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Starting to think unfettered capitalism is a problem.
“Since the EPA began tracking plastics recycling in 1994, when the U.S. recycled less than 5 percent, the rate went up only about 5 percent, peaking at 9.5 percent in 2014.” Meanwhile, the plastics lobby spends millions to keep the govt from regulating plastics.
Imagine if we had a legal system that made corporations pay for the externalities (like pollution) that we all pay for instead, rather than one who priorities the very corporate shareholders who profit from unaccounted for externalities and resulting production inefficiencies?
This was one of the most important lessons I learned in law school, from a progressive law and economics professor who taught me corporations. Our current liability standards make it next to impossible to hold corporations responsible for the full harms they cause.
Markets aren’t “efficient” if corporations never have to pay for the negative effects of their output because burdens of proof/causality standards are too high.
Professor Hanson was a big fan of expanded enterprise liability. Maybe I’ll ask him on #hearthrbern to discuss.
Professor Hanson was a big fan of expanded enterprise liability. Maybe I’ll ask him on #hearthrbern to discuss.
