Why Is a Cartel Not a Cartel When at the Hands of Regulators?: The FTC’s Recent Licensing Note* In Canada, the United States and many other open western and eastern economies we fortunately live in free markets. That is to say companies in any sector can enter, devise a new product (or improve on an existing products), compete and reap the free market rewards of doing so – with risk comes reward. Except, unfortunately, for the fact that national, state/provincial and local governments continually enact legislation, regulations, bylaws and the like setting out who can play, what the requirements are (usually licensing and fee requirements) and penalties for non-compliance. Needless to say these various state, regional and local regulatory licensing requirements typically impose
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The US FTC discusses the impact of licensure on occupations from nursing to accounting and describes how it evaluates the potential competitive effects of regulating professions
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