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By:Clifford Winston,Robert W. Crandall,Vikram Maheshri
Published on 2011-08-01 by Brookings Institution Press

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Not many Americans think of the legal profession as a monopoly, but it is. Abraham Lincoln, who practiced law for nearly twenty-five years, would likely not have been allowed to practice today. Without a law degree from an American Bar Association–sanctioned institution, a would-be lawyer is allowed to practice law in only a few states. ABA regulations also prevent even licensed lawyers who work for firms that are not owned and managed by lawyers from providing legal services. At the same time, a slate of government policies has increased the demand for lawyers' services. Basic economics suggests that those entry barriers and restrictions combined with government-induced demand for lawyers will continue to drive the price of legal services even higher. Clifford Winston, Robert Crandall, and Vikram Maheshri argue that these increased costs cannot be economically justified. They create significant social costs, hamper innovation, misallocate the nation's labor resources, and create socially perverse incentives. In the end, attorneys support inefficient policies that preserve and enhance their own wealth, to the detriment of the general population. To fix this situation, the authors propose a novel solution: deregulation of the legal profession. Lowering the barriers to entry will force lawyers to compete more intensely with each other and to face competition from nonlawyers and firms that are not owned and managed by lawyers. The book provides a much-needed analysis of why legal costs are so high and how they can be reduced without sacrificing the quality of legal services.

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Book ID of First Thing We Do, Let's Deregulate All the Lawyers's Books is SACyjRl7KlYC, Book which was written byClifford Winston,Robert W. Crandall,Vikram Maheshrihave ETAG "Gmg415g4sO8"

Book which was published by Brookings Institution Press since 2011-08-01 have ISBNs, ISBN 13 Code is 9780815721918 and ISBN 10 Code is 0815721919

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