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The Lawyer Bubble

A Profession in Crisis

ebook
1 of 1 copy available
1 of 1 copy available
Too many American lawyers are miserable. Though they have chosen a profession that often makes them wealthy and respected, they have high rates of depression and suicide, and the majority of practicing lawyers would counsel young people to choose a different career path. The Great Recession has only worsened matters, as more and more of those young people decide to wait out the bad economy in law school, only to end up competing for a shrinking number of available jobs. Meanwhile, those who are able to get the elusive job in the big firm find that professional values have been sacrificed to short-term metrics.

In The Lawyer Bubble, Steven J. Harper explores how the legal profession came to this sorry state. He investigates the troubling mismatch between the number of lawyers produced and the number of law jobs available, skyrocketing rates of attorney dissatisfaction, and an overall sense that what once made the law a unique vocation is disappearing. He outlines how this much-discussed crisis germinated with the U.S News rankings obsession, the rapid growth in law school tuition, and the use of short-term business school-type metrics to measure success in firms – all of which have intensified during the Great Recession.

As Harper reveals, the numbers are as astonishing as they are disheartening. Though the Bureau of Labor Statistics estimates that only 73,600 legal jobs will be created this decade, 50,000 law students graduate each year, and 85% of them graduate with around $100,000 in debt. Among those lucky enough to find a job that requires a JD, only one in ten will end up working for the sort of six-figure salary necessary to begin paying off that debt. Among those lucky few, even fewer will achieve equity partnerships, which are more and more out of reach as current partners work to increase the ratio of associates to partners in their firms. The game is rigged, yet eager hordes of bright young people continue to step over each other in order to get at jobs with high rates of depression, life-consuming hours, and not as sure a guarantee of financial stability as they expect. No one within the system has any incentive to buck it, and as a once-respected profession devolves into just another business, life is going to become ever more miserable for the vast majority of law students and lawyers.

In this meticulously research and passionately argued book, Harper exposes the dirty secrets of the law’s increasingly troubled state in profoundly troubled times. The Lawyer Bubble is essential reading not just for lawyers and people who want to be lawyers, but for anyone who wants to understand how a once highly respected profession went so wrong, and how it can be restored to its former glory.
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    • Publisher's Weekly

      February 4, 2013
      A former partner at megafirm Kirkland and Ellis burns his bridges in this scathing indictment of law schools and big law firms. Harper (Crossing Hoffa), who worked in the field for 30 years, has a lot of bones to pick with various bodies, and he begins by chastising law schools for misrepresenting the opportunities available to their heavily indebted students after graduation (some alumni have even sued their schools for “deceptive conduct”), and for privileging profit over adequately preparing their pupils for real-world practice. He dutifully lays some of the blame on students for ignoring “the persistent warnings” regarding the current state of law schools and the legal profession, but if prospective law students aren’t thoroughly discouraged by Harper’s initial volley at schools, his fusillade at the major firms should do the trick. He depicts big-firm culture as dominated by profit concerns and built on the leveraging of overworked associates. Some of his suggestions for improving the overall health of the industry are more realistic than others (he proposes, for example, that clients with clout push firms to charge less for services rendered by associates working “unproductively long hours”), and more time could be spent discussing small and midsized firms, but his insights and admonitions are consistently on point. Agent: Danielle Svetcov, Levine Greenberg Literary Agency.

    • Kirkus

      March 1, 2013
      An insider reports on the legal profession's impending implosion. Focusing on two vital institutions, the law schools who act as gatekeepers and "big law," the prestigious firms that set the tone, Harper (Law/Northwestern Univ.; The Partnership: A Novel, 2010, etc.), for 25 years a partner at the distinguished firm of Kirkland and Ellis, now an adjunct professor, is perfectly positioned to reflect on alarming developments that have brought the legal profession to a most unfortunate place. The lawyer bubble, he argues, as with the dot-com, real estate and financial bubbles that preceded it, cannot be blamed on the Great Recession. Rather, it's a creation of those charged with safeguarding the profession, who've abandoned any long-term vision out of greed for money, power and status. In thrall to the U.S. News and World Report's annual rankings, law schools regularly manipulate the methodology that determines the listings; deans focus on the short-term financial performance of their own institutions, encouraging an oversupply of applicants and graduating students into a job market already glutted. Similarly, big law takes its cues from the American Lawyer's list of the nation's top 100 firms, looking to maneuver for position, sacrificing long-established firm cultures in favor of immediate profit and maximum partner reward, and causing widespread dissatisfaction within the ranks. Harper describes associate labor in these firms as depressing, unfulfilling and unrelenting. Most readers will shed no tears at this sorry spectacle, but the author clearly cares deeply about the future of his beloved profession, and he reminds us of a time when a legal career was more about service, collegiality, community and shared purpose. He offers numerous suggestions that might allow the profession to cushion the consequences of the bubble about to burst, but given the pathologies he describes, their adoption appears unlikely anytime soon. Essential reading for anyone contemplating a legal career.

      COPYRIGHT(2013) Kirkus Reviews, ALL RIGHTS RESERVED.

    • Library Journal

      April 1, 2013

      Unlike law professor Brian Z. Tamanaha's Failing Law Schools, this expose is by a lawyer who has worked in the trenches. Experienced litigator Harper (Northwestern Univ. Sch. of Law; Crossing Hoffa: A Teamster's Story) has many of the same antagonists as Tamanaha--namely, U.S. News's rankings and the American Bar Association, which accredits law schools. His biggest complaints, however, are with the giant firms that have transformed law in the last 30 years. Many are organized as pyramid schemes, with junior associates working absurd hours to enable equity partners at the top to make seven-figure salaries. His chronicle of these firms is startling and depressing, particularly because of his report of the widespread dissatisfaction of many lawyers with their jobs and lives. His solutions seem impossible, as rich lawyers aren't going to spread the wealth, no law school is going to close because of the glut of lawyers, and law school professors can't teach practical skills because they have none. VERDICT Readable, well researched, and scholarly, this book will be of use to anyone thinking of going to law school.--Michael O. Eshleman, Hobbs, NM

      Copyright 2013 Library Journal, LLC Used with permission.

    • Booklist

      Starred review from March 15, 2013
      Harper, an attorney and law-school professor, investigates the causes of what he sees as a rapid decline in the sustainability of and professionalism in the legal profession while providing novel solutions. He starts with law-school deans gleefully accepting easily awarded student loans in order to pump naive applicants into a large and expanding pool of underemployed graduates, and he decries the impact of inane law-school rankings on schools' policies, where raw numbers reign supreme despite their proven irrelevance. Harper also points to detailed statistics of (nondischargeable) student debt and the unavailability of legal jobs to display how problems in the legal profession are institutional in nature. Deans and equity partners frequently face the prisoner's dilemma: if every law school or large firm cooks the books, the first to play fair will suffer a severe disadvantage unless all others come clean as well. What surprises Harper is how such damning statistics and examples are unable to dissuade scores of undergraduates who still hope to pursue a career that, according to Harper, will likely not pay off in dollars or in job satisfaction. Anyone looking into a career in law would be well advised to read this thoroughly eye-opening warning.(Reprinted with permission of Booklist, copyright 2013, American Library Association.)

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