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Mr. Tourre's fate will not deter wrongdoing at high levels.
This seeming windfall for undamaged "victims" may help deter wrongdoing.
That's a profoundly unwise strategy that would encourage, not deter, wrongdoing.
Fines are intended as punishment; they are imposed by society to deter wrongdoing.
But how much of a penalty should such suits exact, above and beyond compensation, in order to deter wrongdoing?
Sentences have become much harsher recently, in an effort to deter wrongdoing as the end-2006 deapproachesroaches for China's financial market to open fully to foreign competition under its commitments to the World Trade Organisation.
Similar(47)
Because to my mind, there are tangible benefits to prosecuting crimes - it punishes wrongdoing, it deters wrongdoing, it makes it clear that certain actions will be met with legal consequences.
If we truly want to deter future wrongdoing, we should move increasingly toward exposing individual misconduct and holding individuals accountable".
So the way to deter future wrongdoing would be to punish individual executives, he says.
And even though a $1.5 billion penalty is large by historical standards, there is little reason to believe that such fines, disconnected from criminal charges against bank officers, will deter future wrongdoing.
The two tobacco companies tried unsuccessfully to argue that high punitive damages, which are meant to punish and deter egregious wrongdoing, were unnecessary because the companies are complying with some new restrictions on tobacco advertising and sales that are part of the industry's $246 billion settlement with the states.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com