Torts Today: Fact More Fantastic Than Fiction
November 10 in Loser Pays, Tort History, Tort Reform by admin 3 CommentsIn America, and particularly in South Carolina, our system of civil liability adjudication has become a major industry of its own. Direct tort costs alone (attorney fees, settlements, expenses, and court costs) account for over 2.2 percent of our gross domestic product, over 2½ times more expensive than the average of other industrialized countries. But these direct costs capture only a small portion of the total societal costs of the imbedded, fear factor costs in our run away tort system. The hidden cost of tort liability adds 30 percent to the cost of step ladders,
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