I recently came across this article from Steven Harper, called The Entire Legal Profession Is On The Verge Of Imploding.
It is a very ominous title but upon reading the excerpt posted, it sounds like The Law Bubble he spends the article discussing and the legal profession are not related. The Law Bubble he describes is the process of people choosing to go to law school and the job opportunities available after licensing. The legal profession isn’t described, but should be the providing of legal services. Clients still will need legal services long after The Law Bubble implodes. For a while, clients will have a plethora of lawyers to choose from, but eventually supply will diminish as talent goes elsewhere.
Really, there is more legal work out there than current lawyers can do. The true challenge is finding clients that can pay for their legal needs. As I tell any visitor asking me about law school, I recommend against it unless she is absolutely determined to be a lawyer. Having a J.D. simply to have it or because you think it will be helpful in a non-law position is a waste of money unless that position specifically calls for a J.D.