This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
3/15/2010
Runaway
Over the past week I've watched in the news the account of the runaway Toyota Prius down the San Diego freeway. I did some research and I found an article concerning this incident. After reading this article I feel the owner of the car was just trying to cash in on the recent Toyota recall. What has caused this madness? Is it the capitalistic society that we live in today that is making American people so greedy? Or, is just the decline of America’s morals? Economically speaking is it easier to sue a big company for a huge settlement than to make an honest dollar through hard work? Is this a morally or ethically responsible way to operate? I probably have no right to judge this man but, isn’t it ultimately the responsibility of the vehicle owner to ensure the safety of their vehicle?
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3 comments:
How is this related to macro?
I too feel that this person is trying to cash in, mainly due to the fact that any vehicle will no longer run away when taken out of gear. A simple fix in a bad situation. This incident has to many factors all falling together nicely to be a coincidence. Toyota is estemated to be soon involved in law suits over "$8 billion dollars worth of raw economic damages.". I think that when ever people hear of easy money (blood in the water) the start to congregate (like sharks) and the media makes it worse. Does anyone believe that three months ago an idiot in a Prius with smoking brakes would make the news. Hell no! Who's next for a Handout/Bailout, Toyota?
In a later New York times article the driver involved said he did not intend to sue Toyota. Perhaps he is positioning, but I does make it seam less likely that he is just trying to cash in on a bad situation.
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