WRM notices that law school is not the attractive option it once was. Full essay here. Excerpt here:
American economic life used to be full of escalators; if you got on one, your income would gradually and almost unavoidably rise. Now it is more like a rock climb, where everyone has to find their own way to the top. Lawyers were among the country’s most dedicated escalator riders, moving from associate to partner and up the scale in income and prestige. These days that strategy works for fewer and fewer people at fewer and fewer firms; the next generation of lawyers will have to reinvent their profession, and the reshaping of the profession will also transform the field of legal education.
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