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“Suicide Prices” (and the Coming Crisis) at Big Law Firms
- bediger4000 14y agoThose firms may be training clients, like department stores have done with their customers, only to buy when prices are discounted, which could lead to more major firms going out of business Doesn't this sentence indicate a basic misunderstanding of market economics? "Prices are what you train your customers to want". Really? I'll bet that's not what the partners say to each other when they're buying IT services or xerox machine paper or office supplies or hiring paralegals. Besides that, what if a bunch of law firms go out of business? It's kind of hard to see that as a detriment to society as a whole, although I'm sure some divorces, hardships and personal catastrophes would come from it.
- greyfade 14y agoAnd Pro Bono work isn't on the table because...?
- mvkel 14y agoThis is the same complaint newspapers had when consumers pulled out the rug from under them. They felt entitled. You are worth what someone is willing to pay. With a massive talent dump of new lawyers out there, supply is far outstripping demand.