“Private property is an essential concept in market-driven economies. Therefore, one must have a solid argument that demonstrates how the objectives of a market economy can be better served if private property rights are suspended. While there exist sound theoretical arguments to support the involuntary transfer of private ownership to public ownership in the construction of, say, public goods, there are no sound arguments for the government forcing a private party to give up land to another private entity. In other words, there is no reason for the government to act as a non-market intermediary in what is an essentially private transaction in the land market.
It is now up to us to come up with a land acquisition policy that is consistent with a market economy and the principles originally enshrined in our Constitution.”
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