HIGHER EDUCATION BUBBLE UPDATE: The Hard Business Problems Facing U.S. Law Faculty. “Institutional change is extraordinarily difficult. But I think it is extra hard for law schools. Law faculty have little or no experience making high stakes business decisions, yet we control curriculum and appointments, which are the areas that need major rethinking. Talk is cheap–and we specialize in talk.”

I had some related thoughts in Small Is The New Biglaw, a couple of years ago. They seem to be holding up.