Books on Law and Economics by Michael H. Trotter

How uncertain is the future of the legal profession in the United States? Michael Trotter has written a new book, What's to Become of the Legal Profession? to address this issue. He concludes that the prospects for lawyers are much better than many commentators have predicted.

Mr. Trotter's 1997 book on the legal profession, Profit and the Practice of Law, addressed the changes that occurred from 1960 to the mid-1990s and some of the profession's attendant problems. His 2012 book, Declining Prospects, explained the remarkable changes that had occurred over the past two decades, and What's to Become of the Legal Profession? explains why many consultants and academics have been wrong about how the practice of law would develop in recent years and about its future. The three books together provide a comprehensive review of the evolution of the legal services industry in America since the end of World War II and its prospects for the future.

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What's to Become of the Legal Profession? focuses on the recent past and the future of the practice of law in the United States. Trotter explains why the challenges faced by the legal profession today are no more intimidating than the major challenges of the last half century, and how the new challenges are likely to be addressed. While change will continue, the legal profession has demonstrated the ability to adjust and prosper in the changing legal environment.

Price: $28.00 currently has the book on sale!

Declining Prospects - How Extraordinary Competition and Compensation Are Changing America's Major Law Firms tells the story of growth and change in the legal services industry in United States during the last two decades and how they are affecting the major business practice law firms, their clients, their clients' law departments, and all of the lawyers serving the legal needs of business in America. The book explores how greatly increased competition and costs along with the emergence of powerful and capable corporate law departments, the commoditization of many legal services, and the impact of new technology and "New Model" law firms are now affecting the structure and future of America's most important law firms.

Price: $15.00 currently has the book on sale!

Profit and the Practice of Law - What's Happened to the Legal Profession has emerged as the definitive work on growth and change in the major business practice law firms in America between 1960 and 1995. It explains why and how America's major firms were transformed, and how the transformation affected the lawyers in those firms, their clients, and the lawyers working in-house for such clients. The book considers many of the problems with the delivery of legal services faced by clients, corporate counsel, and private practice lawyers and law firms and suggests solutions to them. Many of the problems that existed in the mid-1990s are still with us today. The remedies suggested remain relevant.


All three books are readable and entertaining for lawyers and non-lawyers alike and will benefit many types of readers. College students thinking about law school (as well as the counselors who advise them) will be better able to handicap their prospects for a satisfying and prosperous career as a lawyer. New lawyers will acquire insights into the challenges they face and how they can be overcome. Lawyers in the middle of their careers will gain a better understanding of their options, and of the skills they need to hone in order to remain successful in their careers. Retired lawyers may gain a better perspective on their own careers and the forces that shaped them. The books will hold the attention of business executives interested in managing their legal requirements and costs, and anyone interested in the life of lawyers in the major American firms or the role of the legal profession in America's business and economic life.


Michael Trotter has written and spoken frequently on the history and economics of the legal profession in America since the end of World War II and its prospects in the future. He was the Keynote Presenter at the October 2013 national conference sponsored by The NALP Foundation on "TOMORROW'S LAW PRACTICE: A FORUM ON THE MARKET, DEMAND AND OPPORTUNITIES FOR LAWYERS," during the 2015-16 year he served as Chair of the Law Firm Finance Committee of the Law Practice Division of the American Bar Association, and he is currently teaching courses at the Emory University Law School on The Evolution of the Practice of Law and of Law Practice Economics and on The Future of the Legal Profession.

Mr. Trotter's studies of law firm growth, change and the future have combined the perspectives of a successful practicing attorney, an experienced law firm manager, and a historian. As a partner in two of the largest and most successful firms in America (the predecessors of Alston & Bird and of Kilpatrick, Townsend & Stockton) and three entrepreneurial law firms, he has been a keen student of the economics and ethos of modern law practice. He is currently a Senior Counsel in the "New Model" law firm of Taylor English Duma LLP in Atlanta, Georgia.

Michael H. Trotter received his law degree from the Harvard Law School in 1962 and his B.A. degree from Brown University cum laude (Phi Beta Kappa) in 1958. Prior to attending law school, he was a Woodrow Wilson Fellow in the Harvard University Ph.D. Program in American History and was awarded a Master's Degree in History in 1959.