Monthly Review on Tort Reform

An interesting piece by Michael Perelman:

Given the absence of criminal penalties for corporate misbehavior, society needs an alternative means to protect itself against corporate abuses.  Ideally, effective regulation might help to keep corporations in line, but the regulatory structure in the United States is embarrassingly weak.

Of course, it’s not accurate to say there are no criminal penalties for corporate misbehavior, but the rest of the piece pulls together some useful data and includes a recognition of the resources that are wasted through litigation.