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A Free-Market Alternative to Eminent Domain

http://www.bloomberg.com

When Apple needed to complete a $1 billion data center in North Carolina, they found themselves thwarted by an acre of land belonging to Donnie and Kathy Fulbright--their home of 34 years. Where the state would've condemned the property and taken it by force (offering some token amount in "compensation"), Apple told the Fulbrights to name their price. They did, and Apple (a corporation driven by profit motive, not political power) will easily earn back the $1.7 million price they paid for that land.

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celestrion's picture
Created by celestrion 4 years 2 weeks ago
Category: Property Rights   Tags:

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