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If the title is backed by professional standards, standards by which someone can lose the title and be held legally liable, then I can see the gatekeeping as valuable. If it is used to restrict who can write software, then I would see it as detrimental.

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That seems like the best way to parse the issue. To push back on my earlier point, some kind of standards enforcing mechanism doesn't have to be exclusionary as long as the path to earning the credential is open to everyone. It is probably more important now than it has ever been, since anyone can produce code now without understanding it.

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