Earlier quoted context omitted.
> Libertarians like free markets, right? Has anyone tried applying free market principles to drug use? In a completely free market, there are no labeling laws, and no way to enforce purity until after someone has died or been harmed by a bad product and has an estate or next-of-kin capable of suing the producer. And that, of course, assumes the producer is both still in business and is going to be dissuaded from maki…
Free markets in no way preclude torts. If your ... snake-oil medicine kills somebody, that's a tort. Taken properly, this means you won't just lose one lawsuit, you'll enjoy the legal equivalent of being bombed back to the stone age. Free markets only work if there is good and efficient law. Indeed, David Friedman has written extensively on this very subject. His "Machineries of Freedom" is excellent.
I just said they allowed torts. I also explained why torts alone are insufficient.