An Interesting Discussion

Blogger Ben Casnocha put a thought provoking post up today regarding the need, or lack there of, to have a degree or certification when entering the business world. The gist of his post is this:

Can you imagine if there was a law requiring all wannabe businesspeople to have MBAs (or some other degree)? It would be pure madness.

Why, then, is there a law requiring someone who wants to be a lawyer to have a JD? Why is there a law requiring someone who wants to be a public school teacher to have an education certificate? Why is there a law requiring someone who wants to be a doctor to have an MD?

Why wouldn't we just let the market self-sort itself like we do in the business world? Some people get MBAs, some don't. Some people value MBAs more highly, some don't.

Obviously it hit a nerve as it has sparked quite a discussion on Ben's blog. As I've written in the discussion over there, I feel the major reason is that the consequences of a failed business are far less than the consequences of a failed court case or failed education. It is interesting then, now that the discussion has begun to focus on the free market, that two reasonably educated people can come to incredibly different conclusions regarding the same subject. My opinion is that Reflexivity plays too large a role in the market in the short term for society to be able to weather the ups and downs without at least a little market regulation. What do you think? Join in the discussion.