I’m a wondering if a libertarian/ anarcho-capitalist would support measures of banning or limiting tort reform. A lot of discussion has come up how the republicans want tort reform to lower costs. Is there any proof that it would lower costs and if it would, is it libertarian to approve of such measures?
The Anarcho-Capitalists(ACs), like myself, do not believe in any regulations imposed or enforced through the use of violence. ACs believe that tort reform and tort law more generally are immoral, inefficient and unjust. ACs believe that tort law should be handled in the market place between arbitrators selling their services to individuals and insurance companies. ACs also believe that the purpose of this practice is solely to provide restitution to the victim from those persons responsible for the damage, and only those persons. Note that there are not limits on the damage that one person can do to another and therefore there are no limits on the restitution other than what the persons doing the damage may have to pay.
As for minarchists, I am providing my impression from some writings of Ayn Rand. She proposed “Rational” tort law focusing on providing restitution for victims from ONLY those who can be found culpable through the use of reason. She would be against the current system of lawsuit lotteries and giant bills for medical malpractice based upon emotional responses of judges and juries to the plight of victims.
It is likely but not certain that limiting tort payouts would reduce the costs of insurance. The issue here is that with tort limits, the damaged individuals will not be provided full restitution for damages against them. So “tort reform” will only hurt the victims at the expense of the persons doing the damage.
No, Liberterians should be against limits on tort actions and should be for market based use of insurance companies and arbitrators to decide culpability in this matters. Note that being against limits on torts is not the same as being for the disaster of a tort system in existence at this time.
Thanks for the reply. I assumed this was the position for a libertarian/Ancap. A republican friend of mine was a bit curious of my position and asked, “frivolous lawsuits are NOT a problem?” And I said No.
Please include the reasoning to your friend. That is no lawsuit is frivolous, only the verdict can be frivolous.
If I understand correctly, it is currently illegal for a doctor to have the patient voluntarily wave the right to sue. Somebody can correct me if I’m wrong on this.
But if this the case, then all that is needed is to remove this original restriction.