Friday, March 26, 2010

Inflation and the 7th Amendment

Here is the 7th amendment of the U.S. Constitution

In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law.

Ever wonder what that would read today if it accounted for inflation. According to measuring Worth (http://www.measuringworth.com/) the $20 mentioned in the Amendment would be approximately $500 in 2009 dollars. Would this mean less trials in our courts? who knows. I am assuming if a dispute about an amount less than $500 would not have the right to go to trial.

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