I think that it's wonderful that we live in a world where people can actually aspire to being an "elite", rather than the feudal world mentioned briefly in the

I think that it's wonderful that we live in a world where people can actually aspire to being an "elite", rather than the feudal world mentioned briefly in the article in which there is no glut. It's unfortunate that supply in the "elite" labor market takes many years to respond to actual market conditions, since the pipelines here are inherently longer, but I see this as a side effect of living in a world where those pipelines exist. Demand control is a hard subject, and the graduates of law school who don't get into Sullivan and Cromwell will probably find some other relatively decent job.