Monday, February 6, 2012
The law school crisis, in 25 words or less: Half of all current law students aren't going to have real legal careers at all, and more than half of the remainder aren't going to make enough money as lawyers to justify the combination of educational debt and opportunity costs they incurred while becoming lawyers. (OK that's more than 25 words but still not bad for an academic).
Of course these extraordinarily grim figures will affect different law schools in very different ways: at the top schools "only" 20% to 30% of their graduates, perhaps, will end up in dire straits, while at the typical law school the figure will be more like 80%-90%. But it's already gotten bad enough that even the Harvards of the world are starting to notice. And that, in its own perverse way, is real progress.