The True Value of a Law Degree, or, Why Did Thurgood Marshall Go to Law School?
10 Pages Posted: 13 Jan 2014 Last revised: 25 Nov 2014
There has been vigorous debate in recent months over whether a law degree is a worthwhile investment. Much of this discussion has focused on whether the economic costs of obtaining a degree pay off over a lawyer’s career. This conversation has largely overlooked the many non-economic benefits of a law degree. In this essay, we seek to re-introduce several non-economic factors back into this important dialogue. We suggest that prospective law school applicants would be wise to consider these non-economic factors in addition to economic ones.
Keywords: Legal Profession, Economic Value of Law Degree, Market for New Lawyers, Types of Legal Practice, Roles of the Lawyer, Thurgood Marshall
JEL Classification: J23, J24, J31, J44, J63, L84
Suggested Citation: Suggested Citation