Monopolist for the contemplated public use

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Reference no: EM131001015

A. What if the government needs to purchase a single, large piece of property in order to provide a public good, say, a satellitetracking station? There is only one private owner with whom to deal. And his property is the only one that is suitable for the station. Should the government be allowed to compel this individual, a monopolist for the contemplated public use, to sell at fair market value?

B. The public use requirement for governmental taking has recently been the subject of litigation and commentary. Consider this example. The downtown area of a large city is blighted by decades of economic depression and neglect. The municipal government believes that the economic well-being of the community requires a vibrant and attractive downtown area. So, using its power of eminent domain, the government takes much of the rundown property and turns it over (at a price far below market value) to a private real-estate development company with instructions on how the company is to invigorate the residential and commercial life of the downtown area. Is this taking efficient, even though the property has been turned over to a private party?

Reference no: EM131001015

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