Are law schools heading into a bull market?

The schools of thought are hesitant to say "yes" to this question, but it's a good "maybe."

Article here. (via WSJ law blog, hat tip taxlawprof blog).

The analysis, the writer suggests, is less an endorsement of law school than a recognition of the law of supply and demand.

Says Mr. Weissmann (business reporter at Slate): “The only reason the class of 2016 is looking at a relatively upbeat future is that enough students gave up on the idea of becoming lawyers amid a market that was flooded with jobless young people.”

In other words, the only reason it looks good now is because so many people decided it looked terrible a few years ago.