Two Law Grad Markets

The first thing you learn in your antitrust law course is to ask, “What’s the market?” In other words, define the market you’re talking about, because the definition you select, I promise you, will make all the difference. Antitrust analysis aside, choosing the span of the market on which you plan to compete is such
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Articles, Law Schools, Recruiting

Economics in 335 Words

Tom Sargent, a Professor at NYU, won the 2011 Nobel prize in economics (together with Chris Sims) for his work on “rational expectations” theory.   Four years before that, he gave a speech to Berkeley undergraduates which reads in its entirety: I remember how happy I felt when I graduated from Berkeley many years ago. But
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Articles, Just Plain Interesting

Paralyzed? Snap out of it

“Never before has our future seemed so shrouded in fog and noise,” I’ve written, and discussed its paralytic effects on our decision-making. Comes now academic vindication of just how strong the effect is. But I’ve also dug up, from the same academic source (the Wharton School), a potential antidote. If we have the courage to
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Articles, Innovative Managing Partners, Leadership, Strategy

Law Schools on Fire

Yesterday morning I got back to New York on the redeye from Seattle where I’d been at the annual NALP conference, attended by well over 1,000 people involved in career services from law firms and law schools. (I was there figuratively wearing my JD Match hat, not my Adam Smith, Esq. hat.) For those of
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Articles, Law Schools, Leadership, Strategy

3 Leading Indicators of Success

Turnabout. Today we have a sequel, in a yin-yang fashion, to our earlier column, “3 leading indicators of failure.” What might the equivalent indicators be for success, or outperformance? I’m not going to rehearse characteristics of successful firms that I consider elementary learning from Manaqement 101, or good organizational hygiene, any more than I would
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Articles, Business Models, Cultural Considerations, Finance, Leadership, Strategy

3 Leading Indicators of Failure

Can you remember a time when there was so much talk of more BigLaw firm failures? I can’t. Count yourself a believer or a skeptic (and there are hardcore advocates on both sides, including gleeful cheerleaders in the first camp and diehard deniers in the second camp), this is a new phenomenon on our landscape.
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Articles, Cultural Considerations, Finance, Leadership, Strategy

Letter from London

Greetings from the right side of the pond: Impressions and observations from a wide-ranging series of conversations and meetings over the past few days. 1. Overall, the market here strikes me as a few years beyond—more evolved—than the US market. Why this is so I have no theory, but firms in general talk more crisply,
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Articles, Business Models, Cultural Considerations, Globalization, Strategy

Lessons from Google

Loyal readers of Adam Smith, Esq. know that we think there’s much that can be learned for Law Land from other industries. Today’s column is in that vein, and our texts for today come from The New York Times and Above the Law. The first text is Tom Friedman’s recent “How to get a job
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Articles, Cultural Considerations, Recruiting

Where Do You Want Your Firm to be in 2020?

The following was published a month ago in LegalBusiness as part of their periodic “Dissent” series.  The original appears here. Adam Smith, Esq’s Bruce MacEwen argues that short-termism and a lack of stewardship has come to define the modern law firm To judge from the way law firms behave – it’s helpfully instructive to ignore what they
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Articles, Leadership, Strategy

Lawyer-blogger Conference

On Friday, March 14th, here in New York at the Yale Club, Above the Law is putting on a lawyer blog conference, running from 8:00 am to 5:00 pm. More information including the agenda and registration details are here, but a few of the highlights are: welcoming remarks by Floyd Abrams of Cahill Gordon a
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