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From the Boston Bar Journal - Rethinking Law School Admissions Through Accreditation: A Simple Proposal

There is a glut of new law school graduates.  One former law school dean has estimated that there is a need for approximately 25,000 new lawyers each year.  Tamanaha, Failing Law Schools p.139 (2012).  On average, law schools have been graduating almost twice as many lawyers each year. Id.  This situation has persisted since 2009.  One result of this glut is that many well-educated men and women pay (or borrow and pay) up to $200,000 for a law school degree, but then are unable to find employment as lawyers.  There is a market disconnect, an inefficiency of staggering proportions.
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From the Boston Bar Journal: A Modest Response to a Simple Proposal

In his essay, Rethinking Law School Admissions Through Accreditation: A Simple Proposal, Attorney Yurko presents some interesting ideas.  The upshot is a suggestion for greater regulation of the market in legal education, due to a market failure that has resulted in significant student debt load, and an assumed inoculation of law schools from the consequences of lower placement rates.

But legal education does not exist in a vacuum.  There has been a decline in the “market for lawyers” post-2008, as the US economy shifted from a period of relative expansion to one of economic stagnation, and ultimately financial crisis.
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