America is not only home to the world’s largest number of prisoners, but also to world’s largest number of lawyers. Currently there are over 1.2 Million lawyers practicing in USA, which is more than 254 per capita (which is also highest in the world).
The United States spends 2.5% of its GDP (which accounts to $254 Billion) on lawsuits every year. The torts cost per capita have increased by eight folds from $106 in 1950 to $808 in 2009.
Over 15,000,000 Million lawsuits (2 lawsuits every single second) are filed annually in United States, that’s 1 lawsuit for every 12 adults. These facts leave no doubt about America’s great obsession with lawsuits.
According to the BLS national wage estimate through May 2010, the mean annual salary for lawyers was around $129,000.
The great recession may have diminished the ability of lawyers to command a good salary but it has also led to increase in number of frivolous lawsuits. In a recent U.S. survey, just 16% of people said they trusted the legal system to protect them from frivolous lawsuits and 83% of people believe the legal system has made it too easy to make invalid claims.
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