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Credit: Errata Carmona

No economic expansion lasts forever.

That’s a hard-and-fast truth of macroeconomics, one that’s on the minds of certain law firm leaders as the current period of sustained growth in the United States is about to hit its ninth birthday.


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“We’re in the longest expansion since 1929, and they haven’t repealed the business cycle,” Ropes & Gray chairman Brad Malt says. “No one knows when the expansion will end, but we know it will end, and we know how it will end: in a recession.”

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Dan Packel

Dan Packel covers change and innovation in the legal services market, and writes a weekly briefing for Law.com, "The Law Firm Disrupted," on these subjects. He is based in Philadelphia. Contact him at [email protected] On Twitter at @packeld

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