Liberty Forum on Kelo

I have the lead essay in a Liberty Forum discussion on the economics and political economy of Kelo.  The thrust of the argument is that Kelo is not defensible under the standard economics analysis of takings law and creates political economy problems.  So I argue, for example, that the terms of Kelo arguably create a precedent for government to use the eminent domain power to take underwater mortgages, but the fact that Kelo does arguably support that demonstrates the decision’s flaws and why the Supreme Court needs to overrule Kelo to put it on a firmer economic foundation.

Christopher Serkin and my colleague Steve Eagle comment on my essay.

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