Is litigation driving a “financial” precautionary principle?

In an abstract sense, precaution means acting in the present to avoid harm in the future, particularly when the likelihood of harm is uncertain. One may carry an umbrella in case the weather changes or wear a seatbelt without expecting an accident. Precautionary measures are taken despite their known or unknown side effects—trial vaccinations come to mind.

In law, the precautionary principle is a heavily ideologized concept. At one end of the spectrum...Read full article