If corporations cant be sued, does that mean that theyll provide more jobs or that our economy will improve?
No. Corporations that can’t be sued will become more dangerous, that’s it. Weakening liability laws for reckless corporations won’t bring back jobs or even keep them. For example, several years ago Michigan decided to completely immunize drug companies that produce unsafe drugs. The business lobbies argued they needed the law to encourage drug companies to stay in Michigan. No other state has such a law. No sooner did the law pass than pharmaceutical jobs started leaving Michigan by the hundreds because of changes in that industry. One thing had nothing to do with the other. In 2005, the Economic Policy Institute (“EPI”) released a study debunking common myths about the costs of the legal system and its burden on consumers. According to EPI, “There is no historical correlation between the inflated estimates of the costs of the tort system and corporate profits, product quality, productivity, or research and development (R&D) spending. Evidence suggests that the tort system, without the
