Wednesday, May 02, 2007

Tort Solution

There is an interesting solution for excessive product liability judgments in the Journal today – make products only subject to the product liability laws of the state they were purchased in, and charge a premium in states with product liability laws that favor the plaintiff. Consumers could choose whether the extra cost is worth the right to a frivolous lawsuit, and if enough consumers buy out of state, retailers will pressure the legislature to change the laws.

I’m not sure how feasible this is, but I like it.

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