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Requirements like the bar exam exist also to protect the insiders who also happen to make the rules. In economics it's called an insider-outsider problem. Not s
by t_mann 4y ago
Requirements like the bar exam exist also to protect the insiders who also happen to make the rules. In economics it's called an insider-outsider problem. Not saying we should actually abolish the bar, just hinting at a possible reasonable argument.
- ImPostingOnHN 4y agoalso called regulatory capture
- t_mann 4y agoI'd say that's something different. Regulatory capture is when a regulator who is supposed to be outside the system gets drawn into it (like a banking regulator who gets defensive about a flawed risk model by a bank after they've given their approval). Bar associations are by definition run by people who are part of the system.
- deleted 4y ago[deleted]