ACSC 533 Lecture Notes - Lecture 29: Life Insurance, Middle Ages
20 Mar 2018
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For this reason, a profession must invest in research. To keep the faith of the government and the public, the profession should also invest in public relations. A profession can also lose its monopoly by exploiting it. E. g by setting standards too high in order to restrict supply. Examples of professions that last some (or all) of their presrige: If this happens, the government might regulate the monopoly or take it away. Actuaries (equitable life scandal in the uk) Accountants (see articles; also rise of software) Professions usually place a high priority on the objective of serving the public interest. Exactly what this means can vary by profession. As noted earlier, every profession must offer a service of value to society in order to obtain the status of profession in the first place. However, it is generally acknowledged that members of a profession should put their clients" interest first.
