That's the estimated cost to a law school for a law review article by a faculty member:
Neumann’s estimate assumes the professor spends up to 50 percent of his or her time on scholarship and writes one article a year. The figure is based on salary, benefits, possible research grants, and the cost of research assistants.
This strikes me as analytically wrong. A faculty member who writes one article a year probably does the vast majority of that work during the summer, which means that the cost is largely confined to the summer research grant.