A recent paper by professors Paul H. Rubin and Joanna M. Shepherd of Emory University School of Law provides striking and counterintuitive evidence that tort reforms at the state level contribute to a decrease in accidental deaths. Rubin and Shepherd found that reforms such as capping noneconomic damages, requiring a higher standard of evidence for punitive damages, and reforming product liability law have resulted in a decrease in the prices of safety-improving goods and services, which in turn has led to greater safety. These findings have profound implications for our tort system: the primary argument for the status quo is the promise of greater safety, but if the current system does not even provide that, its costs must be seriously reassessed.
Professors Rubin and Shepherd will first present their findings at this AEI event, after which a panel of experts will respond. Panelists include AEI resident fellow Ted Frank, who is also director of the AEI Liability Project; Jonathan Klick, economist and law professor at Florida State University; and Alex Tabarrok, professor of economics at George Mason University.
The AEI Liability Project (www.liabilityproject.org) seeks to promote a better understanding of the scope and consequences of the liability crisis and to help ensure that political or legal reform efforts are aimed at the appropriate targets.
EMAIL
PRINT
SAVE
