词: UNITED-STATES; QUALITY; restrictions; uncertainty; MARKETS; lemons

摘要

During the Progressive Era, advances in knowledge and specialization led to the emergence of modem-day professions. This growth in professions was accompanied by the adoption of occupational licensing regulation. In this article we explore the origins and effects of occupational licensing regulation during this period. Although most studies argue that occupational licensing regulation is adopted to restrict entry and reduce competition, the evidence from the Progressive Era suggests that regulation arose to improve markets as specialization and advances in knowledge made it increasingly difficult for consumers to judge the quality of professional services.