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Licensed to Steal

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Question: What do architects, attorneys, dentists, dietitians, embalmers, funeral directors, innkeepers, nurses, optometrists, pharmacists, physicians, surveyors, and veterinarians have in common? Answer: They are all employed in occupations that are licensed or similarly regulated by the state. Question: What else do these occupations have in common? Answer: They are all under-represented by minority practitioners. Is there a relationship? You bet your state-board ...

Book Review: Welfare Economics and Externalities in an Open Ended Universe

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Welfare Economics and Externalities in an Open Ended Universe: A Modern Austrian Perspective by Roy E. Cordato (Boston: Kluwer Academic Press, 1992); 140 pages. Classical liberals and libertarians have traditionally argued that government should be limited to certain essential functions for the sake of social order: police protection against domestic criminals, military force for security against foreign aggression, and a court ...