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Balkinization: Why the "Million Dollar Law Degree" Study Fails Final Post
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It is just as difficult to predict what will happen on the demand side in the legal market as on the supply side. I would think that fewer students will apply to law schools going forward, although by how much remains to be seen. Can we expect law schools to use the S/M JD economic forecast as a promotional tool to fill seats, especially at those below the top tiers? A college grad convinced by S/M to go to law school will be able to test the S/M forecast after 3 - or 4? - years of investment of much time and money. A JD student may learn during that time from his/her law school courses that reliance upon the S/M forecast may not be actionable if the forecast turns out to be wrong.

Follow the money involved with the JD/Student Loan Institutional Complex. While most law schools are not-for-profits, that doesn't mean that they can't make profits, being limited in how they use those profits, e.g., administration, faculty, facilities, etc. Homeowners ultimately have the choice to make between a retractable- and fixed patio awning. Both of these come in a variety of different designs, colours and materials. Retractable awnings are normally favoured as you have the added flexibility to adjust the patio awning on a day-to-day basis as required. You can read more on retractable patio awnings on the dedicated section in this website.
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And where is the focus on the public interest for competent, affordable delivery of needed legal services that Big Law does not provide? Apparently the Complex is not prepared to adddress the public interest. In response to this argument, S&M will likely say that they used the best data available. Homeshabby.com is a collection of minimalist home designs and floor plans from simple to modern minimalist homes.In addition there are several tips and tricks on home decorating various themes.

It is not necessary for things to get worse to falsify the predictive validity of their projected lifetime earnings figures. To match the 16-year slice from which they derived their “historic norms,” the legal market must substantially improve going forward. Their earnings numbers were taken during the peak of Big Law—and if we do not get back to that, future law grad earnings will be lower. No one who follows the legal market, not even the optimists, says we are going back to the peak years of Big Law.
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The latter is what many law grads struggle with today. The percentage of recent law grads who do not obtain initial employment as lawyers is unprecedented—and not by choice. And there is every reason to expect that their earnings will be lower than the earnings premiums S&M found in their study.


My first post in this series was less charitable toward Simkovic and MacIntyre than I should have been. I should have made the same criticisms with a less cara mendesain kamar tidur minimalis harsh edge. Please be also aware that when you leave our website, other sites may have different privacy policies and terms which are beyond our control.
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From our website, you can visit other websites by following hyperlinks to such external sites. While we strive to provide only quality links to useful and ethical websites, we have no control over the content and nature of these sites. These links to other websites do not imply a recommendation for all the content found on these sites. Site owners and content may change without notice and may occur before we have the opportunity to remove a link which may have gone 'bad'. To summarize, I think the legal industry has become unsustainable, much like the financial industry. And while it does not spell doom, the legal industry will have to rebalance itself to more sustainable and natural levels.

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Apparently there is no regulatory agency to protect the interests of the JD candidate/consumer. And there is no out via bankruptcy for student loans. And the JD student's investment loss, unlike an investment in securities, real estate, etc, cannot offset income to lower taxes. Perhaps law schools promoting S/M's forecast should disclose "side effects" in the manner of the FDA requirement for prescription drugs. My first post criticizing Simkovic and McIntyre’s (S&M) study showed how they overstated the earnings premium from a law degree. My second post showed that the only way to make a useful risk assessment is on a per school basis, and that it is indeed risky to attend a bunch of law schools today.

I just discovered this blog and what a great resource! It is a good blog and your posts are very effective. Are insiders of the JD/Student Loan Institutional Complex in fear of their own futures if Brian is right? Or do sites.google.com think they might make it in Big Law if he is right? S/M's forecasting may take a 16 year "norm" to prove accurate, a forecast without penalty but with the reward of continuing on with their present positions secure for 16 years. Frankly, I believe this piling on should be penalized.
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