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Who Needs Eminent Domain?

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An anonymous developer wants to build on the site of a small, ocean-side, mobile home town in Palm Beach County, Florida, so he offers each resident a million dollars for his home.

The identity of the bidder has not been disclosed by the residents who serve on the park's board. Ken Doyle, president of the corporation that owns the town's 43 acres, would say only that "we're quite sure it's a solid offer."
The owners of the mobile homes all are shareholders in the corporation. In early December, it was announced that nearly three-quarters of the residents in this town of 488 homes had voted to appropriate $30,000 to pay lawyers to pursue the offer.

Christopher Westley a professor of economics in the Lutgert College Business at Florida Gulf Coast University and an associated scholar at the Mises Institute.

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