Friday, March 12, 2010
Paul Caron links to a National Jurist post reporting that law school faculties are 40% larger than ten years ago and the number of deans, librarians, and other full-time administrators on the teaching faculties has tripled. A law professor's typical teaching load has dropped from five courses per year a few generations ago to three courses today. Instapundit links to Caron's post, and rightly highlights the comments at the foot of Caron's post from indebted law students, graduates, and their families:
BUBBLE? In the comments to this post, law students are talking about crushing — $150-250K — debt loads and no jobs, and being advised to flee the country since the debt is non-bankruptable. I’m hearing more stories like this, and I wonder if it’s not a sign that the higher-education bubble is starting to burst.
The economics of legal education today seem unsustainable to me. Here is an article of mine on the subject, with more gory details. It was for a symposium on "the ethics and economics of legal education today". Here are all the symposium articles, posted by Paul Caron.
Then again, unsustainability seems to be a theme in much of the country's - and not only this country's - economics and politics today.