Tuesday, December 14, 2004

Gun Shop & Gun Maker Agree to $2.5million Settlement over Snipers

I posted a lengthy response to a comment I received on this, and decided to republish the post...

YES! News reports say that Bull's Eye Shooter Supply of Tacoma agreed to pay $2 million to survivors and families of victims of the notorious Washington, DC snipers (John Allen Muhammad and Lee Boyd Malvo). Gun maker Bushmaster Firearms Inc. of Windham, Maine, will pay $500,000. It apparently marks the first time a gun maker has agreed to pay such a settlement. This is real progress in the march toward having gun prices reflect their true "cost" more accurately. Up to now the social cost of murder victims was externalized onto nonusers. If the idea catches on, gun makers and shops will start insuring against the liability, and pass the cost of the premiums through to buyers; buyers will then be paying a more realistic price for the product instead of getting a susbidy from innocent bystanders. Read my comments for more explanation....