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What Could Disrupt Diversity in Law? The Economy, Stupid.

diversity“It ain’t happened yet, and that’s what intuition is.” – Kanye West

In the 1997 movie The Devil’s Advocate, Al Pacino’s character (aptly named John Milton) asks Keanu Reeves’s character (Kevin Lomax), “Did you know there are more students in law school than lawyers walking the Earth?” With an estimated average of 44,000 students graduating per year, there are six new lawyers battling for every job. In 1971, there was one lawyer for every 572 Americans. By 2000, there was one lawyer for every 264 Americans. The legal sector tripled between 1970 and 1987, but has grown at an average annual inflation-adjusted rate of only 1.2% since 1988. Perhaps the recent drop in law school attendance will improve this ratio (if the demand remains unaffected). How will the “new normal” affect diversity in Biglaw and the legal industry in general?

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‘The Gilded Age of Biglaw’: Biglaw Culture Breeds Big Bonuses, But Little Diversity

“To whom much is given, much is tested / Get arrested, guess until he get the message” –Kanye West

upset asian lawyer

In his 1936 DNC Renomination Speech, Franklin Delano Roosevelt pronounced, “There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny.”  From the Great Depression to World War II; from The Great Gatsby to Pearl Harbor; from the Silent Generation to the Baby Boomers; and from Generation X to the Millennials, it is damn near impossible to comprehend everything FDR’s generation has been through and witnessed. It is no wonder why Tom Brokaw named FDR’s contemporaries as the “Greatest Generation.”

There is much progress to be made in our society to be sure, but over the last 100 years we have endured so much, learned so much, and have evolved into a much more civil society. Growing up, I remember my dad was always watching Peter Jennings.

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‘Ball Don’t Lie’ – What Percentage Of Biglaw Partners Are White?

“You might think you’ve peeped the scene/ You haven’t, the real one’s far too mean/ The watered down one, the one you know/ Was made up centuries ago.”   – N. Minaj, K. West

white male white man businessman partner old

In 2009 Bill Simmons, ESPN columnistand Grantland.com founder, began the popular “30 for 30” documentary series. Simmons wanted feature-filmmakers to recount intimate sports stories, people, and events that were compelling to them, but had not been fully explored by society. Each 30 for 30 show is promoted by asking the question, “What if I told you…” Consider this my “30 for 30″ literary column. [Dramatic pause] “What if I told you 92% of all Biglaw partners are white?” [Intro music, “All of the Lights” by Kanye West]

In 1986, Goldman Sachs needed or at least accepted a $500 million capital injection from Sumitomo Bank. The Japanese Bank was anxious to learn about the world of investment banking and willing to fork over $500 million for a minority stake in Goldman and the right to send two dozen interns to America to learn from America’s finest investment bankers – Goldman Sachs.

Through pure strategery, Goldman was able to persuade the Federal Reserve Board of Governors to set a quota on Japanese interns (that’s why Goldman gets paid the big bucks!) The government limited Sumitomo to two – not two dozen – interns, and Sumitomo’s two interns could stay in New York for only twelve months before rotating home. Agriculture protectionist policies don’t seem so bad now, do they? It may be hard to believe, but in the eighties many feared the Japanese were buying up America. We all arrived here differently. Our present situations are all different as well. Perhaps this is what leads to misunderstandings. But with the proper communication, it can also lead to resolutions. Some Africans were forced here, some Japanese bankers tried to enter through the back door.

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