Law Commons^™

Cambria's Water War: Legal Analysis Of The Building Moratorium And Its Implications For Land Owners, Jayson Parsons

Political Science

With each passing year, Cambria, California's building moratorium becomes increasingly controversial. The moratorium, enacted by the local community services district in 1986 due to a series of water shortages, has resulted in nearly 43% of all property owners under the district's purview to be denied the ability to develop their parcels. This paper seeks to examine the constitutionality of this moratorium using relevant regulatory takings jurisprudence.

Reviewing United States Supreme Court precedent, including Pennsylvania Coal v. Mahon (1922), Penn Central Transport v. New York City (1978), Lucas v. South Carolina Coastal Council (1992), and Tahoe-Sierra Preservation Council …

Capital Rigidities, Latent Externalities, Shi-Ling Hsu

Scholarly Publications

Capital, one of two fundamental inputs to production, is critical to economic growth. As such, legal rules and institutions generally seek to create more of it, and they also seek to protect existing capital from policy changes. However, capital is often durable, and during its natural life, information may emerge pointing to negative externalities resulting from operation of that capital. Legal rules and institutions, in seeking to stimulate and sustain economic growth by promoting and protecting capital, thus tend to induce the creation of excess capital. This abundance of capital creates excess resistance to new regulation or policy reform, as …