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The distinction between public use and public purpose has created a doctrinally confusing and highly controversial subset of public use doctrine. This controversy was renewed after the Supreme Court's decision in Kelo v. City of New London (2005).
James Madison, who wrote the Fifth Amendment to the United States Constitution, had a more moderate view, and struck a compromise that sought to at least protect property rights somewhat by explicitly mandating compensation and using the term "public use" rather than "public purpose," "public interest", or "public benefit". [9]
Mariana Francesca Mazzucato (born June 16, 1968 [1]) is an Italian–American-British economist and academic.She is a professor in the Economics of Innovation and Public Value at University College London (UCL) and founding director of the UCL Institute for Innovation and Public Purpose (IIPP).
A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Grants are federal assistance to individuals, benefits or entitlements. A grant is not used to acquire property or services for the federal government's direct ...
However, real resources and productive capacity within an economy are finite. It is the acquisition of these real resources for the public purpose and a non-inflationary bias in government policy-making that places the constraint on currency-issuing government spending, rather than nominal financing from prior revenue collection.
It does not include the power to take and transfer ownership of private property from one property owner to another private property owner without a valid public purpose. [3] This power can be legislatively delegated by the state to municipalities, government subdivisions, or even to private persons or corporations, when they are authorized to ...
Economics and the Public Purpose is a 1973 book by Harvard economist John Kenneth Galbraith. Galbraith advocates a "new socialism" as the solution, nationalising military production and public services such as health care .
Berman v. Parker, 348 U.S. 26 (1954), is a landmark decision of the United States Supreme Court that interpreted the Takings Clause ("nor shall private property be taken for public use, without just compensation") of the Fifth Amendment to the United States Constitution.