Thomas's response is interesting, illustrating how right wing ideology must give way before the profit motive. Yes, the beloved Ronald Coase wrote an article suggesting that private suits could be more efficient than regulation. Deregulation has been one of the highest priorities of the Bushies, but so has tort reform because both regulation and law suits inconvenience business interests.
Hitting Lerach must be quite enjoyable for the right wing. What is wierd is that they would need the same person for each of the suits. I doubt that the individual would make much from any or all of the class action suits. Incidentally, Lerach is one of the experts that gets to speak in the Enron film. Why should anyone outside of the US care? Well, we intend to coerce all of you until you all become emulate the US. Remember Marx's quote from Horace, it is of you the tale is told. On Sun, Jul 17, 2005 at 05:13:37AM -0400, Thomas Lepeardo wrote: > In the era of deregulation and lax enforcement, the threat of a private law > suit has been the main threat corporations feel from individuals. Also I > believe that starting in the 1980s there has been an influential conservative > libertarian school of legal thought called "Law and Economics" (from the > subject heading) that argued for massive privatization of regulation and > consumer protection on the grounds that private law suits could handle it > better. > > Now we see where all this winds up. First they get the de-regulation then > they eliminate the lawsuits. > > Thomas Lepeardo -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
