Video: How Occupational Licensing Hurts the Economy

This video from the Institute for Justice shows how occupational licensing, or restrictive employment regulations, represents a form of labor protectionism that hurts the consumers, investors and job seekers, or as a whole, the economy. Yet the beneficiaries are the small number of privileged license holders and the government of course.

While the video has been focused on occupational licensing in the US, labor market interventions has universal relevance. In short, this applies to the Philippines too.