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The essence of legal economics is professional excellence in legal service delivery embedded in a sustainable business model. In recent years, there has been a significant focus on the latter while assuming the existence of the former. To improve the delivery of legal services, innovation in law must take into account the conflicting silos of law schools, legal practice and legal technology. Collaboration among these essential components of today’s legal practice is critical.

The Second Machine Age may be the most influential book we have read this decade. The authors Erik Brynjolfsson and Andrew McAfee (both computer scientists at M.I.T.) make a compelling case for a radical shift in commerce, culture, and professional services needed to succeed in an exponential age of technology development and the explosion of information. In the authors’ view, the first half of the machine age (from the advent of the steam engine until 2006) was a journey of human progress in a predictable linear line. Characterized by competition and scarcity, the first half of the machine age was a winner-take-all approach to success and achievement.

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