- Law schools are incredibly resistant to the normal forces of the business cycle that may cause some to close if they were in other industries. ("A troubled law school is like Dracula: hard to kill." [After all, there's no blueprint anywhere on how to kill a vampire - ed.])
- There is a coming lawyer shortage. To wit:
Markets tend to overshoot on the way up, and down.And there you have it. Future shortage means now's the time to go. New York Times, people. New York Times.
Thus, the decline in enrollment could lead to a shortage of lawyers five years from now.... And let’s face it, Dodd-Frank and other regulations are also creating more need for lawyers.
Wednesday, November 5, 2014
New York Times: Possible Lawyer Shortage Looming
For those of you who did not like my rambling, too-genius-for-public observations about Thomas Jefferson School of Law, I give you the New York Times via Prof. Steven Solomon. For those of you who have short attention spans and the inability to read prestigious publications appropriately, I will give you the two main take-away points: