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., right to hold property) for millennia, and are predominantly found in elite and knowledge professions (e.g., 70% or more, depending on the profession), despite their small share in the population (less than 20%).

Despite offering salaries 15% to 20% below market, they have their pick of hires from elite law schools and those who burned out at other firms, because as Applegate said, “even lawyers want to enjoy a life outside of work, and people see the value proposition for working 300 hours less for a little bit less money” (Behson 2013).