Coase Colored Glasses

Monday, February 28, 2005

More Eminent Domain Abuse

My uncle sent me this article on how some legislators have actually proposed the idea of taking away drug patents from companies and redistributing them to other smaller companies that agree to sell them at a lower price to the public. Of course the action would be justified under eminent domain and "just compensation" would be given. I don't know about the rest of you but the idea of government seizing private property so that they can sell it cheaper for the "good of the whole' sounds an awful like something a now extinct country that bore a red flag with a large hammer and sickle would do. And what happened to their economy????

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