[lbo-talk] When is private property NOT?

Nathan Newman nathanne at nathannewman.org
Tue Jun 28 03:26:21 PDT 2005


----- Original Message ----- From: "Michael Pollak" <mpollak at panix.com>


> On Sun, 26 Jun 2005, Nathan Newman wrote:
>
>> Any time eminent domain is used, people are required to receive the
>> market value of the property
>
> I think that's part of the problem. Fair market value doesn't compensate
> people for their pain and suffering -- the cost of being forced to uproot
> their lives -- which is a big deal. Eminent domain seems fundamentally
> unjust for a simple reason: they're not fully compensated. Theoretically
> that would be easy enough to fix. But you'd have to change the
> compensation principle to FMV Plus.

Which some analysts think would probably fly in court, from indications in the case law. Demanding a premium for the costs of moving for owner-occupied and such would be quite reasonable-- but that's a different issue from the idea that property owners should have an absolute veto on economic development involving their property.

-- Nathan Newman



More information about the lbo-talk mailing list