The second claim was that externalities were relatively small, or at least that they were better dealt with via contract and tort law than through government regulation, because the disadvantages of government regulation outweighed the harm done by those externalities that the legal system could not properly address.
El segundo postulado decía que las externalidades son relativamente pequeñas, o al menos que se pueden resolver mejor a través del derecho contractual e indemnizatorio que mediante la regulación estatal, porque las desventajas de esta última superan el daño causado por aquellas externalidades que el sistema legal no puede resolver adecuadamente.