The Lawyer-Rent Seeker Myth and Public Policy

53 Pages Posted: 7 Jul 2014

Date Written: June 2, 2013

Abstract

Two enduring fallacies in public policy are that lawyers are rent seekers who impair rather than stimulate the economy, and that there are too many of them. While lawyers may disagree with the first premise, they tacitly accept the second. These two fallacies have led leaders in both the political and professional arenas to adopt policies that impair access to justice. This study documents the negative effects of those policies and recommends courses of action to reverse those effects.

JEL Classification: I32, J12, J13, K00, K1, K19, K40

Suggested Citation

Schmid, Teresa, The Lawyer-Rent Seeker Myth and Public Policy (June 2, 2013). Available at SSRN: https://ssrn.com/abstract=2462994 or http://dx.doi.org/10.2139/ssrn.2462994

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