Law school and TLS are enablers of this system, where massive amounts of wealth is transferred from the younger generation, cutting their careers and life prospects short before they even had a chance to prove themselves. What is going on is truly a "generational holocaust" and the sooner you decline the invitation to get on the cattle cars, the sooner things will start to change for the better.
Spot on as always, MTal.
However, I do think most TLS kids are quite aware of how miserable and saturated the market is, and those heading to Top 14's with schollys still have a decent shot at Biglaw (except maybe GULC since they've soiled their rep. by becoming something of an over-enrolled diploma mill).
Troll or not troll, this paragraph is a pretty accurate description of what is going on in this country; higher education is but one facet of it. All that accumulated wealth, however, will be passed on to a small portion of this generation and most of them are of the sort that go to top law schools. That is to say, that in addition to being a generational wealth transfer, the transfer is into a fairly small portion of the older generation, as is evidenced by the change in income distribution over the last two decades. Thus, for the elites it isn't so much of a transfer as a generational loan. For the rest, it's a simple, likely irreversible, wealth transfer.
However, I wouldn't be so sure that TLS is as savvy as you think; I wasn't. I went to MVPB with a substantial scholarship; I also had work experience. I'd thought all the inflated job statistics where characteristics of lesser schools, that there was an asterisk next to the chicken little employment articles excepting the t-14 from them. They are not and there is not. As the name suggests, it didn't work out so well for me (and no, grades were not bad. Almost dead median, in fact). There's very little chance that I'll find something that justifies the costs of law school. Most likely at some time in the next couple of months I'll return to the field I was in before law school -with depleted savings, a pile of debt and three years less experience and advancement than had I not gone to law school.