What phenomenon is exemplified by the emergence of specialized qualifications and certifications for professional associations?

Question

Quizplus · Accepted Answer

Weber's closure theory explains how professional associations use specialized qualifications and certifications to restrict entry into their profession, creating a form of closure that limits competition and maintains the status of the profession. This leads to a smaller pool of qualified workers and higher wages for those who do meet the criteria, creating a form of economic rent.

What Phenomenon Is Exemplified by the Emergence of Specialized Qualifications