Critics over-focus on the supply side, but expanding law school slots by 20-25% would mainly lower the cost of everyday legal services (wills, divorce, real estate, closings) rather than affect high-end activity like mergers, acquisitions, and regulatory work; therefore the estimated premiums largely reflect government-generated demand via regulation rather than the profession's licensing structure, making regulation the deeper problem.

causalpending

Speaker

Russ Roberts

Evidence Quote

the marginal ten to twenty percent say of rejected law school applicants they would not be going into those applications and pushing down the premiums

Source

Clifford Winston on Lawyers 09/5/2011EconTalk
Created: 6/15/2026, 9:26:52 AM

My Notes

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