Legal Markets
区分法律市场与律师市场，指出律师自我过度监管法律市场会抑制投资于法律和监管技术，从而扭曲经济活动与增长，尤其影响应对全球化、数字化、包容性诉求和人工智能带来的经济转型。
The existence of an effective legal system is assumed throughout economic analysis, and yet there has been little study of the economics of legal markets themselves. Research to date has focused narrowly on the economics of markets for lawyers. In this review, I distinguish legal markets from the market for lawyers and show how excessive regulation of our legal markets—by lawyers themselves—distorts economic activity and growth. It does so primarily by inhibiting investment in the legal and regulatory technologies needed to respond to the transformation of the economy wrought by globalization, digitization, aspirations for inclusion, and the coming of artificial intelligence.