October 10, 2006

(Almost) Instant Karma?

By (Almost) Instant Karma?

The city of Hollywood, Fla., is wondering why its redevelopment efforts–which relied heavily on eminent domain–are not producing the promised economic benefits.

This is not an uncommon happening.  Too frequently governments take property for redevelopment based on wonderful predictions of increased tax revenues that never materialize.  Professor Ilya Somin addresses this phenomenon in his excellent paper on the state of eminent domain post-Kelo.

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