Eminent Domain Definition Economics

Advertisement



  eminent domain definition economics: The Economic Theory of Eminent Domain Thomas J. Miceli, 2011-06-20 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? Also, 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.
  eminent domain definition economics: The Economics of Eminent Domain Thomas J. Miceli, Kathleen Segerson, 2007 The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation presents an overview of the economics of eminent domain. Beginning with a brief review of the relevant case law for both physical acquisitions and for regulatory takings, the authors survey the economics literature examining eminent domain.
  eminent domain definition economics: The Grasping Hand Ilya Somin, 2015-05-28 In 2005, the Supreme Court ruled that the city of New London, Connecticut, could condemn fifteen residential properties in order to transfer them to a new private owner. Although the Fifth Amendment only permits the taking of private property for “public use,” the Court ruled that the transfer of condemned land to private parties for “economic development” is permitted by the Constitution—even if the government cannot prove that the expected development will ever actually happen. The Court’s decision in Kelo v. City of New London empowered the grasping hand of the state at the expense of the invisible hand of the market. In this detailed study of one of the most controversial Supreme Court cases in modern times, Ilya Somin argues that Kelo was a grave error. Economic development and “blight” condemnations are unconstitutional under both originalist and most “living constitution” theories of legal interpretation. They also victimize the poor and the politically weak for the benefit of powerful interest groups and often destroy more economic value than they create. Kelo itself exemplifies these patterns. The residents targeted for condemnation lacked the influence needed to combat the formidable government and corporate interests arrayed against them. Moreover, the city’s poorly conceived development plan ultimately failed: the condemned land lies empty to this day, occupied only by feral cats. The Supreme Court’s unpopular ruling triggered an unprecedented political reaction, with forty-five states passing new laws intended to limit the use of eminent domain. But many of the new laws impose few or no genuine constraints on takings. The Kelo backlash led to significant progress, but not nearly as much as it may have seemed. Despite its outcome, the closely divided 5-4 ruling shattered what many believed to be a consensus that virtually any condemnation qualifies as a public use under the Fifth Amendment. It also showed that there is widespread public opposition to eminent domain abuse. With controversy over takings sure to continue, The Grasping Hand offers the first book-length analysis of Kelo by a legal scholar, alongside a broader history of the dispute over public use and eminent domain and an evaluation of options for reform.
  eminent domain definition economics: Nichols on Eminent Domain Julius L. Sackman, 2006
  eminent domain definition economics: Takings Richard A. Epstein, 2009-07-01 If legal scholar Richard Epstein is right, then the New Deal is wrong, if not unconstitutional. Epstein reaches this sweeping conclusion after making a detailed analysis of the eminent domain, or takings, clause of the Constitution, which states that private property shall not be taken for public use without just compensation. In contrast to the other guarantees in the Bill of Rights, the eminent domain clause has been interpreted narrowly. It has been invoked to force the government to compensate a citizen when his land is taken to build a post office, but not when its value is diminished by a comprehensive zoning ordinance. Epstein argues that this narrow interpretation is inconsistent with the language of the takings clause and the political theory that animates it. He develops a coherent normative theory that permits us to distinguish between permissible takings for public use and impermissible ones. He then examines a wide range of government regulations and taxes under a single comprehensive theory. He asks four questions: What constitutes a taking of private property? When is that taking justified without compensation under the police power? When is a taking for public use? And when is a taking compensated, in cash or in kind? Zoning, rent control, progressive and special taxes, workers’ compensation, and bankruptcy are only a few of the programs analyzed within this framework. Epstein’s theory casts doubt upon the established view today that the redistribution of wealth is a proper function of government. Throughout the book he uses recent developments in law and economics and the theory of collective choice to find in the eminent domain clause a theory of political obligation that he claims is superior to any of its modern rivals.
  eminent domain definition economics: Property Rights Terry L. Anderson, Fred S. McChesney, 2003 In the end, the book provides a fresh, comprehensive overview of an intriguing subject, accessible to anyone with a minimal background in economics. (An introductory chapter introduces the handful of assumptions embedded in the text's economics and law).
  eminent domain definition economics: Property David Dana, Thomas W. Merrill, 2002 This law school study aid contains the history and cases related to the Takings Clause of the United States Constitution. The authors bring their long-time teaching experience to this important area.
  eminent domain definition economics: Eminent Domain Il-chung Kim, Iljoong Kim, Ho-jun Yi, Hojun Lee, Ilya Somin, 2017-04-06 A collection of essays that examines the use and abuse of eminent domain across the world.
