Regulatory takings

Regulatory Takings argues that the issue is not so much about the details of property law as it is about the fairness of politics and the capacity of the courts to protect property interests. William Fischel demonstrates that property is often protected by nonjudicial means. Local governments are deterred from unfairly regulating portable assets by their owners' threat of "exit" from the jurisdiction. State and federal government regulations are disciplined by property-owner coalitions whose "voice" is clearly audible in the statehouses and in Congress. Constitutional courts need to prese...