The Death of the Buggy-Whip Industry, etc.
The buggy-whip, stable, leather, tanning, and a hundred other industries became virtually obsolete the day Henry Ford’s first horseless carriages rumbled off the assembly-line. Of course, it was some time before the last industry participants passed away, but the die had been cast. It just took a few years for the news to sink in.
That’s why this piece in the ABA Journal is the most important read of 2011: not because it reveals anything new – God knows we’ve all been told for years that the ship is headed over the falls – but because the authors dispassionately and convincingly document how screwed lawyers are, how we compare to other industries, and why the reckoning that we now face was inevitable.
Turns out the legal industry did not die recently – that happened in the 50′s or 60′s. But its corpse has been carrying on since then like nothing was wrong. That is, until it began to collapse under its own weight. The good news? There’s a fix. The bad news? Law grads for the next 10 years will have to suck it up just like participants in the real estate, mortgage, and financial industries. And most of those new lawyers will never see another boom. Even more ironic is that fact that, for once, they’re not responsible for the fallout. It’s just bad timing.
By the way, anybody know where I can buy a new buggy-whip?











