What changes would we see if it was no longer necessary to pass the bar in order to practice law? We can analyze this in two steps. First, hold everything else about the bar exam fixed and ask how the market will react to making it voluntary.Read the entire post here.
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Wednesday, July 29, 2009
Lawyers Without Bar Exams
Posted By Milton Recht
Northwestern Economics Professor Jeff Ely of Cheap Talk asks what "The Legal Profession Without Bar Exams" would look like.
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