Economic Efficiency & Corrective Justice Theories

Explain the economic efficiency theory of tort liability and describe the reasoning behind this theory. Then, using the factory example in Section 5.3 of our digital book, show how the economic efficiency theory works to provide the factory owner with an incentive to avoid harm in the first place and therefore serves as a deterrent.
Explain the corrective justice theory of tort liability and describe the reasoning behind this theory. Then, using the factory example in Section 5.3 of our digital book, show how the corrective justice theory works to provide justice in the sense of “undoing the injury.”
Compare and contrast the economic efficiency and corrective justice theory by pointing to at least two key differences between the two approaches and point to the theory you find most persuasive, explaining your reasons why.
Did you describe in detail the economic efficiency theory of tort liability and relate it to the factory example?
Did you describe in detail the corrective justice theory of tort liability and relate it to the factory example?
Did you describe in detail at least two key differences between the economic efficiency theory and the corrective justice theory and explain which one you find most persuasive?
Did you cite your sources using in-text citations and match them up with references in APA format at the end of your paper?

Sample Solution

ACED ESSAYS