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Study Finds Tort Reform Frivolous

Changing the U.S. tort system will have little effect on the economy and might even hurt job creation, according to a recent study from the Economic Policy Institute, in Washington, D.C.

By staff Writer | Updated on August 04, 2005

Changing the U.S. tort system will have little effect on the economy and might even hurt job creation, according to a recent study from the Economic Policy Institute, in Washington, D.C.

“Tort litigation has been blamed for a host of ills: driving liability insurance premiums to excessive levels, reducing real wages and overall employment, undermining corporate profits, dampening productivity growth, and discouraging research and development,” wrote the study’s authors, economist Lawrence Chimerine and attorney Ross Eisenbrey. “But macroeconomic trends since the early 1990s are especially inconsistent with the argument that supposedly high and rapidly rising tort costs have inflicted serious harm on the economy.”

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