Thank you for taking the time to discuss this with me, I am finding this very enjoyable and educational.

I agree with Friedman in principle, but then I look at Ford and the other car companies with the Pinto and Takara airbags, etc. The cost of paying lawsuits gets factored in and until the cost point breaks over the deaths and injuries are just a cost of doing business. With regulation that actually has teeth and enforcement, just doing the bodies-to-profits calculations becomes an untenable solution and the recalls happen even if they aren't profitable. I don't think a private tort system is capable of having the teeth to achieve this in the real world. It is why Libertarianism still has a central government. It will have its inefficiencies, but it's a right tool for the right job kind of thing.

Same with asbestos, lead, fillers in food, etc. The damages from them are so divorced from the product that many may not know who or what caused it. Lawsuits have a hard time with those kinds of things even if you know exactly which business is the cause. Look at tobacco and leaded gasoline and myriad others where lawsuits failed initially because damage was difficult to prove before the government stepped in. If fossil fuel companies can pay for the science that muddies the water on climate change, what chance does John Doe have doing enough through a lawsuit to stop DuPont from flooding the planet with forever chemicals?

I like where Friedman is coming from, but I hold him at the same level as Marx or any other economic theorist: assuming a spherical cow, at a specific temperature, without friction, and without wind resistance. I like Henry George the same way. That's why I still claim to be a libertarian (just a left leaning centrist one), because I think Friedman and George are actually the better end result and closer to a workable solution than Marx. Marx was onto something though, and shouldn't be dismissed outright. I do think we have stuff to learn from all branches of economic theory, and subscribe to a "the truth will be somewhere in the middle" philosophy.