You have to be a lawyer to run a law firm. Right. Do you're looking to do that as an economist? Good luck. It's not going to happen. So, or even an MBA? Yeah. Walmart and CVS and Walgreens now offer a legal, but innovative, where you can walk in and say, get a flu shot. Administered by somebody who's didn't get it. Not an MD. I've got them. And they work fine. Absolutely.
Clifford Winston of the Brookings Institution talks with EconTalk host Russ Roberts about the market for lawyers and the role of lawyers in the political process. Drawing on a new co-authored book, First Thing We Do, Let's Deregulate All the Lawyers, Winston argues that restrictions on the supply of lawyers and increases in demand via government regulation artificially boost lawyers' salaries. Deregulation of the supply (by eliminating licensing) would lower price and encourage innovation.