Richard Epstein, “Property Rights, Zoning and Kelo”, Econtalk, 2007/09/17

Rezoning not only changes the characters of neighbourhoods, it also shifts the value of the properties. Sometimes the rezoning is for the benefit of the community, and sometimes it’s not applied in altruistic ways.

Richard Epstein, of the University of Chicago and Stanford’s Hoover Institution, makes the case that many current zoning restrictions are essentially “takings” and property owners should receive compensation for the lost value of their land. He also discusses the Kelo case and the political economy of the regulation of land.

Epstein on Property Rights, Zoning and Kelo | EconTalk | Library of Economics and Liberty

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