“Whatever is, is right”.  

This statement epitomizes the University of Chicago School of Economics and its laissez-faire approach to economics: the market is always right, so whatever you find in the market, that’s just fine.

Today, flying to Chicago for the annual meeting of the College of Law Practice Management, where innovation in law practice is always a topic, prompted me to think about this Chicago aphorism and lawyers.

It applies just as well to lawyers, who typically assume that whatever they are doing is right. (See, for example, my post about Judge Grimm’s Victory Stanley decision and its implicit assumption that document review by lawyers is right.)

Of course, the corollary to this is “Whatever is new, is wrong”. (Also with apologies to grammarians.) Here at the College, however, we don’t believe that. I hope to have interesting postings in a few days about the proceedings of our meeting.