  eminent domain definition economics: Analyzing Land Readjustment Yu-hung Hong, Barrie Needham, 2007 In this book, the authors argue for instigated property exchange--a concept applied in a land-assembly method commonly known in the literature as land readjustment.
  eminent domain definition economics: Property Rights and Land Policies Gregory K. Ingram, Yu-hung Hong, 2009
  eminent domain definition economics: The Indian Legal Profession in the Age of Globalization David B. Wilkins, Vikramaditya S. Khanna, David M. Trubek, 2017-05-23 This book provides the first comprehensive analysis of the impact of globalization on the Indian legal profession. Employing a range of original data from twenty empirical studies, the book details the emergence of a new corporate legal sector in India including large and sophisticated law firms and in-house legal departments, as well as legal process outsourcing companies. As the book's authors document, this new corporate legal sector is reshaping other parts of the Indian legal profession, including legal education, the development of pro bono and corporate social responsibility, the regulation of legal services, and gender, communal, and professional hierarchies with the bar. Taken as a whole, the book will be of interest to academics, lawyers, and policymakers interested in the critical role that a rapidly globalizing legal profession is playing in the legal, political, and economic development of important emerging economies like India, and how these countries are integrating into the institutions of global governance and the overall global market for legal services.
  eminent domain definition economics: Property Without Rights Michael Albertus, 2021-01-07 A new understanding of the causes and consequences of incomplete property rights in countries across the world.
  eminent domain definition economics: Economics for the Rest of Us Moshe Adler, 2009-11-17 “Vivid case studies . . . Adler’s frustration with wrongheaded economic thinking is as entertaining as it is thought provoking.” —Publishers Weekly Why do so many contemporary economists consider food subsidies in starving countries, rent control in rich cities, and health insurance everywhere “inefficient”? Why do they feel that corporate executives deserve no less than their multimillion-dollar “compensation” packages and workers no more than their meager wages? Here is a lively and accessible debunking of the two elements that make economics the “science” of the rich: the definition of what is efficient and the theory of how wages are determined. The first is used to justify the cruelest policies, the second grand larceny. Filled with lively examples—from food riots in Indonesia to eminent domain in Connecticut and everyone from Adam Smith to Jeremy Bentham to Larry Summers—Economics for the Rest of Us shows how today’s dominant economic theories evolved, how they explicitly favor the rich over the poor, and why they’re not the only or best options. Written for anyone with an interest in understanding contemporary economic thinking—and why it is dead wrong—Economics for the Rest of Us offers a foundation for a fundamentally more just economic system. “Brilliant.” —David Cay Johnston, Pulitzer Prize–winning and New York Times–bestselling author of It’s Even Worse Than You Think
  eminent domain definition economics: Principles of Political Economy John Stuart Mill, 1882
  eminent domain definition economics: The National System of Political Economy Friedrich List, 1916
  eminent domain definition economics: General Theory Of Employment , Interest And Money John Maynard Keynes, 2016-04 John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and Keynesian views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
  eminent domain definition economics: Little Pink House Jeff Benedict, 2009-01-26 In Little Pink House, award-winning investigative journalist Jeff Benedict takes us behind the scenes of this case—indeed, Suzette Kelo speaks for the first time about all the details of this inspirational true story as one woman led the charge to take on corporate America to save her home. Suzette Kelo was just trying to rebuild her life when she purchased a falling down Victorian house perched on the waterfront in New London, CT. The house wasn't particularly fancy, but with lots of hard work Suzette was able to turn it into a home that was important to her, a home that represented her new found independence. Little did she know that the City of New London, desperate to revive its flailing economy, wanted to raze her house and the others like it that sat along the waterfront in order to win a lucrative Pfizer pharmaceutical contract that would bring new business into the city. Kelo and fourteen neighbors flat out refused to sell, so the city decided to exercise its power of eminent domain to condemn their homes, launching one of the most extraordinary legal cases of our time, a case that ultimately reached the United States Supreme Court. Passionate...a page-turner with conscience. —Publishers Weekly Catherine Keener nails the combination of anger, grace, and attitude that made Susette Kelo a nationally known crusader. —Deadline Hollywood
  eminent domain definition economics: Harmonies of Political Economy Frédéric Bastiat, 2017 Keine Angaben
