The OBCLers outside of Huldrych Zwingli's Grossmunster in Zurich, Switzerland
I can tell you for certain that I was challenged by this first-hand look at the Reformation. Hope you can make it on the next OBCL study abroad trip!
If state licensing, and state licensing (Bar) exams, go the way of the dodo. What does that do to law schools? In most states, only graduates of ABA-approved law schools are qualified to take the Bar exam. With no Bar exam, what happens to the demand for ABA-approved legal education, or to the demand for ABA accreditation?
At that point, formal legal education would be, at best, a matter of branding, of distinguishing a lawyer from mere providers of "servicios notarios." So, too, would accreditation become a way of branding, with the ABA only one of several law-school accreditors. But would the ABA retain its power if it no longer controlled the gates to the profession?
The golden era is gone, but this is not because the law itself is becoming less relevant. Rather, the sea change reflects an urgent need for better and cheaper legal services that can keep pace with the demands of a rapidly globalizing world. The Great Recession—a catalyst for change—provided an opportunity to re-examine some long-standing assumptions about lawyers and the clients they serve.More here.
Whether BigLaw lawyers, boutique specialists or solo practitioners, U.S. lawyers can expect slower rates of market growth that will only intensify competitive pressures and produce a shakeout of weaker competitors and slimmer profit margins industrywide. Law students will find ever-more-limited opportunity for the big-salary score, but more jobs in legal services outside the big firms. Associates’ paths upward will fade as firms strain to keep profits per partner up by keeping traditional leverage down.
And those who wish to rise above the disruption will have to deal with technology that swallows billable work, a world market that takes the competition international, and a more sophisticated corporate client with vast knowledge available at the click of a mouse.
The problem isn’t that we have too many law trained people and so should train fewer. In fact, in our increasingly regulated economy, there is probably a gross undersupply of law-trained people.
The problem is that regulation has fixed the nature of the product so it hasn’t adequately responded to shifts in demand. The downward demand shifts have been produced by, most importantly, technology. But demand is increasing for new kinds of law-trained people both at the low-cost end of service to the poor and middle class and the potentially high-profit end of producing new kinds of products and services (see Law’s Information Revolution). Yet regulation has locked law schools into models that don’t serve these new needs.
In a real market, the supply side would change. As discussed in yesterday’s WSJ, if nobody’s buying borscht, make more horseradish.