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Accounting and Financial Planning for Law FirmsFeaturesLaw Firm Client RelationshipsLaw Firm Management

The Way Big Law Reacts to Economic Cycles Is Unrealistic, Unhealthy and Inhumane

By Alexander M. Geisler
July 01, 2023

Things are what they are. This is one of the central tenets of lean law. In any case, project or scenario, lean says to identify the durable realities, accept them and work with them. When it comes to economic cycles, Big Law does the opposite.

It turns out that Big Law has a problem with economics. The nature of that problem is that all economies are cyclical. Over time, in any economy, in any market place, output will grow, then decline, then recover, then decline. This doesn't suit Big Law, which only wants to see steady gains.

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