I recall a comment from an economics professor many years ago that an economy’s growth rate is inversely proportional to the per capita number of lawyers.
Adam Creighton would agree, presenting the depressing news of the ballooning number of lawyers in Australia, breeding like rabbits.
Creighton cites Willem Buiter
… except for a depressingly small minority among them, lawyers know nothing; they are incapable of logic; they don’t know the difference between necessary and sufficient conditions, indeed any concept of probability is alien to them (and) they don’t understand the concepts of opportunity cost and trade-off.
What is the myxomatosis for Australia’s lawyers? I think we need a strong price signal. A flat lawyer income tax rate of 65 per cent and a $200,000 levy on all legal degrees.
This lawyer myxomatosis should cull numbers down to acceptable levels. And then we can ask ourselves: are legal qualifications necessary for Australian judges, or are they undesirable? As the number of lawyers in Parliament falls, it should be possible to remove all regulatory protections that lawyers have voted to themselves.