The Governor of New Mexico, Susana Martinez, just recently signed an executive order that calls for a thorough, internal review of all occupational licensing requirements in the state.
If the state can reverse and do away with some of their occupational licensing requirements, then that opens the doors for people to explore new avenues of trying to make a living for themselves and their families.
When people aren't burdened with expensive, confusing, or tedious, barriers to market entry, via various occupational licensing rules, it's not only better for the individual but also for the community as well. This is because occupational licensing rules have been found to keep millions of jobs out of the market, they also arguably contribute to lower quality and higher prices for consumers because they work to reduce competition and in-turn help to protect monopolies.
Over the years, various lawsuits have been launched in an effort to fight back against occupational licensing in numerous states. And some courts have previously struck down some of these occupational licensing rules, concluding that they are unconstitutional.
If New Mexico can change some of their occupational licensing rules then that would make it easier for the people in the region to enter into the market, to pursue various entrepreneurial endeavors that they might be interested in.
The recently signed executive order in NM also affirms the notion that research has demonstrated occupational licensing schemes to effectively reduce economic mobility, innovation, and entrepreneurship. As a part of the recently signed order, licensing boards will be required to review and report on all of the requirements and rules that pertain to the certain licenses that they are in charge of administering, among having to possibly provide other additional details.
If officials in NM can reduce the occupational licensing web that exists currently in the state, then that is especially going to help low and middle income Americans. Not only that, but it's going to benefit consumers overall by helping to foster an environment that encourages the pursuit of further innovation and better services etc, without rigid restrictions to first get through.
By working to reduce the restrictive regulations that are in place, they are essentially working to provide more freedom to the people. However, we'll still have to wait and see what sort of meaningful changes (if any) they eventually come up with as a result of this recently signed order.
