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David Friedman - What Does Law Have To Do With Economics?

The Curious Task

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Will This Rule Deter Future Thieves From Pushing Their Rich Uncles Off Mountains?

The idea of compensating past wrongs with future benefits is not new, says the author. He points to a famous 18th century legal quote saying that we punish in order thieves and murderers will be deterred from doing things in the future. But he argues this doesn't work because economic efficiency treats a dollar to one person as equivalent to a dollar to another people.

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