Lawyers, the economy, and society

Authors
Citation
Fb. Cross, Lawyers, the economy, and society, AM BUS LAW, 35(4), 1998, pp. 477
Citations number
82
Categorie Soggetti
Law
Journal title
AMERICAN BUSINESS LAW JOURNAL
ISSN journal
00027766 → ACNP
Volume
35
Issue
4
Year of publication
1998
Database
ISI
SICI code
0002-7766(199822)35:4<477:LTEAS>2.0.ZU;2-O
Abstract
Lawyers and litigation are often blamed for harming the United States econo my, and some empirical evidence purports to demonstrate this harm. A series of empirical tests are used to investigate the association to determine it s sensitivity and robustness. The tests show there ir; no material associat ion between lawyer numbers and the economy, once other variables are consid ered. Past associations are attributable, to reliance on a particular set o f data with some reliability problems. Breaking down the study into the com ponent parts of economic growth, such as investment or human resources, dem onstrates the lack of association. Moreover, there is no association betwee n tort litigation costs and economic growth among developed countries. Ther e is, how ever, a statistically significant association between lawyer numb ers and the level of political rights and freedoms in a nation.