Discuss how the issue impacts business practice and the costs of operating business organizations. Discuss if the issue has a significant effect on consumers. Include specific examples to illustrate.

The Evolution of the Takings Clause

• Thesis Statement:

The “Takings Clause” of the Fifth Amendment to the United States Constitution states that private property cannot be taken for public use without proper and just compensation. This part of the Bill of Rights prohibits the government from taking private property without paying its owner for it at a fair market price.

• Body

1. Regulatory Takings, Eminent Domain, Inverse Condemnation
2. Impact on business practices, cost of operating an organization
3. Does the issue have a significant impact on consumers

• Conclusion

Property rights advocates take the position that even this expanded interpretation of the Takings Clause does not protect land owners suffiently. They have proposed federal and state legislation that would go well beyond the Supreme Court’s interpretation in requiring compensation.

http://landuselaw.wustl.edu/Articles/Brief_Hx_Taking.htm
http://www.landwatch.org/pages/perspectives/takingshistory.htm
http://www.heritage.org/research/reports/2005/09/the-takings-clause

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