Working Paper No. 07-09: Overhaul of British Legal System Can Sharpen Competition

Parliament is expected to act soon to pass a reform bill which will transform the legal profession, the legal aid system, and the organizational and financial structure of law firms in England and Wales.  In this Working Paper, AAI Research Fellow Bernard Ascher, an economist experienced in international trade and the service industries, describes the pending legislation and ponders its potential effects on competition in the law profession not only in the U.K., but in the U.S.