3 ms·
I find this to be a very interesting idea, although I'm still a little dubious about it. I first heard it from an interview with famous Libertarian [Milton Fri
by waffle_ss 14y ago
I find this to be a very interesting idea, although I'm still a little dubious about it. I first heard it from an interview with famous Libertarian [Milton Friedman][1] (whom I adore) in his twilight years. The self-regulating mechanism of a system like this would be tort law, allowing consumers to sue companies if they haven't done adequate research and testing on their drugs before selling them. I have mixed feelings about this because I have a hard time picturing a class action suit being able to adequately take on a large pharmaceutical company with its own dedicated legal department.
[1]: http://www.youtube.com/watch?v=KUDV0YII6lk&t=4m10s http://www.youtube.com/watch?v=KUDV0YII6lk&t=4m10s
- ef4 14y agoPeople win class action suits against big corporations quite frequently. And the pharma industry's own actions show that they know they're vulnerable to torts. That's why they lobbied for laws like the Vaccine Act of 1986, which limits their liability for damage caused by vaccines.