by Bruce | December 9, 2004 | About the Site, Adam Smith Himself, Articles, Just Plain Interesting
Adam Smith’s thought (the real Adam Smith, that is) has been famously characterized by the economist George Stigler as a "stupendous palace erected upon the granite of self-interest." I have long labeled this a "mischaracterization,"...
by Bruce | October 7, 2004 | Articles, Finance, Just Plain Interesting, Strategy
Stories that provide real-world confirmation of our core beliefs are all but irresistible—even if fundamentally intellectually unchallenging. Two of my core beliefs about analyzing policies at the intersection of law and economics are: a "static"...
by Bruce | August 27, 2004 | Articles, Just Plain Interesting
Bar exam hypothetical: A two-lawyer, one-secretary firm is handling a malpractice case against a bankrupt hospital. In September a key deadline in the matter—when claims must be filed to be recognized as pre-bankruptcy and therefore entitled to...
by Bruce | August 11, 2004 | Articles, Just Plain Interesting
For the first time, the inimitable Vault site solicited partners’, not just associates’, opinions for its annual "Most Prestigious Firms" ranking. Here we go: Cravath Wachtel Sullivan & Cromwell Davis-Polk Skadden …etc. Once...
by Bruce | July 27, 2004 | Articles, Cultural Considerations, Just Plain Interesting, Leadership, Partnership Structures
After all the Sturm und Drang surrounding implementation of Sarbanes-Oxley, how "reformed" are corporate boards? According to Ira Millstein, not very. How could this be? Chalk up another one to human nature: "My impression is that...
by Bruce | July 6, 2004 | Articles, Just Plain Interesting
This has nothing whatsoever to do with the AmLaw 100 and their kin, but it’s such a juicy example of the Law of Unintended Consequences that I have to call your attention to it. Most readers of this blog have probably heard that California Governor Arnold...
