Private Property, Public Use, and Just Compensation: The Economics of Eminent Domain

The eminent domain clause of the U.S. Constitution concerns the limits of the government's right to take private property for public use. The economic literature on this issue has examined (1) the proper scope of this power as embodied by the 'public use' requirement, (2) the appropriate definition, and implications, of 'just compensation,' and (3) the impact of eminent domain on land use incentives of owners whose land is subject to a taking risk. This essay reviews this literature and draws implications for our understanding of eminent domain law.

Shakespeare's Richard II and Henry V and Political Rebellions in the Reign of Queen Elizabeth I

The purpose of this thesis will be to examine how two acts of rebellion against Queen Elizabeth I influenced Shakespeare's writing of Richard II and Henry V, as well as the performance and publication of these plays. The treasonous plots and execution of Mary, Queen of Scots in the 1580s, as well as the failed Essex Rebellion of 1601, resulted in a sensitivity towards any writings that seemed to support a coup d'état. Shakespeare, being a well-informed and fairly well-connected playwright, wrote passages in the afore mentioned plays that clearly reflect the political turmoil of the times. Thus, his plays were censored both on stage and in print until after the death of Elizabeth in 1603.

Technical Efficiency in Public and Private Sectors in India: Evidence from the Post-Reform Years

While India's state-owned enterprises are widely believed to be inefficient, there is a dearth of studies that document such inefficiency on any rigorous basis. Yet, since improvement in firm efficiency is one of the basic objectives of privatization, it is important to assess whether efficiency is indeed lower in the public sector than in the private sector. This paper compares the performance of state-owned enterprises with those of private sector firms in respect of technical efficiency. The comparison is made in eight different sectors over the period 1991-92 to 1998-99. We measure technical efficiency using the method of Data Envelopment Analysis. Judging by the average levels of technical efficiency, no conclusive evidence of superior performance on the part of the private sector is found.