Even if the holdout problem may impede the efficient use of land, it is not the reason for the historical development of governments 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? Negotiating the U.S. Labor Market with a Criminal Record|
|Fall 2014||Lets Focus on Victim Justice, Not Criminal Justice|
|Winter 2007||The Market for Force|
|[View All (8)]|