“[Legal Services’] intrinsic growth rate more or less tracks global GDP growth…”

Bruce MacEwen

I recently read Bruce MacEwen’s book “Growth is Dead: Now What?”  Bruce’s fundamental premise is that the legal profession has excess capacity, which when coupled with stagnant demand and client pricing pressures, will lead to many law firms finding themselves “relatively marginalized and, yes, irrelevant.” Granted, Bruce’s focus is “Big Law,” but is this true for all lawyers let alone for Big Law? Are legal services in today’s world a zero sum game with all lawyers and firms fighting over a fixed or barely growing market for their services?

Continue reading