Francis Fukuyama, a world renowned political economist, presented the 15th annual Yates lecture at Tulane University. His latest book was available for the first time, and he presented on its theme - the dimensions of political development.

Following the United States’ Supreme Court 2005 decision in Kelo v. New London, a number of states passed laws designed to protect homeowners and others from the arbitrary taking of property by government for ill-defined purposes of “economic development.” Louisiana’s 2006 constitutional amendment forbids the government from taking someone’s home for another’s private gain. Only...