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Summer Reading List 2025

In keeping with our tradition at Adam Smith, Esq. of publishing a summertime diversion in the form of a selective list of what we’ve been reading lately, herewith the 2025 installment: Fiction, nonfiction, and one millennia-old classic. Our hope is that you might find... read more +

How Profitable Is Our Group? Who Cares!

by | Feb 25, 2005 | 0 Comments

Now that we all have religion about organizing firms by practice groups (well, most of us, anyway), the next logical question is, to paraphrase Ed Koch, "How are we doin'?"  In other words, which practice groups are the strong economic engines driving...

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Christo’s “The Gates:” Take Two

by | Feb 25, 2005 | 1 Comment

I put an on-line "photo album" up about "The Gates" installation in Central Park.  Check it out. You still have today, Saturday, and Sunday to experience them in person: preposterous, insane, magical, joyous—brings out the child in every...

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Laterals as “Mini-Mergers”

by | Feb 24, 2005 | 0 Comments

If you asked us to name one seminal development that "changed everything" in terms of law firm economics between the stasis model of the 1950's and the dynamic model of the 1990's, we'd say it was the creation of a market for lateral partner mobility. ...

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“Savvy Blawgers” Query #2: Now on Deck

by | Feb 22, 2005 | 0 Comments

Coming soon:  The results of the "Savvy Blawgers Query #2!" You will recall the results of "Savvy Blawgers Query #1," which had to do with changes in law firm management over the next five to ten years.  [That link also has a handy-dandy...

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Professional Behavior Under Incentives

by | Feb 20, 2005 | 0 Comments

So this has nothing to do with the economics of law firms, but it has a lot to do with professional behavior under incentive regimes.  Two economists at the University of Chicago have published a paper analyzing whether realtors (representing the seller of a...

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