What is the current state of the law on strict liability and economic loss cases?

The policy behind the distinction between strict liability and economic loss cases also supports our decision. Strict liability is based on the premise that a manufacturer is in the best position to insure that its products are safe and to bear the cost of liability by spreading it among its customers. Greenman v. Yuba Power Products, Inc., 59 Cal.2d 57, 63-64, 27 Cal.Rptr. 697, 701, 377 P.2d 897, 901 (1962) (Traynor, J.); Codling, 32 N.Y.2d at 341, 345 N.Y.S.2d at 468, 298 N.E.2d at 628. This distinction: "rests ... on an understanding of the nature of the responsibility a manufacturer must undertake in distributing his products. He can appropriately be held liable for physical injuries caused by defects by requiring his goods to match a standard of safety defined in terms of conditions that create unreasonable risks of harm. He cannot be held for the level of performance of his products in the consumer's business unless he agrees that the product was designed to meet the consumer's demands." Schiavone, 81 A.D.2d at 230-31, 439 N.Y.S.2d at 939 (emphasis deleted) (quoting Seely, 63 Cal.2d at 12-13, 45 Cal.Rptr. at 23, 403 P.2d at 151). ¹ In the latter situation, a

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