Speaking at a day of discussion at Harvard Law School, Mr Karp - chair of Paul, Weiss, Rifkind, Wharton & Garrison - said that the publication of law firm revenues, starting in 1987, had a negative effect. Describing the current environment, he said: 'There’s a tremendous undue emphasis on achieving short term economic gain. Every year it seems that phenomenon becomes more acute.'
Huge problem
He added: 'The world now is trending much more toward ‘eat what you kill’ and that is a huge problem.' Paul Weiss uses lockstep and, said Mr Karp, partners know what other partners earn. Source: Bloomberg
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