I’ve been reading a lot about this in various places and I think the bubble metaphor is the right one. Law school wasn’t a particularly better idea 3 years ago, nor is it a particularly worse one today (even when considering the currently bleak employment picture for new law school graduates). But applications had been going up and up for a while, for no particularly clear reason, and bubbles like that do tend to burst. If you are thinking about starting law school in the next couple of years, can you really assume that the job market of 2015 or 2016 will be the same bleak picture we see today? Can you afford to bet that it will be a lot better? You should go to law school if that is what you want to do and if you are comfortable with the level of risk that you take after weighing it against the risk of not going. If you have always wanted to be an attorney, or if studying the law is what motivates you every morning when you get out of bed, then go for it. Law school wasn’t a sure path to positive outcomes before the recession and it won’t be after the recession is over, but that doesn’t mean it isn’t the right option for you.