Lecture10-30

Lecture10-30 - manage future risks without chilling...

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Lecture: Tuesday 10/30 Overview of Part III Tort/Insurance- cultural constraints and the development of policy through the courts Environmental Law- the interaction between institutional constraints and policy complexity Employment Discrimination- putting the pieces together The goal: generate hypotheses about the nature of constraints on judicial policy- making in the U.S. The Problem with Technology Obviously, technology—broadly understood in terms of new products, processes —has vastly improved the quality of life in a variety of ways… But technology has its price Despite efforts to improve the distribution, marketing and testing of technology, harmful and defective products, processes and practices will inevitably emerge… In a fast-paced, mobile and affluent society, these risks are amplified and widely distributed. The policy problem is how to compensate victims of unsafe technologies and
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Unformatted text preview: manage future risks without chilling innovation too much In the next few weeks, well be looking at the role of courts in addressing some of these risks: namely the risks of injury and environmental degradation Definition Tort law- brand of civil law, which deals with wrongful acts involving injuries to person, property or reputation (Note: it excludes damages resulting from a breach of contract.) Insurance- a private contract or public regulatory system, which spreads the risk of individual loss Why the Change? Friedman Arguments Spread of Insurance (which eliminates risk of bankrupting key businesses) Rise in public expectation for compensation (both because of rise in insurance and liberalization of tort law) Technological advances (especially in industrial design) Increase in social distance (and hence greater reliance on courts)...
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