It makes very little legal sense and, for all intents and purposes, is fundamentally antithetical to a free market, capitalist society. Its underpinnings can be traced to Germany’s Second Reich and its first chancellor, Otto Von Bismarck. It has ties to Marxism and socialism, and its evolution has been fueled by populism and social revolution. It was America’s first tort reform initiative and was the “Obamacare” of the early 20th century — and every bit as controversial. Its very concept runs contrary to the principles underlying the American system of civil justi...
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