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date: 09 April 2020

Abstract and Keywords

This chapter looks at the legal profession from the perspective of law and economics. It examines the legal profession from a labour market perspective. Firstly, it looks at law schools, which serve as an initial gatekeeper for the legal profession. Within law schools, it reviews the literature on admissions, bar passage, and educational debt. Secondly, it considers the labour market for lawyers, looking at the small competitive market of judicial clerkships; the practice of law, predominantly from a large law firm perspective; and the smaller competitive markets for judgeships and legal academia. Thirdly it looks at attorney quality and performance, reviewing the literature that examines attorney quality within and across areas of law, and perceptions where disparity may be the greatest. It concludes with a discussion of the future of law in the aftermath of the 2008 global recession and recent developments in technology.

Keywords: legal profession, labour market, law schools, lawyers, attorney quality

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