America prides itself on its freedom of expression, and it has a reputation for tightly restricted libel law. Indeed, a study of more than 600 media-related suits in the 1980s found that ninety percent were won by the media or thrown out of court before even going to trial. Even a case ending in summary judgment can cost the victorious defendant $25,000 or more, and the bill for a full trial can easily pass $100,000. The volume of libel suits has...