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 How Many Law Schools Need to Close? Plenty

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RR Phantom

RR Phantom

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How Many Law Schools Need to Close? Plenty Vide
PostSubject: How Many Law Schools Need to Close? Plenty   How Many Law Schools Need to Close? Plenty Icon_minitimeWed Jun 22, 2016 7:38 pm
The only solution for the surplus of workers with law degrees is a massive, permanent reduction in the issuance of new law graduates.

America is in the opening stages of a massive surplus of over-credentialed workers. The default setting for 50 years has been: if you want a secure upper-middle class salary, get a law degree, MBA, PhD or other graduate-level professional degree.

How Many Law Schools Need to Close? Plenty Student-loans5-16a

The massive surplus is now apparent in J.D.s (law degrees) and PhDs. The writing is already on the wall: there aren't enough jobs for law school graduates, and this scarcity of high-paying legal jobs will only increase going forward. These two articles provide the context:
The tech start-up planning to shake up the legal world (via Lew G.)
An Expensive Law Degree, and No Place to Use It (via Joel M.)

The only solution for the surplus of workers with law degrees is a massive, permanent reduction in the issuance of new law graduates. The only way to achieve this result is for a significant percentage of law schools to close their doors.

What's the percentage that must close to restore some balance? An unfettered market would discover the price of attending law school and the number of schools needed to fulfill diminishing demand for workers with law diplomas.

But we don't have an unfettered market--we have a government-sanctioned system of debt-serfdom. Law students can borrow up to $200,000 for a three-year law program, and so surprise, surprise, the cost of that three-year program is--yup, $200,000.

http://charleshughsmith.blogspot.co.nz/2016/06/how-many-law-schools-need-to-close.html
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