It's worth noting that part of the wage of lawyers and accountants is monopoly rent extracted by strict licensing requirements that put hurdles in the way of po

It's worth noting that part of the wage of lawyers and accountants is monopoly rent extracted by strict licensing requirements that put hurdles in the way of potential competitors. It doesn't matter if you can pass the bar or the accountancy exams, most states will require that you also get a college (or post-college) degree. Credentialism keeps competitors and innovation out of fields like medicine, accounting, law, and taxi services, maintaining high prices and high wages.