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Markets versus Takings and Regulation

In: Property Rights

Author

Listed:
  • Matthew Brown
  • Richard L. Stroup

Abstract

On February 18, 1999, the Miami-Dade County Commission voted 10-1 to seize land surrounding the Miami Circle by eminent domain. Like many archaeological finds, the Miami Circle is unremarkable to the casual observer. A ring of 24 carved basins speckled by 200 smaller “postholes” of no obvious pattern, the 38-foot wide circle cuts into the limestone bedrock of Brickell Point, where the Miami River pours into Biscayne Bay. According to archaeologist John Ricisak, the site was the foundation for a temple or hut constructed by the Tequesta Indians, a tribe devastated by the wars and disease of European explorers. When developer Michael Baumann bought the 2.2 acres for $8 million, the site was home to a 1950s-era apartment complex.

Suggested Citation

  • Matthew Brown & Richard L. Stroup, 2010. "Markets versus Takings and Regulation," Palgrave Macmillan Books, in: Bruce L. Benson (ed.), Property Rights, chapter 11, pages 211-237, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-10779-3_11
    DOI: 10.1057/9780230107793_11
    as

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