At least before he tears into environmentalists.
Epstein, Richard A. 2010. “BP Doesn’t Deserve a Liability Cap: The best way to deter future spills is to expose drillers to the full costs of any mistake and not let any company without proper insurance near an oil derrick.” Wall Street Journal (16 June).
“What’s needed going forward is a comprehensive legal strategy that addresses the risks though a combination of regulation before the fact and tort liability (and criminal sanctions where appropriate) afterwards. Tort remedies are essential to protect people (and their property) who do not have contractual relations with defendants from harms such as air and water pollution. The legal system should never allow self-interested parties to keep for themselves all the gains from dangerous activities that unilaterally impose losses on others — which is why the most devout defender of laissez-faire must insist, not just concede, that tough…
View original post 175 more words
Utopia, you are standing in it! 
Recent Comments