Technology bringing fee reductions to legal work

Technology is starting to produce new business models for providing legal services, especially for big projects.

Why discuss this in an accounting blog? We CPAs need to be attentive to what is happening around us. We need to be armchair futurists, as I’ve discussed on my other blog.

The Economist has a great article, Alternative Law Firms – Bargain Briefs, describing some new models.

Purchasing power of an average worker in 1975 compared to now

Have a post up at my other blog, Nonprofit Update, about a fun analysis by Don Boudreaux looking at the comparative purchasing power of a non-supervisory employee working at average wages now compared to 1975.

I can’t think of a better time to be alive. Or, is the middle class better off today than in 1975?

He looks at items from a 1975 Sear catalogue and uses the average pay rate to convert the prices to the number of hours a person needs to work to buy the item.  Then he compares to the number of hours to buy a reasonably comparable item today.

I can’t . . . translation: I won’t

(duplicate of post from Nonprofit Update.)

Seth Godin talks about Accepting False Limits:

 I will never be able to dunk a basketball.

This is beyond discussion.

Imagine, though, a co-worker who says, “I’ll never be able to use a knife and fork. No, I have to use my hands.”

Or a colleague who says, “I can’t possibly learn Chinese. I’m not smart enough.”

We live in an age of overwhelming complexity. Will you choose to adapt?

We live in an age of overwhelming complexity.  Things will not get simpler, the change will only accelerate.

Do I really need to explain that the complexity of everything is overwhelming?  Consider merely the new 990, increasing regulation of every area of running a ministry or business, and the exponential growth of fantastic technology tools.

We need to decide whether we are going to adapt or not.  It is actually possible to opt out of the growing complexity.  Consider the cost though.  If our ministries do not adapt they may die.  More likely they will shrivel, then shrink into irrelevance.  At a personal level, we need to adapt or get left behind.

I choose to adapt.  I may be struggling and bumbling in my efforts, but I will move forward.  How about you?