In The Liability Maze experts address the issues surrounding safety and innovation and present the most detailed and comprehensive study to date on the actual impact of U.S. liability law. They suggest that in many sectors liability law has hampered innovation. In others it has stimulated safety improvements, although perhaps not so much as has vigilant safety regulation.
Liability cases generate $100 billion annually in legal costs and judgments; as a result, rates for liability insurance have soared, arguably causing corporations to stymie innovation from fear of additional risk. Scientists, engineers, physicians, and attorneys analyze the issue as it impacts the automobile, chemical, general aviation, and pharmaceutical industries, and the delivery of medical services. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Robert E. Litan is a senior fellow in Economic Studies at the Brookings Institution and vice president for research and policy at the Kauffman Foundation. Among his many books is Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity (Yale University Press, 2007), written with William J. Baumol and Carl J. Schramm. Peter W. Huber is a senior fellow at the Manhattan Institute and counsel to Mayer, Brown & Platt in Washington, DC.