Profits v Partner, Is Law a Business or a Profession?

Posted by lukegilman

July 27, 2007

From David Lat’s article in the New York Observer Profits vs. Partners

One can argue over whether it’s a good or bad thing, and one can also argue about how long it has been going on. But most observers agree that large law firms are becoming more business-oriented, more focused on efficiency and profits—in short, more like investment banks, hedge funds and other money-making machines.

“We’re supposed to care about Aristotle and Plato, and they’re supposed to care about Mammon,” he said, comparing lawyers to finance types. “But now we lawyers care about money.”

Wait… only now do lawyers care about money? Where the hell has that guy been practicing…

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