Lawyers are unique in benefiting from a double pressure on wages: a supply restriction via licensing combined with a demand expansion generated by government—regulation, liability, and litigation all create demand for lawyers—so the combination of restricted supply and government-induced demand pushes earnings up.

causalpending

Speaker

Clifford Winston

Evidence Quote

that that komban of a restriction and supply an increased demand is putting pressure on wages

Source

Clifford Winston on Lawyers 09/5/2011EconTalk
Created: 6/15/2026, 9:26:52 AM

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