Earlier quoted context omitted.
"The overlawyered US is the richest and most powerful country on Earth by a country mile." Thanks to the lawyers, no doubt. I am sure you didn't meant to say that if we pass some tort reform and limit some nonsense lawsuits (IP, malpractice etc) the country will lose it's wealth /power rank.
The rule of law is a key part of the mix of institutions, geography, culture and luck that have made the USA the richest country that has ever been. And with the rule of law comes lawyers. I know it's fashionable to hate lawyers, but they're a necessary profession. Law is a field in which small details can have very large consequences once the full line of reasoning is unfolded. Because of the importance of exhaustiv…
For more examples, see: http://www.economist.com/node/21541423 - on attempts to reform tort law
http://www.economist.com/news/leaders/21571141-cheaper-legal... - on how US legal education can be reformed to reduce the cost of legal counsel
http://www.economist.com/node/18389167 - on problems with the US' patent laws