if a sufficient bribe to landowners would cost less than indefinitely continued rent-seeking.
Note that if made in public, for legitimately-owned assets, and voluntarily accepted, the term is no longer “bribe” but “purchase”. A whole ton of my objections go away if the government (or even a private entity) is buying land and then figuring out the best use for it, charging optimal rent to the people who own the improvements separately.
Note that if made in public, for legitimately-owned assets, and voluntarily accepted, the term is no longer “bribe” but “purchase”. A whole ton of my objections go away if the government (or even a private entity) is buying land and then figuring out the best use for it, charging optimal rent to the people who own the improvements separately.