SOMETHING ELSE I DIDN'T KNOW

Paul Krugman points out that Austrian libertarians prefer tort actions to government regulation:

Why Libertarianism Doesn’t Work, Part N
May 14, 2010, 1:40 pm

Thinking about BP and the Gulf: in this old interview, Milton Friedman says that there’s no need for product safety regulation, because corporations know that if they do harm they’ll be sued.

Interviewer: So tort law takes care of a lot of this ..

Friedman: Absolutely, absolutely.

This is the same solution that Walter Lippmann offered in The Good Society (originally published in 1937). I'm not claiming that Lippmann is a libertarian, I'm only pointing out that he seems to be quite a bit different from Glenn Beck's description: "He is just evil stuff. "