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The 2024 Nobel Prize in Economics Goes To…..
The Nobel in Econ (a/k/a The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) for 2024 was awarded a few days ago to Daron Acemoglu and Simon Johnson of MIT and to James Robinson of the University of Chicago. Here at Adam Smith, Esq., we try to... read more +Polls Closing Soon on this Month’s “Question”
If you haven't voted yet, polls are closing soon on the January 2018 Question of the Month (hint: why are law firms so bad at succession planning?). By "bad," we mean four out of five seem to be ignoring the inevitable.
How Big is the NewLaw Revenue Suck?
OK, that’s an uncivilized headline, so we can dignify matters by calling the NewLaw Revenue S-&$*(# the NewLaw multiplier. This multiplier, however, is not your friend. In economics the concept of “multipliers” is widely applied. Keynes famously argued in his...
One Generation Firms
Janet Stanton co-authored this article. Corporate endurance should not be an end in itself. That said, in a very real sense, survival is the ultimate performance measure. --Ian Davis, Managing Director, McKinsey, writing in Reflections on Corporate Longevity....
Question of the Month: Succession Planning
“The Church is always one generation away from extinction.”—Archbishop of Canterbury According to the 2018 Citi Law Firm Group Client Advisory, one-third of equity partners are at or approaching retirement age Citi’s 2018 Report also has this to say: “Looking ahead,...
Is BigLaw One Business, or Two?
I’m coming to the conclusion that BigLaw is not one business, but two different businesses. Some firms (a minority) are in one business, but most firms are in another business entirely. Note what I am not saying: I’m not saying some firms have one business model and...
