Richard Epstein on Property Rights, Zoning and Kelo

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4.7 • 4.3K Ratings

🗓️ 17 September 2007

⏱️ 42 minutes

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Summary

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.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:12.5	I'm your host Russ Roberts of George Mason University and Stanford University's Hoover
0:17.3	Institution.
0:18.7	Our website is econtalk.org, where you can subscribe, find other episodes, comment on this podcast,
0:25.8	and find links to other information related to today's conversation.
0:29.9	Our email address is mailadicontalk.org.
0:33.6	We'd love to hear from you.
0:37.8	My guest today is Richard Epstein, the James Parker Hall Distinguished Service Professor
0:42.4	of Law at the University of Chicago, and the Peter and Kirsten Bedford Senior Fellow
0:46.4	at Stanford's Hoover Institution.
0:49.0	And he's visiting NYU's School of Law.
0:52.1	Richard, welcome back to Econ Talk.
0:53.9	So we're fun to be with you.
0:55.9	Richard, our topic for today is our freedom to use our property, particularly land,
1:00.6	as we see fit.
1:01.9	How is that freedom fared in recent constitutional decisions?
1:05.2	Well, the answer is not very well, but before one goes into an explanation, I think, of
1:10.4	how things have declined.
1:11.8	It's important to put some flesh around the proposition, freedom to use one's land
1:16.5	as one see fit.
1:18.6	There is a constant confusion, of course, between freedom and license.
1:22.4	And in some cases, the freedom to use one's property, land, or anything else is once
	...

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