Not to go in for cheap lawyer-bashing, but was just chatting with a college buddy who complained that a "startling" percentage of social science majors were channeling their quarterlife confusion into law school applications. That tracks with my recollection too, where there just weren't a lot of obvious career paths save law school for smart kids lacking technical skills. If we're overproducing lawyers, though, there's going to be a pernicious Say's Law effect, wherein the oversupply of lawyers begins creating its own demand (of lawsuits). Something similar goes on in medicine, where the oversupply of doctors, particularly in certain specialties and regions, leads to massive over-treatment.
That's all sort of a shame, because if you're going to have ill-defined careers that suck up inordinate amounts of smart graduates, you'd probably want them in sectors where excess participants could invent cool things, like engineering. On the other hand, my engineering friends complain that the overwhelming majority of jobs in that sector come from defense contractors -- and supply definitely creates too much demand in that stuff. But maybe engineering could work with some new national investment strategies. Or maybe people should just learn a trade.