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The point of punitive damages is to hurt the company. Do you have other suggestions for how to punish companies that harm consumers?
by sundaeofshock 10y ago
The point of punitive damages is to hurt the company. Do you have other suggestions for how to punish companies that harm consumers?
- darklajid 10y agoYou make an interesting point. I will (no snark, I'm serious) try to figure out how this works in my home country and in Europe in general. Because .. I assume they have a strategy for this as well and 'pay a private party a lot of money' isn't something that's possible in Germany. But .. I'm too ignorant to know WHAT the strategy is over here, how companies would be/are being reigned in. Homework.
- vubuntu 10y agoPunish/hurt the company with punitive damages, big enough to discourage negligent behavior - 100% on this Compensate the victims with amount equivalent to their loss(physical) + some decent compensation for emotional losses etc. But that need not be 30X of their actual loss. May be 2x or 3x. The rest of the punitive damages should be awarded to the regulatory body that can improve their oversight, or to a public research body that works on fire safety alarms/products etc for example, or to a public cause/charity that helps fire hazard victims or to a publicly funded affordable fire hazard insurance body etc. I see no need to award all the punitive damages to a single victim. This only encourages the 'sue first and for anything' behavior of the society.