alt Hacker NewsDemand for law related things isn't elastic. In fact, in an increasingly unemployed, AI first future, work law is a dead end, contract law is a dead end, and there will not be "AI law" jobs created.
"Price go down means more demand" applied blindly is a an economic theory so absurdly shit that even the most apeshit libertarians like Ayn Rand know it isn't true. Don't make me defend Ayn Rand.
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What is an "AI first future"? Infinitely capable robots and AI? All current laws and regulations suddenly gone or changed?
Why would there be less demand for contract law or for privacy related law, for example? There is certainly some elasticity in law related things from my own experience.
Where have I applied elasticity blindly?
> Demand for law related things isn't elastic.
Of course it is. When someone is thinking of suing someone else the first thing that gives them pause is the potential legal costs.
Labor law will be hit more by widespread use of robotics, but I can envision a much larger market for contract disputes and transactional law. Having AI in both sides doesn’t mean people won’t disagree about stuff.