Rantings and tirades of a frustrated economist.
Well,Some who major in law then specialize in fiscal law and make a fortune consulting customers on how to cut taxes.Usually fiscal lawyers can even charge a percentage of the tax savings instead of mere consulting fees.While law in itself is not a productive area and does not produce wealth, due to the complexity of the tax code there is a fortune to be made there if you major in fiscal law and fiscal accounting.
After 25 years as a law talking guy my advice to those who asked was "Go to med school". Well, Obama nixed that so now I tell em....become a Master Plumber. The crap will always flow and when it doesn't....you da man.
Do you want a degree in something worthless or something that will be obsolete in a few years?
Also check out "Law School Confidential"http://www.amazon.com/Law-School-Confidential-Complete-Experience/dp/0312605110/ref=la_B001H6MWIO_1_2?s=books&ie=UTF8&qid=1386394476&sr=1-2Made me avoid law school in 2003.
As someone who graduated law school, law school is a hustle. They charge a ridiculous amount of money and if you get a successful job they take credit and want you to donate because "they helped you get where you are". If you don't find a job or are underemployed or don't work in law (and not by choice), they relinquish all responsibility.I wouldn't recommend law school. It is 3 years and $90,000 on the cheap side (assuming no scholarship). With that money you can start a business. That being said, most law graduates are getting jobs. So if you want to bite the bullet and go to law school:1. Make sure you actually need a law degree to do what you want to do, i.e. don't go to law school unless you want to be a lawyer.2. Keep your costs down. Go to a state school. Commute from home if you have to. Go to places that offer you a scholarship. 3. Anticipate that you may not get a job and be prepared to start your own firm. About 35% of lawyers are solo. I know people that started their firm the very afternoon they were admitted to the bar. 4. Specialize in an area of law where you can make money. Do not take courses with the aim of "saving the world" e.g. environmental law, feminist jurisprudence, critical race theory, poverty law, etc. Do not work for the government or "non-profits". Rich lawyers have rich clients, poor lawyers have poor clients.5. Network and be social. This is crucial!6. Get experience working at small law firms. You have to show people you know how to do legal work.7. Go to a top 14 law school or8. Graduate at the top of your class at a somewhat lower ranked school. It is better to graduate top 10 in your class at a school in the 60-70 rank than to graduate at the bottom of your class at a school in the 40-50 rank.
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