The Role of Law and Economics in the ExxonMobil Case

Exxon was ordered to pay about $500 million as compensation for the oil spill. The Supreme Court reduced that by an additional 80% down to $500 million, one-tenth of what the original jury found. John Sutter: This decision is part of the rot caused by a trend in legal academia. Money can maybe help undo some of the damage Exxon caused but can it really fix it? He says you can't rely on companies who break the law simply paying out cash to fix everything.