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The marketplace-of-ideas metaphor buttresses most Supreme Court
decisions regarding the first amendment. Despite its widespread use, the
Court overlooks an important fact concerning the prescriptive worth of
the market metaphor: a market's structure affects its social
outcomes. Economists recognize at least four structures; yet only one,
perfect competition, produces the social benefits to the polity
generally associated with free speech. Because the Court neglects
structure, it reasons as if existing markets automatically contain the
beneficent attributes of the ideal structure. This paper begins by
outlining the theory and desirability of an optimal market structure as
well as the dangers of alternative ones. Is the marketplace of ideas
reflective of an optimal market? Evidence suggests no. Yet, the
Court's decisions often assume the marketplace of ideas is indeed
optimal. We conclude with illustrative court decisions referencing the
marketplace of ideas. These illustrations demonstrate that justices
would not reach many of the decisions they do if they applied economic
insights about the effect of market structure.
In an age of egregious and unethical activities undertaken for
personal aggrandizement, it is of some satisfaction to recognize that
there are established national and state standards setting forth rules
of professional conduct. The legal profession within all 50 states
operates under such regulations so as Lo assure that conduct complies
with these standards and unethical conduct faces pronounced
consequences. Peer review boards consisting of co-professionals measure
individual conduct against these standards and implement sanctions for

violation of the professional rules.
The Supreme Court and the Marketplace of Ideas: Paradigm of Perfect
Competition. Justin Rex, Wayne Stale University, Political Science; M.
Neil Browne, Bowling Green State University, Economics
In some situations, the misconduct and resulting injury to a client
can be readily identified allowing for a complaint to be initiated by an
injured party; but in other situations unethical conduct is cleverly
obfuscated such that a person may suffer harm without recognizing that a
professional violation has occurred and that a remedy exists. It is one
of these latter types of cases that are chosen as the focal point of
this presentation. Essentially, the discussion will describe a breach of
an attorney-client relationship when technology and the media were used
by counsel for personal recognition, advertisement and professional gain
by providing video and print publications that resulted in harm to a
client.
This review examines the rule at law and defends die legal
profession.
These abstracts were edited by section leader, Julie Granthen.
The Rule of Law & Lawyers: Everyone Benefits from Lawyers!
David A. Potts, College of Business and Management and Mark D. Potts,
Assistant Dean for Undergraduate Programs, College of Business and
Management, Saginaw Valley State University
The preservation and advancement of the human spirit and the
biosphere in which it exists is enhanced by the rule of law and its
implementers. It permits the nonviolent questioning of any and all
authority as well as novel or competing ideals, goals and beliefs. At

the same time, it prohibits and punishes violent outburst and strives to
be equitable while providing a compensation system for unjust acts. The
freedom to question is the essence of the rule of law and it does not
exist in a vacuum. Lawyers make it possible!
Let's kill all the Lawyers! Have yon ever overheard this
remark at a meeting or been greeted with this statement or exclamation?
Not only is this statement contrary to the rule of law, it is insulting,
offensive, illogical, and politically incorrect. Oft used, this
exclamation is a callously employed misquotation and is usually invoked
as a crude attempt at humor or insult. To the contrary, lawyers are
essential because a society or civilization based on the rule of law
cannot exist without lawyers.
Exploitation of Information Finds Attorney in Ethical Violation.
Elizabeth A. Campbell, J.D., Department of Finance and Law, Central
Michigan University and Tanya M. Marcum, J.D., Department of Business,
Bradley University

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LAW.

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individual conduct against these standards and implement sanctions for

authority as well as novel or competing ideals, goals and beliefs. At

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