Notes November 1 - Today's Agenda November 1 2005 Recap...

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Today’s Agenda November 1, 2005 Recap Review Questions for the Tort Law Material The Problem of Regulating Environmental Hazards The “River of Troy” Hypothetical o 1930s: The Problem of Externalities o 1950s: The Problems of Externalities and Scarcity of Resources o 2000: The Problems of Externalities, Scarcity, and High Transaction Costs Review Questions for Tort Law Materials How has American law governing the compensation of accident victims changed over time? How does American law governing the compensation of accident victims differ from other economically advanced countries? How do you account for this change over time and cross-national variation? What does the story of tort law teach us about the CCV versus DCV debate? River of Troy 1930: Externality Undeveloped Land Coal Mine Family Farms (w/ burning “Gob Pile”) RIVER Externality: the burning smoke moving into the family farms Unaccounted for third-party cost.
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