Although it's difficult to theorize about these things in the abstract, history always provides us interesting hints. Via the Legal History Blog I found this new paper by Samuel J. Levine. Here's a money quote from the abstract:
The article contrasts Cohen's rhetoric and underlying approach to professionalism against the anti-Semitism, nativism, classism, economic protectionism, and general elitism often expressed by leaders of the early twentieth century bar who, like Cohen, promoted the notion that law is a profession rather than a business.
Could it be that all these legal ethics professors who have been preaching about how bad it is for lawyers and clients to be partners have been stooges for racists, protectionists, and moneyed elites? Whatever you happen to believe, this is going to make for some interesting discussions.