Last week, a “study” was released by Pacific Research called “Jackpot Justice” that claimed the “real costs” of the tort system was $865B.
The Becker-Posner Blog has now weighed in with Judge Richard Posner sorting through some of the fictitious claims and double-dipping that was used to trump the numbers up as high as possible. Professor Gary Becker agrees with Posner that “the authors of the study considerably exaggerate the cost of the tort system” while he goes on to recommend some of his own ideas to help an imperfect system. (Hat tip to TortsProf)
This debunking can be added to the one from The Blawgletter (Does Tort Litigation Kill People?) the other day.
Ted Frank at Overlawyered loved it, sight unseen.