Wednesday, November 26, 2008

America, Capitalism, Socialism, and the Class Action Law Suit

America is great. I love it here. But sometimes we sue each other a lot.

I've been reading today about class action law suits. It never occurred to me before that this is means for redistribution of wealth. American companies do whatever it is they do. Despite what AM talk radio is telling you, these companies aren't so regulated--especially for being companies doing business in a land of plumbing, potable water, gas, and electricity.

Where our European forebears regulate and control, we wait until the wheels fall off, and then we sue. Sometimes this kills a company, but usually they just pass the cost of suits onto the other consumers.

I'm not saying this is good or bad policy. Somethings are over regulated while somethings are under-regulated. And I know of no perfect system or solution.

But I do think my countries litigious nature is a reflection of our laissez fair attitude--laissez fair until someone loses an eye; then we sue.

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