Recently, Vice-President Dan Quayle upset the American Bar Association’s annual meeting by giving a speech questioning whether the United States, with 5 percent of the world’s population, really needs 70 per cent of the world’s lawyers. University of Texas finance professor Stephen Magee has put numbers to Quayle’s criticisms. He claims that his research suggests that the real cost of lawyer induced civil suits reduced the national GNP by 10 per cent during the 1980s. Word format.
