Reader Astrophel brings to my attention an essay entitled, "The real reason law schools are raking in cash," by Benjamin Winterhalter for Salon.com.
Spoiler alert: the reason is capitalism. Well, that and Richard Posner.
I may respond to the essay here soon, but for now I invite Astrophel to share his thoughts in the comments. He takes the "refreshingly on point" side of the titular dichotomy. I take the other.