The Economic Theory of Eminent Domain
Private Property, Public Use

Surveys the contributions that economic theory has made to the debate over the government's use of power of eminent domain.

Thomas J. Miceli (Author)

9780521182973, Cambridge University Press

Paperback, published 20 June 2011

216 pages, 6 b/w illus. 12 tables
22.8 x 15.4 x 1.3 cm, 0.3 kg

'Thomas Miceli's book on eminent domain will provide for the first time a theoretical work devoted to the economic underpinnings of this basic feature of property law. Because of Miceli's expertise in the field of eminent domain and the accessibility of the book - it is not technical - it should provide a valuable resource to a wide audience.' Steven Shavell, Harvard Law School

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.

Preface
1. Introduction: a framework for analysis
2. Public use
3. Just compensation
4. Land use incentives
5. Regulatory takings
6. Conclusion: what does economic theory teach us about eminent domain?
Appendix
List of cases.

Subject Areas: Financial law [LNP], Economic history [KCZ], Political economy [KCP], Economic theory & philosophy [KCA]