Are We Going Nuts?
Did you think it was funny when that woman sued McDonald’s because the coffee burned her? So did I, until she won that not-so-small fortune in court. Did you chuckle when you heard about the woman suing the tobacco company because they never told her that smoking for decades could kill her? I laughed, too, right up until she won big time
And I never learn. I still thought it was funny when, recently, I found out some nuts are suing McDonald’s for making them fat. But I’m not laughing any more.
Now hear this: The February 3 issue of FORTUNE magazine has a cover story entitled, "Is Fat The Next Tobacco?" According to FORTUNE, that goofy "I couldn’t stop myself and you-made-me-fat" lawsuit is serious as a heart attack, and a forerunner of things to come. To quote: "The war over obesity will be fought in the courts. That’s bad news for Big Food."
You should read the article. It speaks of lawyers who fought tobacco but are now shifting eagerly to "fat" lawsuits. It quotes a college prof who speaks of a possible guvmint "implementation plan" to reduce obesity.
At the same time, physicians retire early rather than face the cost and risk of malpractice suits. Airlines threaten to quit hauling pets, rather than deal with increased guvmint regulation. We are bringing fewer new drugs to the marketplace as the cost of jumping through guvmint hoops to gain approval climbs ever higher.
Will the time eventually come when nobody produces anything because it is just too risky? How can we compete worldwide – which we surely must do to survive – if we must support ever-increasing layers of guvmint regulation to make sure that everybody is protected from everything? Is there to be no individual responsibility left in our country?
Ah, you say, thank goodness I am not in the food business. This madness won’t affect me. Hogwash!
When the costs of goods and services go up it changes everything for everybody. That matters more now than ever before, because we compete worldwide, rather than just in your backyard.
Much of aviation’s income is derived from business-to-business sales. We cannot survive if the rest of business is in the dumps.
Besides, remember the fellow who ran a Cub into a truck a few years back, then sued because Piper designed a faulty airplane back in the 1930s? Have we forgotten all of those product liability suits? We’re in this right now, and have been for decades. It’s just getting worse. There is no aircraft that won’t bite if the pilot ignores the laws of physics. Does that mean every crash will produce huge court losses?
Business produces goods/services when the estimated cost of doing so is less than the estimated income to be thus derived. Any time – repeat, any time – that is not true, business backs off. When business backs off all hell breaks loose.
Business takes huge risks in this country, and that risk is borne by investors seeking profit. Increase costs and the likelihood of profits drops. Then investment drops. Will it eventually stop? How much will we pay for protection of idiots?
These things worry me.
