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Part 4: Virginia's Lawyers Confront Tougher Times, Dragas Center For Economic Analysis And Policy, Old Dominion University
Part 4: Virginia's Lawyers Confront Tougher Times, Dragas Center For Economic Analysis And Policy, Old Dominion University
State of the Commonwealth Reports
While movies and television shows portray lawyers as members of high society, with expensive cars and tastes, the reality is grittier. In 2021, more than 90% of law students took out a loan to enable them to pay their costs, and the typical law school graduate owed $165,000 in loans. The crucial point of this report, however, is that significant proportions of law school graduates are destined to be disappointed if they pursue a career in law believing they will earn lots of money. In this chapter, we explore the supply of lawyers in Virginia and whether we are producing …
What’S In Your Wallet (And What Should The Law Do About It?), Natasha Sarin
What’S In Your Wallet (And What Should The Law Do About It?), Natasha Sarin
All Faculty Scholarship
In traditional markets, firms can charge prices that are significantly elevated relative to their costs only if there is a market failure. However, this is not true in a two-sided market (like Amazon, Uber, and Mastercard), where firms often subsidize one side of the market and generate revenue from the other. This means consideration of one side of the market in isolation is problematic. The Court embraced this view in Ohio v. American Express, requiring that anticompetitive harm on one side of a two-sided market be weighed against benefits on the other side.
Legal scholars denounce this decision, which, …
Market Structure-Driven Discrimination And The Earnings Of Subordinate Managers: An Analysis By Union Density, Richard U. Agesa, Jacqueline Agesa
Market Structure-Driven Discrimination And The Earnings Of Subordinate Managers: An Analysis By Union Density, Richard U. Agesa, Jacqueline Agesa
Economics Faculty Research
Recent work examines the market structure/racial earnings relationship for union and nonunion workers and finds that standardized union earnings protect black workers from market structure–driven earnings discrimination. This study examines the market structure/racial earnings relationship for low and mid-level managers in high- and low-union density industries. Our findings indicate that there is less market structure–driven discrimination of managers in highly unionized industries. We suggest that there is a spillover effect of reduced market structure–driven discrimination of managers in highly unionized industries that stems from standardized, more racially equitable wages of union workers.