Is the ABA Accrediting Law Schools?

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The ABA has a self interest in having no new law schools and having current law schools get smaller, he says. But if they do that, it would be embarrassing for the profession to have too many lawyers at one time, Hochberg adds. "This is, it's a big deal," writes Hochman.

Clifford Winston of the Brookings Institution talks with EconTalk host Russ Roberts about the market for lawyers and the role of lawyers in the political process. Drawing on a new co-authored book, First Thing We Do, Let's Deregulate All the Lawyers, Winston argues that restrictions on the supply of lawyers and increases in demand via government regulation artificially boost lawyers' salaries. Deregulation of the supply (by eliminating licensing) would lower price and encourage innovation.