Protection of Private Property Rights and Just Compensation

Abstract

In the last decade politicians from across the political spectrum have talked about 'transforming' New Zealand from an economy focused on land-based industries to an economy focused on investment in technology-based and high-value-added industries by promoting investment in and retaining New Zealand ownership of businesses developed in this country. In this paper we argue that New Zealand's current approach to the protection of property rights in particular protection from the state's taking of property rights without compensation runs contrary to this objective and to the more general objective of economic and social progress in New Zealand.