Law School Bubble: Don’t Go to Law School

Institutional anachronisms make innovation in legal education difficult. With advancements in other parts of the economy, law's school's value is murky.

Some say the law school marketplace is due for a dramatic crash. It has weathered the Great Recession (mostly), and concurrent trends of increasing legal education cost, decreasing legal employment, and the impact of debt financing on student decision-making are setting the law school market up for a crash. The law school bubble may be less precarious now than in the aftermath of the Great Recession, but there remain signs of weakness in the marketplace. Coupled with some institutional anachronisms that make true innovation difficult and some (mostly technological) advancements in other parts of the economy, the future value of legal education for most people is in some doubt.