The Coming Crash in Legal Education: How We Got Here, and Where We Go Now
48 Pages Posted: 23 Jan 2012 Last revised: 1 Jan 2013
Date Written: 2012
This paper will first track the ways in which the legal services market has grown and changed over the past forty years. It will then track the major changes that have attended legal education during the same period and the increasing dependence of the legal education industry on student debt. The paper will then explore why, at long last, the boom-times may have run their course and why, at some point, painful changes will likely occur. Though they cannot be described in detail, the author will attempt to outline the likely nature of the changes that will occur. Finally, the paper will briefly explore how the predicted reckoning may yet lead to an improvement in the marketing of legal services and an enhanced role for law schools in preparing new attorneys for the new bar they will be joining.
Keywords: legal services market, legal education, law schools, legal education industry, attorney compensation, attorney salaries, law firms, economic conditions, changing markets, economic change, student debt
JEL Classification: K19, K39, L84, I21, I22, I29
Suggested Citation: Suggested Citation