It has had a ruinous effect on the state's economy. The jury box in Miss is a Spite Venue--they are chosen to Sticking It To The Man. The Man being whoever has enough money to take away.
One small example of how it works--suppose you are a class-action lawyer and want to sue a drug mfger. You drag your local pharmacy into court (to establish how this drug relates to Miss) so that you can also drag the drug company to Mississippi. What do you think this does to your pharmacy, especially when it happens time and time again?
Did you know Gov Haley Barbour is signing major tort reform bill?