Titles, offices, compensation and other goods that are positional

A book review (Fin. Times, Oct. 15/16, 2005 at W4) draws from the theory of choice the notion of positional goods. Having the best title, the nicest view of the park, the closest parking spot, the largest bonus is impossible for every lawyer to achieve because they “are all pushing through the same narrow turnstile.”

In law departments, where promotions come rarely and one general counsel is all that is allotted, the pursuit of positional goods dooms lawyers to frustration.