- Volume 60, Issue 6
- Page 2087
Note
Supply, Demand, and the Changing Economics of Large Law Firms
Andrew Bruck & Andrew Canter
In 1991, Marc Galanter and Thomas Palay declared a “crisis” in the legal world. Their landmark book, Tournament of Lawyers, described how structural changes within the profession forced America's largest law firms to abandon professional norms in pursuit of ever growing profits. Galanter and Palay's arguments confirmed fears that the legal “golden age” of the 1960s had given way to a model based on unchecked competition and growth...