Law Schools Grow as Market Shrinks
October 04, 2021
Can the Law school market defy the conventional wisdom of economics, even those as fundamental as supply and demand?
Law school diplomas are such a hot commodity that law school tuition is soaring, at a rate 4 times faster than even that of undergraduate insitutions, according to the NY Times. Furthermore, law schools are increasing class sizes. All this is occurring, unfortunately, during one of the worst job shortages in the legal profession's history.
At Noodle, we have already discussed how law grads have trouble getting jobs, a problem which will only escalate as more qualified young adults saturate the market. "What I've said to people in giving talks like this in the past is, we should be ashamed of ourselves," says New York Law School's dean Richard A. Matasar, "If a law school can't help its students achieve their goals we should shut the damn place down."
How do you think this problem should be handled?