Rent Seeking and the Compensation Principle

Abstract

The reaction to Richard Epstein\u27s Takings has been almost universally negative. Joseph Sax finds Epstein the prisoner of an intellectual style so confining and of a philosophy so rigid that he has disabled himself from seeing problems as beyond the grasp of mere formalism. Thomas Grey concludes that Takings belongs with the output of the constitutional lunatic fringe and is a travesty of constitutional scholarship. Thomas Ross, writing in this Law Review, says that, at least from an academic perspective, Takings is a patent and howling failure. Epstein has provoked even the student editors of the Harvard Law Review, who condemn his work as an academic exercise in its worst sense: he develops a novel interpretation of the takings clause but provides no reason to take it seriously

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