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High cost losses won't necessarily do that either. The fallacy is that these transactions have to be financial. They don't. Any number of other remedies - fro
by TheOtherHobbes 4y ago
High cost losses won't necessarily do that either.
The fallacy is that these transactions have to be financial.
They don't. Any number of other remedies - from jail time downwards - would provide a stronger deterrent.
Without strong deterrents and the threat of even more expensive class action - possibly leading to personal ruin - individual losses can be written off as a cost of doing business.
Generally the sanctions for bad behaviour are far too light, and strongly biased towards business owners over customers/victims.
The Sackler/Purdue story is a perfect example. Inconceivable levels of harm were caused - far more harm than a high profile terrorist attack. But the Sackler family is still worth billions. And no one is going to jail.
- giantg2 4y agoGenerally agree. Companies can mitigate the costs through insurances and just passing on costs to customers.