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Yes, similar regulatory capture happens in most accredited professions, like lawyers (bar exam), accountants (CPA) and finance professionals (CFA). It benefits
by moorhosj 8y ago
Yes, similar regulatory capture happens in most accredited professions, like lawyers (bar exam), accountants (CPA) and finance professionals (CFA). It benefits the people who have already achieved the certification to make it harder for others to achieve (limit supply to increase their pricing power).
The AMA also actively lobbies against proposals to give nurse practitioners more patient access. [1]
[1] https://www.ama-assn.org/press-center/ama-statements/ama-statement-va-proposed-rule-advanced-practice-nurses https://www.ama-assn.org/press-center/ama-statements/ama-sta...
- kgwgk 8y agoAre the CPA or CFA harder to achieve than in the past?
- moorhosj 8y agoVery hard to quantify this. CFA pass rates have trended down since the 60s, for all three tests [1]. However, it could just be that more people are taking it or less-prepared people are taking it. Also worth noting that things like derivatives, alternatives, and international standards (GIPS, FRA) weren't on the exam in the 60s. I'm having a harder time finding pass rates for the CPA before 2006. They seem to have gone up a little in that 12 year window 2006-2017 [2]. The tax code has also gotten larger and more complex over the past 50 years, so that is worth noting. [1] https://analystprep.com/blog/cfa-historical-pass-rates/ https://analystprep.com/blog/cfa-historical-pass-rates/ [2] https://en.wikipedia.org/wiki/Uniform_Certified_Public_Accountant_Examination#History_of_exam_formats https://en.wikipedia.org/wiki/Uniform_Certified_Public_Accou...