Mises (1949[1963], p. 692) explains that market-failure justifications for state actions, such as economic regulation “ascribe to the state not only the best intentions but also omniscience.” He then points out that neither assumption is valid: government is not benevolent since both, those...

Licensing requirements for US private security firms and guards differ substantially from state to state. State regulatory institutions for this industry also vary considerably. Some states have specialized regulatory boards with industry personnel (guards, firm owners) and/or public police as...