Showing results for: “price gouging”
The Law and Economics Revolution in Securities Law, Part V
Law Review Editors…take note. You may get an opportunity to catch this one in February if you play your cards right. I’ve been blogging updates of my research for a new article developing what the economic analysis provisions of the National Securities Markets Improvement Act of 1996 requires of new SEC rulemaking. Blog colleague Prof. ... The Law and Economics Revolution in Securities Law, Part V
James Cooper on Antitrust Treatment of Expansive Interpretations of Ethical Rules
Attorneys earn excess rents by maintaining barriers to entering the legal profession. Legislation and regulation expanding the scope of work that only an attorney legally can perform is an obvious way in which attorneys attempt to expand or protect the market for their services. The FTC has a long history of trying to convince state ... James Cooper on Antitrust Treatment of Expansive Interpretations of Ethical Rules
Dan Katz on Legal Informatics, Corporate Law Firm Ownership and 21st Century Legal Education
A recent article argues “65 percent of today’s elementary aged kids may end up doing work that hasn’t even yet been invented.” This is a thought provoking number and it points to the disruptive nature of innovation and its impact on a variety of labor markets. There is a portion of the downturn in legal ... Dan Katz on Legal Informatics, Corporate Law Firm Ownership and 21st Century Legal Education
Gillian Hadfield on Evidence-based Regulation for Law
There is a Missouri statute that makes it a misdemeanor, punishable by $100 fine, for anyone who is not licensed by the Missouri bar to “engage in the practice of law or do law business.” If convicted, violators can be sued by anyone that paid them for their services or by the state of Missouri; ... Gillian Hadfield on Evidence-based Regulation for Law
Thom Lambert on Alternatives to Lawyer Licensing
Let’s start at the very beginning. When analyzing the merits of any regulation — i.e., any rule that disrupts private ordering by threat of force — one should first ask what problem the regulation aims to avert. When it comes to the rules banning sales (and thereby preventing purchases) of legal services by unlicensed individuals, ... Thom Lambert on Alternatives to Lawyer Licensing
Hans Bader on Abolish Law School Requirement, Keep the Bar Exam?
Lawyer licensing should not be completely abolished, but it should be made radically easier and cheaper by abolishing the requirement that lawyers attend law school to sit for the bar exam, and by only requiring passage of the bar exam for those who handle court cases. Legal redress should also be made easier by allowing ... Hans Bader on Abolish Law School Requirement, Keep the Bar Exam?
Richard Painter on Litigation Financing and Insurance
Fifteen years ago I published an article urging that non-lawyers be allowed to finance the cost of legal representation in return for a percentage of a judgment or settlement if the plaintiff is successful. Common law prohibitions on champerty were widely believed at the time to prohibit third parties from buying an interest in litigation. ... Richard Painter on Litigation Financing and Insurance
Renee Newman Knake on Corporations, the Delivery of Legal Services, and the First Amendment Part I
Last month the New York Times ran an editorial with the headline “Addressing the Justice Gap,” observing that “the poor need representation and thousands of law graduates need work.” The piece proposed several solutions, but notably absent was the reform most likely to deliver legal services to those in need and to create jobs for ... Renee Newman Knake on Corporations, the Delivery of Legal Services, and the First Amendment Part I
Eric Talley on Deregulating Lawyers: Comments From a Knee-jerk Skeptic
I have spent the last few days reading the recent study by Clifford Winston, Robert W. Crandall, and Vikram Maheshri, entitled “First Thing We Do: Let’s Deregulate All the Lawyers” (Brookings Institution, 2011, $19.95). In it, the authors marshal a variety of empirical methods to argue that the current practice of state bar admission and ... Eric Talley on Deregulating Lawyers: Comments From a Knee-jerk Skeptic
Gillian Hadfield on Right-Regulating Legal Markets
Although it has the zing of a slogan that I myself have often used, the call to ‘deregulate’ the legal profession is misleading. Yes, most of us who argue that the legal profession is excessively closed to competition—in a way that hampers both access and innovation, as I have argued in recent papers—think that the ... Gillian Hadfield on Right-Regulating Legal Markets
Robert Crandall on We Need More Lawyers!
Several years ago, when Cliff Winston and I began looking at the incomes earned by lawyers, we were struck by several facts. First, after accounting for age, years of education, experience and various other demographic influences, we found that the income premium earned by lawyers had increased by about 50 percent between 1975 and 2004, ... Robert Crandall on We Need More Lawyers!
Larry Ribstein on Deregulating Lawyers Whether They Like it or Not
Much of the writing on deregulating the legal profession asks skeptically whether it could or should happen. It was logical to wonder what could change when the profession was locked up tight by the lawyers themselves. What opposing political interest group was comparably well-organized or well-informed? Consumers could sue to break up the regulatory monopoly, ... Larry Ribstein on Deregulating Lawyers Whether They Like it or Not
