This point can't be repeated enough in my opinion... far from being a cartel-industry, there is already fierce competition in the law. Small- to mid-tier law f

This point can't be repeated enough in my opinion... far from being a cartel-industry, there is already fierce competition in the law. Small- to mid-tier law firms can generally handle all but the largest, most labour-intensive matters at a fraction of the cost of the top-tier firms. The top-tier firms get the work not because they're the only option, but because people want the best. If the quality or service drops, there are plenty of lower cost alternatives without needing to flood the market. In my opinion, deregulation of law is analogous to deregulation of medicine in that they are skilled professions which take many years of study to become competent in. The main difference is that you don't hear armchair economists advocating to let every man and his dog hang a "Discount Brain Surgery" sign on their fence.