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Why Are Lawyers So Expensive Even with the Excess Supply of Lawyers?
- titanomachy 8y agoInteresting, although seven years old (2012). I'd be curious to hear from someone familiar with the field on whether that disruption is happening as predicted.
- airbreather 8y agoBecause it is a "club", and they collude.
- airbreather 8y agoAnd who would down vote me, I wonder, other than a "club" member. All professions are clubs, with jargon, private societies/associations with barriers of entry, apprenticeships in various guises to screen out the unwanted and unworthy (and identify real talent early and nurture it), an internal network at various levels, the means to oust the rogue elements, the list goes on. In London there were called the guilds, going back over 1000 years and still with substantial influence and power today. Some clubs exert more power and control over their role in the wider world than others. Lawyers and doctors are two that come to mind as deeply protective of their club, for reasons potentially both virtuous and not. I felt I was just stating the obvious.
- spacecrew5 8y agoDepends on what the fee structure is. Most of the high-fees come from top tier firms that charge on an hourly basis. If you look wider for your legal services to smaller firms with fixed or consenus pricing[1], then it'll be cheaper. Still pricey, but cheaper than the stereotypical big firm. [1]https://www.lawyersweekly.com.au/sme-law/23173-small-firms-take-your-size-and-own-it https://www.lawyersweekly.com.au/sme-law/23173-small-firms-t...
- gamechangr 8y agoYou get what you pay for. That's one issue, being able to establish high quality signaling without using price as an indicator.