Liebeck v. McDonald's Restaurants, also known as the McDonald's coffee case and the hot coffee lawsuit, was a 1994 product liability lawsuit that became a flashpoint in the debate in the United States over tort reform. Although a New Mexico civil jury awarded $2.86 million to plaintiff Stella Liebeck, a 79-year-old woman who suffered third-degree burns in her pelvic region when she accidentally spilled hot coffee in her lap after purchasing it from a McDonald's restaurant, ultimately Liebeck was only awarded $640,000. Liebeck was hospitalized for eight days while she underwent skin grafting, followed by two years of medical treatment.
“Of course [proof-of-stake] a really cool problem and it’s great. But, I think down the line, there will be other applications of cryptoeconomics, which I think is a whole new field of mechanisms to use economics to provide a desired outcome,”
That means that seen from a different angle, almost everything is a network, from the tangled web of belief systems in our minds, to the verbal interplay of ideas between different people, to the way money and energy and waves of digital information flow around our planet.
the growth, stability, and expansion of powerful states governed by representative democracy was in part a creation of the credit market, bondholders, and international finance. That’s not a world in which democratic decision makers ever had unconstrained sovereign decision-making authority over public finance, even in the powerful core states of the international system. It also means that the representative state emerged out of a kind of market competition for creditworthy providers of government. The representation of those who would have to be taxed in the future to repay the debt was taken as much more credible than a king’s prediction that his son would probably find the money somewhere.