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1、AsbestosandtheFutureofMassTortsMichelleJ.WhiteMichelleJ.WhiteisProfessorofEconomics,UniversityofCaliforniaatSanDiego,LaJolla,California.SheisalsoaResearchAssociate,NationalBureauofEconomicResearch,Cambridge,Massachusetts.Here-mailaddressis.fort
2、hcoming,JournalofEconomicPerspectives.@MichelleJ.White1Legalclaimsforinjuriesfromasbestosinvolvemoreplaintiffs,moredefendants,andhighercoststhananyothertypeofpersonalinjurylitigationinU.S.history.Asofthebeginningof2001,600,000individualshadfiledlawsuitsagainstmo
3、rethan6,000defendantsandthetotalamountthatdefendantsandinsurershadspentonresolvingclaims—includingalllegalcosts—wasestimatedtobe$54billion(Carrolletal.,2002)..Eighty-fivecorporationshavefiledforbankruptcyduetoasbestosliabilitiesandseveralinsurancecompanieshaveei
4、therfailedorareinfinancialdistress(White,2002b).Estimatesofthetotalnumberofpeoplewhowilleventuallyfileclaimsrangefrom1.1millionto3.0millionandestimatesoftheeventualcostofasbestoslitigationrangefrom$200to$265billion(Carrolletal.,2002).Asbestoswasoncereferredtoast
5、he“miraclemineral”foritsabilitytowithstandheat.Itwasheavilyusedasafireproofingandinsulatingmaterialinships,buildingsandconsumerproducts,includingwallboard,roofing,flooring,cement,insulation,drinkingwaterpipes,automobiles,clothing,paper,hairdryers,gardenproducts,
6、homeappliances,artificialfirelogs,andchildren’stoys.EstimatesofthenumberofAmericansexposedtoasbestosrangefrom27millionto100million(Biggsetal,2001).Breathingasbestosfibers—whichcanbemicroscopic–causesavarietyofdiseases.Twoofthesediseases,asbestosisandmesothelioma
7、,areuniquelyassociatedwithasbestosexposure.Asbestosisisscarringofthelungsthatreducesbreathingcapacity;itcanrangefromnon-disablingtofatal.Mesotheliomaiscancerofthepleuralliningaroundthechestandabdomenandisquicklyfatal.Otherasbestosdiseasessuchaslungcancer,gastroi
8、ntestinalcancer,andpleuralplaque(thickeningofthepleuralliningthatisnon-disabling)canbecausedeitherbyasbestosexposureorbyotherfactorsincluding2smoking.Asbestosdiseases
