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Takings

13 Pages Posted: 29 Jul 2010 Last revised: 24 Feb 2012

Peter J. Boettke

George Mason University - Department of Economics

Christopher J. Coyne

George Mason University - Department of Economics

Peter T. Leeson

George Mason University - Department of Economics

Date Written: July 28, 2010

Abstract

This paper investigates government takings’ effect on entrepreneurship and the market process. We find that takings redirect the market process along new paths, generating “hidden” costs in the form of foregone entrepreneurial opportunities. Because standard cost-benefit calculations of takings usage can’t capture these costs, takings impact analyses systematically understate the cost of takings.

Keywords: Entrepreneurship, Market Process, Eminent Domain

JEL Classification: B53, L26

Suggested Citation

Boettke, Peter J. and Coyne, Christopher J. and Leeson, Peter T., Takings (July 28, 2010). Georgetown Journal of Law and Public Policy, Vol. 8, No. 2, pp. 327-338, 2010. Available at SSRN: https://ssrn.com/abstract=1650202

Peter J. Boettke

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

Christopher J. Coyne

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

Peter T. Leeson (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://www.peterleeson.com

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