Tuesday, December 11, 2007

Overegulation in Canada

New report recommends deregulation of Canadian professionals. From canadianbusiness.com

OTTAWA - A new study is recommending Canada's lawyers, real estate agents and other self-regulated professions re-examine their rules to ensure they serve the public good and encourage competition.

The study by the Competition Bureau found rules that limit advertising, set prices and restrict who can offer professional services may go too far.

The bureau says such rules can boost prices, limit choice and restrict access to information consumers need.

Competition commissioner Sheridan Scott says rules are necessary but removing some could benefit consumers and the economy.

Scott notes professions are more regulated in Canada than elsewhere. That could be compromising productivity and Canada's economic growth.
--Get the full version here.

I know that it's hard to imagine a world where professionals are not regulated, but try comparing it to industries that are not regulated . Industries that employ professionals that aren't regulated (think engineers) are no more accident prone than industries that are. Sadly, Most of the professional regulation is used for the purpose of restricting competition.

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