This book surveys the contributions that economic theory has made
to the often contentious debate over the government's use of its
power of eminent domain, as prescribed by the Fifth Amendment. It
addresses such questions as: When should the government be allowed
to take private property without the owner's consent? Does it
depend on how the land will be used? And what amount of
compensation is the landowner entitled to receive (if any)? The
recent case of Kelo v. New London (2005) revitalized the debate,
but it was only the latest skirmish in the ongoing struggle between
advocates of strong governmental powers to acquire private property
in the public interest and private property rights advocates.
Written for a general audience, the book advances a coherent theory
that views eminent domain within the context of the government's
proper role in an economic system whose primary objective is to
achieve efficient land use.
General
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