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Several acres of land known as tysons corner

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A farmer owns several acres of land known as Tysons Corner, Virginia. The land is used to product agricultural products and is worth little. Suddenly the I-495 Beltway is built right next to the property and the value of the land skyrockets as builders contemplate developing a major shopping center known as Tyson's Corner Shopping Mall. Should the farmer be allowed to make 100-fold profit on his property by selling it to developers? Do unexpected windfall profits serve any useful function in an economy or should these profits always be taxed away?

Reference no: EM132396923

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