  eminent domain definition economics: Radical Markets Eric A. Posner, Eric Glen Weyl, 2019-10-08 Revolutionary ideas on how to use markets to achieve fairness and prosperity for all Many blame today's economic inequality, stagnation, and political instability on the free market. The solution is to rein in the market, right? Radical Markets turns this thinking on its head. With a new foreword by Ethereum creator Vitalik Buterin and virtual reality pioneer Jaron Lanier as well as a new afterword by Eric Posner and Glen Weyl, this provocative book reveals bold new ways to organize markets for the good of everyone. It shows how the emancipatory force of genuinely open, free, and competitive markets can reawaken the dormant nineteenth-century spirit of liberal reform and lead to greater equality, prosperity, and cooperation. Only by radically expanding the scope of markets can we reduce inequality, restore robust economic growth, and resolve political conflicts. But to do that, we must replace our most sacred institutions with truly free and open competition—Radical Markets shows how.
  eminent domain definition economics: Property and Freedom Richard Pipes, 2007-12-18 A superb book about a topic that should be front and center in the American political debate (National Review), from the acclaimed Harvard scholar and historian of the Russian Revolution An exploration of a wide range of national and political systems to demonstrate persuasively that private ownership has served over the centuries to limit the power of the state and enable democratic institutions to evolve and thrive in the Western world. Beginning with Greece and Rome, where the concept of private property as we understand it first developed, Richard Pipes then shows us how, in the late medieval period, the idea matured with the expansion of commerce and the rise of cities. He contrasts England, a country where property rights and parliamentary government advanced hand-in-hand, with Russia, where restrictions on ownership have for centuries consistently abetted authoritarian regimes; finally he provides reflections on current and future trends in the United States. Property and Freedom is a brilliant contribution to political thought and an essential work on a subject of vital importance.
  eminent domain definition economics: The Theory of Externalities, Public Goods, and Club Goods Richard Cornes, Todd Sandler, 1996-06-28 This book presents an updated and expanded discussion of theoretical treatment of externalities (i.e. uncompensated interdependencies), public goods, and club goods.
  eminent domain definition economics: Antitrust: The Case for Repeal Dominick T. Armentano, 2007
  eminent domain definition economics: The Construction of Property Amnon Lehavi, 2013-06-20 The Construction of Property identifies the structural and institutional foundations of property, and explains how these features can accommodate various normative agendas. Offering rich and cutting-edge analysis, the book studies the spectrum of property regimes including private, common and public property as well as innovative forms of property hybrids such as US-style residential community associations, the British Private Finance Initiative, the Israeli Renewing Kibbutz, community land trusts and grassroots phenomena of property ordering in publicly-owned open spaces. It also investigates the protagonists of property beyond the individual and the state, identifying the key role that community organisations and business corporations play for both the private and public aspects of property. The book then addresses property's greatest challenge: the move from a largely domestic legal construct into one that accommodates the increasing social and economic forces of globalisation.
  eminent domain definition economics: World Development Report 2009 World Bank, 2008-11-04 Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
  eminent domain definition economics: Issues in Law and Economics Harold Winter, 2017-01-27 Is file-sharing destroying the music industry? Should the courts encourage breach of contract? Does the threat of malpractice lawsuits cause doctors to provide too much medical care? Do judges discriminate when sentencing? With Issues in Law and Economics, Harold Winter takes readers through these and other recent and controversial questions. In an accessible and engaging manner, Winter shows these legal issues can be reexamined through the use of economic analysis. Using real-world cases to highlight issues, Winter offers step-by-step analysis, guiding readers through the identification of the trade-offs involved in each issue and assessing the economic evidence from scholarly research before exploring how this research may be used to guide policy recommendations. The book is divided into four sections, covering the basic practice areas of property, contracts, torts, and crime, with a fifth section devoted to a concise introduction to the topic of behavioral law and economics. Each chapter concludes with a series of thought-provoking discussion questions that provide readers the opportunity to further explore important ideas and concepts.
  eminent domain definition economics: Law and Economics of Possession Yun-chien Chang, 2015-05-21 Possession is a key concept in both the common and civil law, but it has hitherto received little scrutiny. Law and Economics of Possession uses insights from economics, psychology and history to analyse possession in law, compare and contrast possession with ownership, break down the elements of possession as a fact and as a right, challenge the adage that 'possession is 9/10 of the law', examine possession as notice, explain the heuristics of possession, debunk the behavioural studies which confuse possession with ownership, explore the LightSquared dispute from the perspective of 'possession' of spectrum frequency and provide new insights to old questions such as first possession, adverse possession and property jurisdiction. The authors include leading property scholars, who examine possession laws in, among others, the USA, UK, China, Taiwan, Japan, Germany, France, Israel, the Netherlands, Spain, Portugal, Italy and Austria.
