According to the conventional wisdom, road transportation would be highly inefficient without the governments power of eminent domain, because property owners could refuse to sell their property at the governments asking price. In reality, there are strong grounds for thinking that private, for-profit road companies would have fewer problems with holdouts and few problems as severe as that of government failure in road transportation.
|Other Independent Review articles by Bruce L. Benson
|The New Scarlett Letter?: Negotiating the U.S. Labor Market with a Criminal Record
|Lets Focus on Victim Justice, Not Criminal Justice
|The Evolution of Eminent Domain: Market Failure or an Effort to Limit Government Power and Government Failure?
|[View All (7)]