Featured Article
Milton Friedman: “Inflation is always and everywhere a monetary phenomenon”
This is another installment in our series of profiles of leading economists from Capitalism and its Critics. Milton Friedman was born in Brooklyn in 1912 and died in San Francisco in 2006 at age 94. He is known as the primary apostle of monetarism, which is the... read more +The 2022 Nobel Prize in Economics
And the winner of the 2022 Nobel prize in economics is... Ben Bernanke! Or, as The New York Times reported somewhat more formally: The Nobel Memorial Prize in Economic Sciences was awarded on Monday to Ben S. Bernanke, the former Federal Reserve chair, and two other...
Your Comp Plan Motivates All the Right Behaviors (You Sure About That?)
We've worked with a lot of law firms over the years and an evergreen topic of discussion is their partner compensation plan--how it's structured overall, if it's aligned to the firm's strategy, and then all the devilish details to be worked out: where it fits on the...
A Sense of Place (It Matters After All)
Geography--a "sense of place"--is often taken for granted as the inevitable but fundamentally random by-product of historical happenstance, and almost never appreciated for the strategic dimension it provides--like it or not. Because it's seen as foreordained, law...
Law Firms Fail in the Oddest Way (All of Them)
Recently across my desk came a copy of a thoughtful and comprehensive article on why law firms collapse. Or rather, I should say, a pair of articles on that topic, both by John Morley, Yale law professor {his name was not familiar to me). The pair of articles consists...
A Late Summer Reflection: The Real Adam Smith
And now for something rather different. Not infrequently we're asked how, or why we named our firm Adam Smith, Esq. The short and true somewhat beside-the-point answer is that it's a bit of wordplay on the intersection of economics (Adam Smith) and law (the...