One of our readers alerted us to this interesting property-rights case (Kelo v. City of New London) before the Supreme Court now. According to Jeff Jacoby of the Boston Globe:

When Pfizer, the big pharmaceutical firm, announced in 1998 that it would build a $300 million research facility nearby, the city decided to raze Fort Trumbull’s modest homes and shops so they could be replaced with more expensive properties: offices, upscale condos, a luxury hotel.

Seven Conneticut home-owners are arguing that the government’s right of eminent domain does not allow the government to take property from someone to give it to someone else who may be able to use it more profitably.

Scotusblog has information and links for this case, albiet before the arguments were heard in Court.

Update: Professor Bainbridge has a good post on this. (Courtesy of Joshua Claybourn from In the Agora.)