• 14. The Political and Judicial Elements of American Capitalism
    Articles,  Blog

    14. The Political and Judicial Elements of American Capitalism

    Prof: Okay, so heretofore in this course we have treated government as one of two things: either, as in de Soto’s frame of reference, a guarantor of property rights; or as just background material, as with Smith, where the gravamen of Wealth of Nations and the invisible hand story is to encourage governments to allow free markets and free trade. There’s not much talk about governments and how they behave. And today I wanted to correct that deficiency a little by talking about government, and in particular, about the government of the United States. Then turning to the Vioxx, the Merck-Vioxx case, and looking at a little bit of video…

  • Thacker v. Tennessee Valley Authority [SCOTUSbrief]
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    Thacker v. Tennessee Valley Authority [SCOTUSbrief]

    Thacker vs. Tennessee Valley Authority is a case about a fisherman who got hurt out on the water. He blames the Tennessee Valley Authority which has supervision over the waterway for causing his accident. The Tennessee Valley Authority was replacing some conductor power lines that stretch over and across the river. One of those lines fell into the water. That obviously creates a hazard for boaters. The TVA knew that. They contact the Coast Guard, which is their emergency protocol. The TVA also has a couple of patrol boats that come in the area. Thacker and Szozda come in at about sixty miles an hour, hit this conductor line that’s…