Document Type
Article
Abstract
The two goals of tort law are to compensate victims and to deter unsafe behavior. This paper judges whether changes are needed in the current system by looking at how well it meets these goals. The current system is inefficient and ineffective. Three reforms are analyzed and suggested: contingency-fee reform, the elimination of punitive damages for corporations and large business, and the creation of a no-fault system of compensation for the worst areas of tort law. By enacting these reforms billions of dollars could be saved, while leaving the goals of tort law intact.
Publication Date
Spring 2004
Journal Title
Major Themes in Economics
Volume
6
Issue
1
First Page
49
Last Page
60
Copyright
©2004 by Major Themes in Economics
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Language
en
File Format
application/pdf
Recommended Citation
Koopmans, Ryan
(2004)
"A Look at the Inefficiencies of the U.S. Tort System and Reforms to Correct Them,"
Major Themes in Economics, 6, 49-60.
Available at:
https://scholarworks.uni.edu/mtie/vol6/iss1/6