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Free markets in no way preclude torts. If your ... snake-oil medicine kills somebody, that's a tort. Taken properly, this means you won't just lose one lawsuit,
by ArkyBeagle 11y ago
Free markets in no way preclude torts. If your ... snake-oil medicine kills somebody, that's a tort. Taken properly, this means you won't just lose one lawsuit, you'll enjoy the legal equivalent of being bombed back to the stone age.
Free markets only work if there is good and efficient law. Indeed, David Friedman has written extensively on this very subject. His "Machineries of Freedom" is excellent.
- cbd1984 11y ago> Free markets in no way preclude torts. I just said they allowed torts. I also explained why torts alone are insufficient.
- ArkyBeagle 11y agoIt looks very much ( to me at least ) that tort law keeps us a lot safer than regulation. It's may be impossible to isolate factors to really say - both grew up together. It may be that both are required. It may also be that regulation or other public safety standards are necessary for the proper operation of tort law.