Another life rule: Never pass up an opportunity to quote George Santayana.
Those who do not remember the past are condemned to repeat it.
The legal bubble burst in 2007, when talk of New York Biglaw to $190,000 changed to will Biglaw survive? Since then, things haven’t recovered back to 2007 levels, so the Future of Reinvent the New Normal of Law crowd have indulged in a laundry list of changes supported by empty rhetoric, prognostications of flying cars with ABS (the brakes, not the Alternative Business Structures used to conceal the unlawful practice of law), and people with no institutional memory deciding that it all makes sense to them.
At the Wall Street Journal Law Blog, however, Jacob Gershman was struck by the analogy between what happened with dentists and what has been happening with lawyers over the past six years. Continue reading
