Critics of lawsuit abuse focus on the cost of litigation, but the bigger harm is that fear of lawsuits itself deprives us of good things.
We don't even know how many wonderful life-enhancing products we might
have today if innovators didn't live in a climate of fear.
I don't suggest that we should be at the mercy of rip-off artists. Some lawsuits are useful -- if businesses commit theft or fraud, they should be sued. But American law (SET ITAL) encourages (END ITAL) suits. In other countries, if you sue and lose, you and your lawyer must pay the court bills of the people you dragged into court.
When I started consumer reporting, I believed that only legal rules could protect us. But it's not true. The rules just give us a false sense of security.
The free market does a better job protecting consumers. Competition protects us.
Repeal most of the laws. Let the market work its magic.
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