Comments on: The Supreme Court, moldy washers and the future of consumer class actions http://blogs.reuters.com/alison-frankel/2013/12/06/the-supreme-court-moldy-washers-and-the-future-of-consumer-class-actions/ On the Case Fri, 15 Jul 2016 20:42:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: masaccio http://blogs.reuters.com/alison-frankel/2013/12/06/the-supreme-court-moldy-washers-and-the-future-of-consumer-class-actions/#comment-2308 Fri, 06 Dec 2013 23:21:49 +0000 http://blogs.reuters.com/alison-frankel/?p=2864#comment-2308 See? Just like the soi-disant public intellectual Richard Posner claims in his brilliant 1985 Columbia Law Rev. article:

My analysis can be summarized in the following propositions:

1. The major function of criminal law in a capitalist society is to prevent people from bypassing the system of voluntary, compensated exchange-the “market,” explicit or implicit-in situations where, because transaction costs are low, the market is a more efficient method of allocating resources than forced exchange. Market bypassing in such situations is inefficient — in the sense in which economists equate efficiency with wealth maximization — no matter how much utility it may confer on the offender. … (P. 1195, footnote omitted)

Of course, nothing stops the Corporate Persons from getting the toady Supreme Court to change the rules so they can’t use the tort law.

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