- Economics
- Answering Challenges to Advanced Economies
- Understanding the Effects of Technology on Economics and Governance
Rebecca Allensworth joins Steven Davis to talk about her new book on occupational licensing, which covers one-fifth of all American jobs. Licensing reduces supply, limits competition, raises prices, and harms consumers, benefiting incumbent practitioners at the public's expense. The US approach to licensing is especially prone to conflicts of interest and poor performance. Professor Allensworth offers several proposals to fix the licensing system, and Davis offers his thoughts as well.
ABOUT THE SPEAKERS
Rebecca Haw Allensworth is the David Daniels Allen Distinguished Chair of Law at Vanderbilt University Law School, where she studies antitrust and professional licensing. She earned a JD at Harvard Law School, serving as articles editor for the Harvard Law Review. She clerked for Judge Richard Posner of the US Court of Appeals for the Seventh Circuit and went on to a distinguished academic career. Her work has been cited by the US Supreme Court. She’s testified before Congress and has advised three US presidential administrations.
She is the author of The Licensing Racket: How We Decide Who Is Allowed to Work, and Why It Goes Wrong.
- Faculty Profile: Rebecca Haw Allensworth and Video
- Follow Rebecca Allensworth on X: @HawAllensworth
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES
- The Licensing Racket: How We Decide Who Is Allowed to Work, and Why It Goes Wrong by Rebecca Haw Allensworth, 2025.
- Capitalism and Freedom by Milton Friedman, 1962.
- The Theory of Economic Regulation by Geroge J. Stigler, 1971.
- License to Work: A National Study of the Burdens from Occupational Licensing, third edition, by Lisa Knepper and others, 2022.
ABOUT THE SERIES
Each episode of Economics, Applied, a video podcast series, features senior fellow Steven Davis in conversation with leaders and researchers about economic developments and their ramifications. The goal is to bring evidence and economic reasoning to the table, drawing lessons for individuals, organizations, and society. The podcast also aims to showcase the value of individual initiative, markets, the rule of law, and sound policy in fostering prosperity and security.
For more information, visit hoover.org/podcasts/economics-applied.
