Wednesday, June 24, 2015

A Solution to the Problem of Naive People Overspending on Law School

This solution is simple. Let's go back to the old days, when all you had to do to practice law was to pass the bar exam. That will solve the problem of law school tuition. All the people who think all you need to be rich is the right to practice law will just take bar prep courses before they're disillusioned. 

  This will only address the information problem. A separate problem is short-sighted college graduates who want to put off work for three years and find the government willing to guarantee loans to them to help them delay adulthood. They'll go to law school even if they could skip it and become lawyers right away. 

Or maybe I'm too pessimistic. Those graduates might be happy with the intermediate stage of apprenticing to a lawyer for three years instead of law school. 

https://lawprofessors.typepad.com/law_econ/2015/06/a-solution-to-the-problem-of-naive-people-overspending-on-law-school.html

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