Final answer:
The takings clause of the 5th amendment requires the federal government to provide just compensation when taking private property for public use through eminent domain, ensuring protection of economic liberty.
Step-by-step explanation:
The "takings clause" of the 5th amendment to the US Constitution prohibits the federal government from taking private property for public use without providing just compensation.
This clause is a fundamental protection of individuals' economic liberty, ensuring that the government cannot forcibly take one's property without a fair exchange that reflects the value of the property taken. This process, whereby the government takes private property, is known as eminent domain, and it typically requires the property to be used for something that benefits the public, such as building a road or a school.
The concept of eminent domain is often a point of contention, as it involves balancing property owners' rights with the needs of the public. Anytime a governmental body exercises its powers of eminent domain, the property owner has the constitutional right to receive just compensation, often determined by the fair market value of the property.