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Journalists are sometimes criticised for making lawyers overly focused on profits. The theory is that the profession has become overly bent around the one metric of profits per equity partner (PEP) and that the media has played its part by publishing those numbers. Personally, I think the idea that the media introduced greed to an innocent and unsuspecting profession is nonsense. The legal profession has grown rapidly in recent years, and when that happens to any industry you get more transparency. That’s a natural development of a healthy business services market, and it comes with the territory. I also don’t know of any industry where a core measure of profitability hasn’t become well established.

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