

“Suicide Prices” (and the Coming Crisis) at Big Law Firms - tortilla
http://www.ritholtz.com/blog/2012/10/suicide-prices-the-coming-crisis-at-big-law-firms/

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bediger4000
_Those firms may be training clients, like department stores have done with
their customers, only to buy when prices are discounted, which could lead to
more major firms going out of business_

Doesn't this sentence indicate a basic misunderstanding of market economics?
"Prices are what you train your customers to want". Really? I'll bet that's
not what the partners say to each other when they're buying IT services or
xerox machine paper or office supplies or hiring paralegals.

Besides that, what if a bunch of law firms go out of business? It's kind of
hard to see that as a detriment to society as a whole, although I'm sure some
divorces, hardships and personal catastrophes would come from it.

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mvkel
This is the same complaint newspapers had when consumers pulled out the rug
from under them. They felt entitled.

You are worth what someone is willing to pay. With a massive talent dump of
new lawyers out there, supply is far outstripping demand.

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greyfade
And _Pro Bono_ work isn't on the table because...?

