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The Death of Liability
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Journal Article
The Death of Liability
1996
Overview
The complete failure of the liability system - that is, the system by which injured persons recover money damages from those who injure them - is predicted using a systems/strategic analysis. The liability system operates according to 9 basic principles, through the entry and enforcement of judgments. The principles are so fundamentally a part of our culture that to change them is unthinkable, yet adherence to them renders the system vulnerable to defeat by a variety of judgment-proofing techniques. Computerization has reduced the costs of pursuing these strategies, making them cost effective for larger numbers of potential defendants. As judgment proofing spreads, the cultural and political barriers are declining, leading to wider use of the techniques and ultimately to system failure. None of the radical counterstrategies the system might employ, including shareholder unlimited liability, involuntary creditor priority, asset-provider liability, enterprise liability, mandatory insurance, and financial responsibility laws, is likely to be effective in preserving the system in anything like its current state.
