| The law and economics movement and, specifically, the constitutional economics school of thought have emerged out of the perceived need to reach a consensus among several clearly divergent perspectives as to how government should respond to the question of economic liberties, including private property rights. The underlying theory of constitutional economics is a theory of the rules by which political and economic processes are, or will be, allowed to operate through time. In the case of the United States, these rules are found primarily in the Constitution and its amendments.;A fundamental question central to the constitutional economics school is--should the judiciary, and specifically the Supreme Court, restore greater balance between governmental authority over property and protection of private property rights through the judicial review process and promote governmental restraint regarding related economic regulation. This thesis answers this question in light of historical perspectives of American private property concepts, American eminent domain law, the Supreme Court, and private property rights, and, finally, the constitutional economics school of thought. |
