lectur6-page44

lectur6-page44 - Built into our federal and state...

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44 44 The Limited Role of Government u Someone or some entity has to define and enforce private property rights. The government protects the rights of individuals and business persons to keep private property private, and keep the control of that property vested with the owners. That someone or entity is government. Under pure capitalism, government is supposed to protect and enforce property rights.
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Unformatted text preview: Built into our federal and state Constitutions is the right of government to use eminent domain. Eminent domain is the right of government to take private property for public use. In North Carolina, the owner of the property is to be compensated at fair market value. Some of your families may have run into this in conjunction with the building of a road....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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