PHILOS 2Q03 Lecture 32: Lecture 32
31 Mar 2018
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Why should we understand tort law as being economically motivated: we can understand it through its economic structure. Posner: what matters is not how people describe tort law, but how it actually functions: what matters is whether the description being offered best explains how it functions. Sees posner"s response coming but says: even if we ignore the historical terminology of tort law, this is still does not make sense. This is not a very good explanation of tort law because if this were the case, we would be doing tort law horribly we would be given out way too much money. Therefore, posner"s account is a terrible theory. What then would explain the amount of damages we are paying in tort cases: the original theory is the right one: just compensating the victim, this is the only theory that explains why tort law works.
