2 Pages Posted: 11 Mar 2013
Date Written: July 1, 2012
Several years ago, I co-wrote an article on applying the principles from Michael Lewis’s Moneyball book to legal education. What Law Schools Can Learn from Billy Beane and the Oakland Athletics, 82 Tex. L. Rev. 1483 (2004). The article asked what Billy Beane would do as the dean of a law school to capitalize on the inefficiencies in legal education.
Perhaps a better model for the crisis facing legal education today is Jimmy McMillan, who ran for New York Governor in 2010 with the slogan “the rent is too damn high.” Law school tuition is simply too damn high. Administrators and faculty need to ruthlessly examine law school budgets and cut areas that are not essential to the school’s mission. Law school is twice as expensive as it was twenty years ago (in inflation-adjusted dollars), yet no one would argue that legal education is twice as good today.
Law schools need to take immediate action to confront today’s crisis. The current model – convincing 45,000 people each year to assume six-figure debt loads to chase 20,000 legal jobs (most of which do not pay enough to service the debt) – is simply unsustainable. Market and political forces are gathering steam. Law schools that embrace change will emerge stronger from the current storm.
Keywords: Legal Education, Law School
JEL Classification: I20, I21, I22, K29, K49
Suggested Citation: Suggested Citation
By Eric Goldman