  eminent domain definition economics: Cornerstone of Liberty Timothy Sandefur, 2006-10-25 The right to own and use private property is among the most essential human rights and the essential basis for economic growth. That’s why America’s Founders guaranteed it in the Constitution. Yet in today’s America, government tramples on this right in countless ways. Regulations forbid people to use their property as they wish, bureaucrats extort enormous fees from developers in exchange for building permits, and police departments snatch personal belongings on the suspicion that they were involved in crimes. In the case of Kelo v. New London, the Supreme Court even declared that government may seize homes and businesses and transfer the land to private developers to build stores, restaurants, or hotels. That decision was met with a firestorm of criticism across the nation. In this, the first book on property rights to be published since the Kelo decision, Timothy Sandefur surveys the landscape of private property in America’s third century. Beginning with the role property rights play in human nature, Sandefur describes how America’s Founders wrote a Constitution that would protect this right and details the gradual erosion that began with the Progressive Era’s abandonment of the principles of individual liberty. Sandefur tells the gripping stories of people who have found their property threatened: Frank Bugryn and his Connecticut Christmas-tree farm; Susette Kelo and the little dream house she renovated; Wilhelmina Dery and the house she was born in, 80 years before bureaucrats decided to take it; Dorothy English and the land she wanted to leave to her children; and Kenneth Healing and his 17-year legal battle for permission to build a home. Thanks to the abuse of eminent domain and asset forfeiture laws, federal, state, and local governments have now come to see property rights as mere permissions, which can be revoked at any time in the name of the “greater good.” In this book, Sandefur explains what citizens can do to restore the Constitution’s protections for this “cornerstone of liberty.”
  eminent domain definition economics: Property Theory James Penner, Michael Otsuka, 2018-08-30 The book brings together a refreshing collection of new essays on property theory, from legal, philosophical and political perspectives.
  eminent domain definition economics: Economic Freedom and Interventionism Ludwig Von Mises, 2007 Economic Freedom and Interventionism is both a primer of the fundamental thought of Ludwig von Mises and an anthology of the writings of perhaps the best-known exponent of what is now known as the Austrian School of economics. This volume contains forty-seven articles edited by Mises scholar Bettina Bien Greaves. Among them are Mises's expositions of the role of government, his discussion of inequality of wealth, inflation, socialism, welfare, and economic education, as well as his exploration of the deeper significance of economics as it affects seemingly noneconomic relations between human beings. These papers are valuable reading for students of economic freedom and the science of human action. Ludwig von Mises (1881-1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. Bettina Bien Greaves is a former resident scholar and trustee of the Foundation for Economic Education and was a senior staff member at FEE from 1951 to 1999.
  eminent domain definition economics: The Gridlock Economy Michael Heller, 2010-05 Twenty-five new runways would eliminate most air travel delays in America; fifty patent owners are blocking a major drug company from creating a cancer cure; 90 percent of our broadcast spectrum sits idle while American cell phone service suffers. These problems have solutions that can jump-start innovation and help save our troubled economy. So, what's holding us back? Michael Heller, a leading authority on property, reveals that while private ownership creates wealth, too much ownership means that everyone loses. Startling and accessible, The Gridlock Economy offers insights on how we can overcome this preventable paradox.
  eminent domain definition economics: Private Property and the Constitution Bruce Ackerman, 1977-01-01 The proper construction of the compensation clause of the Constitution has emerged as the central legal issue of the environmental revolution, as property owners have challenged a steady stream of environmental statutes that have cut deeply into traditional notions of property rights. When may they justly demand that the state compensate them for the sacrifices they are called upon to make for the common good? Ackerman argues that there is more at stake in the present wave of litigation than even the future shape of environmental law in the United States. To frame an adequate response, lawyers must come to terms with an analytic conflict that implicates the nature of modern legal thought itself. Ackerman expresses this conflict in terms of two opposed ideal types---Scientific Policymaking and Ordinary Observing---and sketches the very different way in which these competing approaches understand the compensation question. He also tries to demonstrate that the confusion of current compensation doctrine is a product of the legal profession's failure to choose between these two modes of legal analysis.He concludes by exploring the large implications of such a choice---relating the conflict between Scientific Policymaking and Ordinary Observing to fundamental issues in economic analysis, political theory, metaethics, and the philosophy of language.
