I undeerstand externalities, having taken econ at Yale and elsewhere, and having worked as an intern at CBO, but what is disturbing about this is the following quote from the article:
"In a nutshell, Roberts argued that impacts to property owners must be balanced against the utility of the regulation "in a way that tilts almost every time in the government's favor.""
"In a nutshell, Roberts argued that impacts to property owners must be balanced against the utility of the regulation "in a way that tilts almost every time in the government's favor."
I hate the word utility.
Screw that commie Millsian crap.
Knowing something about Lake Tahoe, the problem was it was being slowly turned from a pristine lake into a cesspool from too rapid development without adequate sewage infrastruture.
On the related note of property, you might be interested in this story if you haven't heard about it already:
"Migrants awarded vigilante's Ariz. ranch"
http://www.freerepublic.com/focus/f-news/1466905/posts