Seth Nichols
11/3/09
Econ of Regulation
Fishback Summary
This paper discusses the introduction of workers compensation in the first two decades of the twentieth century. The idea of the legislation was that in return for lower wages, employees would receive a specific increased set of benefits in exchange for their rights to negligence lawsuits. Prior to the workers compensation the norm was negligence legislation. Essentially the employee had the chance to sue the company for negligence if it was believed to be the cause of the accident. There were many problems with this, the biggest being that the employer had three escape routs. The employers first argument being that the employee had assumed the risk, the second being that a coworker had caused the accident and the last one being that the employee who had the accident had been the one showing negligence.
The main idea of the article is…
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Utopia, you are standing in it! 
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