Sunday, December 18, 2011

The ABA Accreditation Process, the cost of Legal Education and its Impact on the Delivery of Legal Services

One way, and certainly not the only way, to view the ABA accreditation process is that it forms a cartel insofar as it restricts supply. Here, it restricts the supply of lawyers.  Like all cartels it results in distortions in the marketplace. The market evidently could absorb this for some time but they are no longer. Law schools keep churning out grads who routinely take on $200K in debt who have job prospects that do not pay them enough to adequately service the debt.

My sense is the ABA will not change, at least not soon enough. As such, I think the best hope for innovation are those states like California or Tennessee which do not require law students to sit for the bar who go to ABA accredited schools.


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