Today, The Wall Street Journal ran a letter written by LRANY Executive Director, Thomas B. Stebbins, regarding America’s surplus of lawyers – and the corresponding surplus of lawsuits that is draining our economy. The problem is particularly acute here in New York where we spend more on lawsuits than almost anywhere else in the world.
From the letter:
“Chris Fletcher’s “A Message to Aspiring Lawyers: Caveat Emptor” (op-ed, Jan. 3) highlights a disturbing trend: While law schools pump out 44,000 graduates per year, our economy only produces 21,880 new legal jobs annually. Mr. Fletcher fails to identify the dire consequences the glut of debt-saddled lawyers has on our economy.…”