The GF hooked me up recently with a book called Freakonomics. It's a sort of pop economics book that I'm pretty sure is scorned by the highbrow economics intellectuals. Nonetheless, I've always been fascinated by economics - well, not always but for a long time anyway. Plus, my cynical/skeptical ass is always looking for the hidden agendas and incentives in everything. For me, there's the given explanation, then there's the real explanation. The book's main theme is "If morality represents how people would like the world to work, then economics shows how it actually does work." So, I found this book especially interesting. Plus, this book had a chapter about the importance of people's names entitled Perfect Parenting, Part II; or: Would a Roshanda by Any Other Name Smell as Sweet? So basically, if I were ever going to write a book about economics, well, someone has beaten me to it.
The book applies its main theme to some unlikely subjects: cheating schoolteachers and sumo wrestlers, the KKK and real estate agents, the relationship between the drop in crime rates and legalized abortion and whether parents matter in the development and success of children.
The chapter on how the KKK and real estate agents are alike is about how secret information is vital to certain groups and without it, they completely lose their power. I was immediately able to apply this to my current job search. In the book, a man infiltrates the KKK during the height of the group's power and is privy to all of the secret handshakes, passwords, membership and vernacular. He spills this information to the producers of a popular radio show who broadcast it. In short order the KKK falls apart. Likewise, real estate agents enjoy a monopoly on certain types of information useful to potential buyers and sellers of residential real estate. Once the public has access to this information - say, through the internet - then real estate agents lose their advantage. All professionals benefit from this "monopoly of knowledge" - doctors, lawyers, engineers. But the difference between professionals is how long it would take an average person to acquire the same knowledge. For example, I could spend several hours on the internet researching recent home sale prices in certain neighborhoods and gain roughly the same level of knowledge as a real estate agent on the topic. However, if I was having chest pain, I wouldn't be able to learn quickly enough about atherosclerosis, or any of the myriad other diseases where chest pain was a symptom, to do myself any good. Thus, I may be able to reduce or cut out altogether the expense of a real estate agent, but I would be foolish not to pay for the services of a physician.
We law grads who are entering the legal job market are at a similar disadvantage: the firms have access to all of the market information while we do not. Check that - all firms except for big firms, who divulge every bit of information through sources like NALP. NALP does have some limited information for mid-sized and small firms, but it is not market specific. You would think that the career resources offices at law schools, whose students pay for their services, would compile this information so that grads could enter salary negotiations armed with adequate information. For whatever reason, at my school at least, this information was not adequately gathered or made available. I found out what little they did have, which I have previously posted on this blog, and had to ask for it. More useful to me was information that I got from an HR director at a mid-sized local firm. An attorney I work with put me in contact with her and the information I got turned out to be the most useful I had. (Incidentally, her numbers were actually fairly consistent with those of the STCL CRC.) Without that contact, which most people don't have, I would've been stumbling in the dark.
So why am I spending so much effort on salary information? It's not because I am obsessed with money. Don't get me wrong, I want to make sure I get a good deal. But more importantly, I want to spread the information I've gotten so that other grads won't get screwed by firms who can take advantage of them because they simply don't have good information. Translation: I'm a muff-diving commie pinko fuckstick who's fighting against the man on behalf of the proletariat.
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