> And it's not a free market. In a free market, the consumer can walk away from a purchase. Most times individuals or small businesses need a lawyer, they are in no position from walking away. They need a lawyer. And they need to stop spending time searching, and get on with resolving.
You're conflating two different concepts. You're talking about transaction costs (not being able to walk away once you've hired a lawyer). Markets with high transaction costs can still be free, in the sense you can choose whatever lawyer you want and supply and demand aren't artificially restricted.[1] Markets with high transaction costs are, on the other hand, not efficient.
[1] Supply in the legal field is regulated, but I'd argue it's supply in corporate law is not artificially restricted to any substantial degree.
You're conflating two different concepts. You're talking about transaction costs (not being able to walk away once you've hired a lawyer). Markets with high transaction costs can still be free, in the sense you can choose whatever lawyer you want and supply and demand aren't artificially restricted.[1] Markets with high transaction costs are, on the other hand, not efficient.
[1] Supply in the legal field is regulated, but I'd argue it's supply in corporate law is not artificially restricted to any substantial degree.