Legal Commentary

Apparently NYU law students have developed an informal market for space in law school classes.  As reported in a recent New York Post story, some students have posted offers of cash and other goods in return for class spots.  According to new NYU registration guidelines, the practice of "ad hoc add-drop" with no waiting list forced law students to "troll for open spots or arrange late-night trades with friends."  My first reaction is that ability to pay should definitely not affect class access.  And I assume that angle is what got the Post's attention, as suggested by the somewhat cryptic headline, "NYU Law's Classless $wapfest."  (The article also suggested that other non-cash types of currency were proposed, although the students interviewed said these were just jokes.)  So, should students be able to trade goods or cash for class spots?

The Post story notes that the registration process is changing in 2009-10, but leaves out the fact that NYU Law's new system also creates a market for classes.  The system drops the lottery system in favor of an auction in which students bid points for class spots.  In addition to popularity of subject matter (the Post article listed Environmental Law and Capital Punishment), I wonder if down the line the information from this system will rival student evaluations as a way of gauging how much a student is willing to pay for the various classes and professors.  Is this auction system a current trend?  Is it a good idea?