The Myth of Yesterday

Rarely do I snag anything from The New York Times or The Wall Street Journal as an entree into an essay on Adam Smith, Esq. (not because there’s anything the least wrong with them, but because I figure you’ve probably already seen it), but rules are made...

Size Matters Not So Much

This is a guest column by a very good friend of Adam Smith, Esq., Richard Rapp, who was President and CEO of NERA Economic Consulting for 18 years (1988-2005), during which time the firm grew to global scale.  Richard now co-heads Veltro Advisors, a law firm...

The Georgetown/Thomson-Reuters 2017 Report

From the foregoing analyses, it is apparent that the financial performance of law firms over the past 10 years has been driven by only one factor: rate increases. As we have seen, demand gowth for law firm services has been essentially flat, productivity has been...

Time Capsule

In connection with an ongoing research/whitepaper project, further about which affiant sayeth not, I had occasion to look at the Original AmLaw 50 from 1985. Here are the first three columns: Rank, firm, and gross revenue: Aside from the historic time warp we...

Globalization Forever?

Along with Brexit and the apparently unsinkable Trump, another surprise has been brewing on the world stage and I hope you’ve noticed. Globalization—measured by the most fundamental and reliable metric, crossborder trade volume—has ended its ever upward...

Metrics That Might Matter #2: RPL

Spoiler alert: If you’re looking for a hard-hitting expose of everything that’s wrong with RPL, look elsewhere. I’m on record as saying that RPL is the most telling metric we have, and I stand by that with permission to amend, or permission to put...
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