"The law of products liability has undergone numerous changes -- some major, some minor -- that have, taken together, profoundly increased the probability that a successful suit for damages will be brought against the maker or seller of a product." The courts' motives for the expansion of liability have included cost-internalization, risk-spreading, and the provisions of incentives to design safer products -- but early signs of distress from fields as diverse as vaccines and machine tools suggest that the new law may carry with it many surprising costs and unintended consequences.
Continue reading Products Liability: The Gathering Storm.

