I used to be very dismissive when hearing senior lawyers blame the press for creating an environment in which law firms pursue ever-escalating partner profits. But I’m a little less sure than I used to be.
On one level, it is an exercise in futility and blame-shifting to complain about the media’s handling of profits. All businesses have benchmarks for success – a way of ascertaining the share price. And once you move past being a cottage industry, as law did years ago, a market is naturally created for financial information.
