Pacific Research Institute's newest
study on the civil justice system, Jackpot Justice, was featured
in a 3-minute segment on CNBC's "On the Money"
reported by Tyler Matheson.
America’s out-of-control legal
system imposes a staggering economic cost of over $865 billion
every year according to the "Jackpot Justice" study released
early this spring by
Pacific Research Institute
(PRI), a free-market think tank based in San Francisco,
California. This is 27 times more than the federal
government spends on homeland security, 30 times what the
National Institutes for Health dedicate to finding cures for
deadly diseases, and 13 times the amount the Department of
Education spends to help educate America’s children.
The authors of Jackpot Justice: The True
Cost of America’s Tort System calculated that the
nation’s tort system imposes a yearly “tort tax” of $9,827 for a
family of four and raises health care spending in the U.S. by
In this feature story, CNBC's Tyler Matheson
looks closely at the Jackpot Justice report and the ramifications
of the economic costs of frivolous lawsuits, as well as the
absurdity of warning labels that companies must use to protect
themselves against such lawsuits.
Click Here to view the CNBC Clip
Download the PDF of Jackpot Justice