Thursday, November 12, 2009

Endogenous Change in Tort

Maybe the Return on Investment for lawyers will either (a) run up the costs of legal action; or (b) decrease the supply of lawyers to the point where tort reform is not an issue.
Funny how the Right trusts the market to allocate doctors efficiently, but not legal services. Seems like market signals are working more appropriately in the latter than the former.

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