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In the mid-1990s, there was a sudden wave of lawsuits against tobacco companies and the annual salary of lawyers working for tobacco companies rose to
In the mid-1990s, there was a sudden wave of lawsuits against tobacco companies and the annual salary of lawyers working for tobacco companies rose to $200,000. At the same time, the annual salary of lawyers working for cultural institutions like art museums and opera houses was $80,000.
Over time, what would you expect to happen to the salaries of lawyers at cultural institutions, both relative to their past salaries, and relative to salaries of tobacco lawyers? Explain why.
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