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I’m with you all the way, so long as externalities are priced in.

This is getting closer to a solution but it assumes that damage is totally reversible given money. If you punch me and break my nose, I can sue you for 'damages' (loss of earnings, medical expenses etc) and in the eyes of civil law everything is OK - but really it would be much better if it hadn't happened in the first place! We recognise that by placing a blanket criminal ban on assault, and in the future I think we're going to have to accept that a lot more for negative-externality actions.

> We recognise that by placing a blanket criminal ban on assault, and in the future I think we're going to have to accept that a lot more for negative-externality actions.

But we don't. Rather, we make the price of engaging in that activity extremely high. What would be closest to what you are advocating would be something like summary execution for all cases of homicide and rape, and no civilized country does that.

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