  eminent domain definition economics: For-Profit Democracy Loka Ashwood, 2018-06-26 A fascinating sociological assessment of the damaging effects of the for†‘profit partnership between government and corporation on rural Americans Why is government distrust rampant, especially in the rural United States? This book offers a simple explanation: corporations and the government together dispossess rural people of their prosperity, and even their property. Based on four years of fieldwork, this eye†‘opening assessment by sociologist Loka Ashwood plays out in a mixed†‘race Georgia community that hosted the first nuclear power reactors sanctioned by the government in three decades. This work serves as an explanatory mirror of prominent trends in current American politics. Churches become havens for redemption, poaching a means of retribution, guns a tool of self†‘defense, and nuclear power a faltering solution to global warming as governance strays from democratic principles. In the absence of hope or trust in rulers, rural racial tensions fester and divide. The book tells of the rebellion that unfolds as the rights of corporations supersede the rights of humans.
  eminent domain definition economics: An Outline of the Science of Political Economy Nassau William Senior, 1836
  eminent domain definition economics: Principles of Political Economy Considered with a View to Their Practical Application Thomas Robert Malthus, 1820 Malthus has prepared in this work the general rules of political economy. He calls into question some of the reasonings of Ricardo and attempts to defend Adam Smith.
  eminent domain definition economics: The Economics of Intellectual Property. Suggestions for Further Research in Developing Countries and Countries with Economies in Transition World Intellectual Property Organization, 2009-01-01 The series of papers in this publication were commissioned from renowned international economists from all regions. They review the existing empirical literature on six selected themes relating to the economics of intellectual property, identify the key research questions, point out research gaps and explore possible avenues for future research.
  eminent domain definition economics: Calculation and Coordination Peter J Boettke, 2000-11-23 This collection of essays from one of the major Austrian economists working in the world today brings together in one place some of his key writings on a variety of economic issues.
  eminent domain definition economics: A Good Tax Joan Youngman, 2016 In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She analyzes the legal, administrative, and political challenges to the property tax in the United States and offers recommendations for its improvement. The book is accessibly written for policy analysts and public officials who are dealing with specific property tax issues and for those concerned with property tax issues in general.
  eminent domain definition economics: The Great Mental Models, Volume 1 Shane Parrish, Rhiannon Beaubien, 2024-10-15 Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage.
  eminent domain definition economics: The Libertarian Reader David Boaz, 2015-02-17 “The most magnificent collection of libertarian writings ever published” (Laissez Faire Books). An important collection of seminal writings on a movement that is rapidly changing the face of American politics, The Libertarian Reader links some of the most fertile minds of our time to a centuries-old commitment to freedom, self-determination, and opposition to intrusive government. This is the first comprehensive anthology of libertarian thought—from the Bible and Lao-Tzu to Hayek and Milton Friedman—to be published in one volume. The 68 selections from great libertarian writers are an intellectual feast, covering such key libertarian themes as skepticism about power, individual rights, spontaneous order, free markets, and peace. For all independent thinkers, this unique sourcebook will stand as a classic reference for years to come, and a reminder that libertarianism is one of our oldest and most venerable American traditions.
  eminent domain definition economics: The Transformation of American Law, 1780-1860 Morton J. HORWITZ, Morton J Horwitz, 2009-06-30 In a remarkable book based on prodigious research, Morton J. Horwitz offers a sweeping overview of the emergence of a national (and modern) legal system from English and colonial antecedents. He treats the evolution of the common law as intellectual history and also demonstrates how the shifting views of private law became a dynamic element in the economic growth of the United States. Horwitz's subtle and sophisticated explanation of societal change begins with the common law, which was intended to provide justice for all. The great breakpoint came after 1790 when the law was slowly transformed to favor economic growth and development. The courts spurred economic competition instead of circumscribing it. This new instrumental law flourished as the legal profession and the mercantile elite forged a mutually beneficial alliance to gain wealth and power. The evolving law of the early republic interacted with political philosophy, Horwitz shows. The doctrine of laissez-faire, long considered the cloak for competition, is here seen as a shield for the newly rich. By the 1840s the overarching reach of the doctrine prevented further distribution of wealth and protected entrenched classes by disallowing the courts very much power to intervene in economic life. This searching interpretation, which connects law and the courts to the real world, will engage historians in a new debate. For to view the law as an engine of vast economic transformation is to challenge in a stunning way previous interpretations of the eras of revolution and reform.
EMINENT DOMAIN AND ECONOMIC DEVELOPMENT: THE …
e United States inherited the doctrine of eminent domain from Great Britain. The Fifth Amendment of the US Constitution prohibits various government actions and declares: “nor shall private …

