Even if the holdout problem may impede the efficient use of land, it is not the reason for the historical development of government’s power of eminent domain. This power originated after the Norman conquest, when English kings granted stewardship of property to subordinates but maintained the right to take property back, and the barons sought to restrict the king's arbitrary takings.

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Other Independent Review articles by Bruce L. Benson
    Winter 2015   The New Scarlett Letter?
    Fall 2014   Let’s Focus on Victim Justice, Not Criminal Justice
    Winter 2007   The Market for Force
[View All (8)]