From: Rafal Smigrodzki (rafal@smigrodzki.org)
Date: Thu Mar 06 2003 - 20:36:27 MST
Daniel Ust asked me which one of the libertarian theorists supports the
existence of eminent domain.
Sorry to be so late with the answer - I meant Richard A. Epstein, who in his
"Simple rules for a complex world", pp. 128 and thereabouts, concedes that a
limited form of eminent domain is necessary to achieve optimal economic
outcomes through the prevention of the "holdout problem".
BTW, this is a very, very smart book. Epstein is an outstanding lawyer and
his work deals primarily with the analysis of the judicial system, with only
very limited asides about the general political setup. He outlines a set of
seven "simple rules", to a large extent derived from common law, clearly
describes why these rules are superior to the complex and destructive legal
edifice built over the last 50 years, and dissects the reasons why follies
like the Civil Rights Act, or Americans with Disability Act achieve outcomes
opposite to their stated noble intentions. If there is simplicity in his
analysis, it is the simplicity of genius.
Highly recommended.
Rafal
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