The Impact of Government Power to Expropriate on Economic …
Theories about the effects of eminent domain focus on two mechanisms—public projects lead-ing to economic growth and perceived risk of takings leading to under-investment—both of which …

The Economics Of Eminent Domain Thomas J Miceli Copy
The Economics Of Eminent Domain Thomas J Miceli: The Economic Theory of Eminent Domain Thomas J. Miceli,2011-06-20 Surveys the contributions that economic theory has made to the …

The Economics of Eminent Domain - Richmond Fed
Used correctly, the idea is that eminent domain boosts social wel-fare. But in overly liberal practice, it can lead to a classic distortion of incen-tives for both property owners and …

Eminent Domain and Economic Development: The Protection …
Imagine a piece of valuable land is sitting unused, but the owner refuses to sell. A government might use the power of eminent domain either to use the land directly or to transfer it to parties …

An Economic Analysis of Eminent Domain - JSTOR
Eminent domain (ED) is the legal right to acquire property by forced rather than by voluntary exchange. When a buyer seeking to acquire a property has the power of ED, he must attempt …

The Economics of Eminent Domain: Private Property, Public …
The eminent domain clause of the U.S. Constitution concerns the limits of the government’s right to take private property for public use. The economic literature on this issue has examined (1) …

What is Public Use? Eminent Domain and the Kelo Decision
eminent domain for local economic development projects. The use of the economist’s dual tests for the eficacy of public intervention in the private economy —existence of market failure …

The Myth and Reality of Eminent Domain for Economic …
The eminent domain power is the power of government to take property with-out the consent of the owner as long as the taking satisfies three conditions: it is for a public use; compensation …

6 x 10.5 Long Title.P65 - Cambridge University Press
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 …

The Economics Of Eminent Domain Thomas J Miceli Copy
Miceli,2017-10-17 Master teacher Thomas J Miceli provides an introduction to law and economics that reveals how economic principles can explain the structure of the law and make it more …

Government Takings: Determinants of Eminent Domain - JSTOR
Whereas the effects of eminent domain have been studied by other economists, the objective of this paper is to examine the determinants of eminent domain use. That is, what factors explain …

Microsoft Word - OC-#896719-v2 …
Jan 4, 2010 · Eminent domain is the power of the government to take or condemn property for "public use," without the land owner's consent, upon paying just compensation. The …

Eminent Domain Definition Economics (book)
The Economic Theory of Eminent Domain Thomas J. Miceli,2011-06-20 Surveys the contributions that economic theory has made to the often contentious debate over the government s use of …

An Introduction to Eminent Domain - Clark Hill
ll, PLC – sbagne@clarkhill.com Eminent domain is the power of a government agency or limited types of private companies (such as utilities) to involuntarily acquire private property rights in …

The Economics Of Eminent Domain Thomas J Miceli Copy
The Economics Of Eminent Domain Thomas J Miceli: The Economic Theory of Eminent Domain Thomas J. Miceli,2011-06-20 Surveys the contributions that economic theory has made to the …

Eminent Domain: History and Economics - Littera Scripta
Eminent domain gives a government the power to acquire property from private individuals by forced rather than by voluntary exchange. Different rules are used to protect private property …

Cambridge University Press & Assessment Frontmatter More …
its power of eminent domain, as prescribed by the Fift h Amendment. It addresses such questions as: When should the government be allowed to take private property with-out the owner’s …

An Economic Analysis of Eminent Domain - Wharton Faculty Platfo…
Eminent domain (ED) is the legal right to acquire property by forced rather than by voluntary exchange. When a buyer seeking …

Private Property, Public Use, and Just Compensation: The Econo…
The economic literature on this issue has examined (1) the proper scope of this power as embodied by the ’public use’ requirement, …

EMINENT DOMAIN AND ECONOMIC DEVELOPMENT: THE …
e United States inherited the doctrine of eminent domain from Great Britain. The Fifth Amendment of the US Constitution prohibits …

The Impact of Government Power to Expropriate on Economic
Theories about the effects of eminent domain focus on two mechanisms—public projects lead-ing to economic growth and perceived …

The Economics Of Eminent Domain Thomas J Miceli Copy
The Economics Of Eminent Domain Thomas J Miceli: The Economic Theory of Eminent Domain Thomas J. Miceli,2011-06-20 …