The legal industry changed after 2008, at least for larger firms. They started needing to compete on price for one thing, whereas they could largely charge what

The legal industry changed after 2008, at least for larger firms. They started needing to compete on price for one thing, whereas they could largely charge what they liked before. Clients became very selective of what they chose to litigate very quickly, presumably based on cost/benefit analyses they had taken for granted in the past. That doesn't sound like a shift on the supply side to me. Also, a substantial amount of legal employment used to be in doing things like document review that can now be handled by software. This could be seen to be augmenting the supply factor, since it automates what lawyers used to do.