Learning the Law of Supply and Demand


Should Economics 101 be a prerequisite course for entering law school? It certainly seems like a good idea in light of a recent New York Times article that discussed how law students this fall are competing for half as many openings at big firms as they were last year in what is shaping up to be the worst job search season for new lawyers in more than 50 years. Some of the biggest law firms in the country have canceled or drastically cut back their law school recruiting at campuses like Georgetown, Northwestern and Yale -leaving students there wondering why they have gone $200,000 or more into debt for a J.D. degree that suddenly appears to be less valuable.

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