Socialism: An economic system based on state ownership of capital
When the government can take your property for the “public good”, then you don’t own it. End of story.
WASHINGTON (AP) — The Supreme Court on Thursday ruled that local governments may seize people’s homes and businesses — even against their will — for private economic development.
This is beyond eminent domain, where generally private property was taken to build a road, or a dam or something where the “public” benefits. This ruling by the SCOTUS means your government can take your house to build a Walmart.