In addition, Jackson's political advocacy group, the Rainbow Coalition, recently opened an office in downtown New York. When critics question this strategy of engaging the economic power structure directly, Jackson said he often refers to a story he was once told as boy.

Two old men are sitting on a railroad track, drunk and tottering. One says to the other, "I'm going to buy this railroad one day." The other responds, "I'm going to sell it, so have a drink on me!"

The moral according to Jackson? "Until the railroad owner's at the table, it's nothing but a joke," he said.

Jackson's speech, part of the Law School's Saturday School program, was well received by the audience yesterday in the crowded courtroom.

"I'm happy that it wasn't based on black versus white or us against them," Charmaine S. Mangaroo said.

A first-year law school student, Mangaroo said speaking about economics made Jackson's message "more legitimate than basically talking about morals."

Other students attended the speech simply to see an American icon.

"I'm psyched to be in the same room with him," Andrew J. Rossi, a first-year law school student, said. "I think he's had significant achievements... simply to be the only African-American to run for president is significant enough."