Expropriation refers to confiscation of private property with the stated purpose of establishing social equality. Confiscation, from the Latin confiscatio 'joining to the fiscus i Property is any physical or virtual entity that is owned by an individual Social equality is a social state of affairs in which all people within a specific society or isolated group have the same status in a certain respect This is a politically motivated and forceful redistribution of private property, taking wealth from the rich to feed the poor in order to establish social justice, in the Robin Hood style. Social justice, sometimes called civil justice, refers to the concept of a Society in which Justice is achieved in every aspect of society rather than Robin Hood is an archetypal figure in English folklore, whose story originates from medieval times but who remains significant in popular culture where

Unlike eminent domain, expropriation takes place beyond the common law legal systems and refers to socially-motivated confiscations of any property rather than to taking away the real estate. Eminent domain ( United States) compulsory purchase ( United Kingdom, New Zealand, Ireland) resumption/compulsory acquisition Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive Real estate is a legal term (in some jurisdictions notably in the USA, United Kingdom No compensation to owners is given. The term appears as "expropriation of expropriators (ruling classes)" in marxist theory, or as slogan "Loot the looters!", very popular during Russian October Revolution ^[1]

The term often refers to nationalization campaigns by communist states, such as dekulakization and collectivization in the USSR ^[2]. The term ruling class refers to the Social class of a given society that decides upon and sets that society's political policy Marxism is the political philosophy and practice derived from the work of Karl Marx and Friedrich Engels. The October Revolution (Октябрьская революция Oktyabrskaya revolyutsiya) also known as the Soviet Revolution Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the Public ownership of a national government Communist state is a term used by many Political scientists to describe a Form of government in which the State operates under a one-party system Dekulakization (раскулачивание was the Soviet campaign of Political repressions including Arrests, Deportations and Executions Collectivization in the Soviet Union was a policy pursued under Stalin, between 1928 and 1940(much later for areas further away from capital to consolidate individual It may also refer to robberies by revolutionaries to fund their political activities, such as robberies by Joseph Stalin and Kamo in Russian Empire ^[3]. Robbery is the Crime of seizing Property through Violence or Intimidation. A revolutionary when used as a noun is a person who either actively engages in some kind of Revolution, or advocates the revolution with recognition from some government or Joseph Stalin ( ნამდვილი გვარი ჯუღაშვილი|Iosif Vissarionovich Dzhugashvili; March 5 1953 was General Secretary of the Communist Party Kamo, real name Simon Ter-Petrossian (1882-1922 was a Georgian Bolshevik of Armenian descent an early companion to Stalin. The Russian Empire ( Pre-reform Russian: Pоссійская Имперія Modern Russian: Российская Империя translit: Rossiyskaya

Contents 1 Communism 2 Expropriation and foreign investment 3 Canada 4 References 5 See also

Communism

The traditional interpretation of Marxism hold that all large-scale industries and private properties should be expropriated and held by the state. Leon Trotsky even absolutely rejected any payment to the private owners. Leon Trotsky ( Russian:, Lev Davidovich Trotsky, also transliterated Leo, Lyev, Trotskii, Trotski, Trotskij ^[4] Trotsky was very adamant on the issue of not compensating private owners.

Trotsky has written

The programme of the equal distribution of the land thus presupposes the expropriation of all land, not only privately-owned land in general, or privately-owned peasant land, but even communal land. Land reforms (also Agrarian reform, though that can have a broader meaning is an often- controversial alteration in the societal arrangements whereby government ^[5]

Hugo Chavez has said, "I cannot be classified as a Trotskyist,"^[6] yet encouraged other to further study and examine Trotsky's ideas. Hugo Rafael Chávez Frías (ˈuɰo rafaˈel ˈtʃaβ̞es ˈfɾias (born July 28 1954 is the current President of Venezuela.

Expropriation and foreign investment

Expropriation is one of the political risks involved with Foreign Direct Investment. Political risk is a type of Risk faced by Investors, Corporations, and Governments. Foreign direct investment ( FDI) in its classic definition is defined as a company from one country making a physical investment into building a factory in another country It is characterized by confiscation of the foreign asset, and a pittance payment. Confiscation, from the Latin confiscatio 'joining to the fiscus i This payment is sometimes a formality, and may not represent an acceptable reparation, because the transaction is not one to which the owners, as forced sellers, have freely consented. Moreover, adding to the complaints of the owners, the competition of any other buyers is excluded. Finally, the expropriated business is quite frequently a successful and established one, rather than one that is still highly risky or even failing. Such expropriation thus deprives the owners of their reasonable expectations of reliable returns from such a proven business. Individuals who have had their foreign property expropriated may have trouble seeking recourse in their domestic courts due to the Act of State Doctrine. The Act of State Doctrine says that a nation is sovereign within its own borders and its domestic actions may not be questioned in the courts of another nation A Bilateral Investment Treaty seeks to, amongst other things, redress this problem by providing a remedy to the owner of the expropriated property, against the state in question, by way of international arbitration. A Bilateral Investment Treaty (BIT is an agreement establishing the terms and conditions for private Investment by nationals and companies of one State in the state Arbitration, a form of Alternative dispute resolution (ADR is a legal technique for the resolution of Disputes outside the Courts wherein the An arbitration award may often be enforced in a jurisdiction where the state in question has assets.

Conversely, acts of expropriation may be warranted for a variety of reasons, peculiar to the local governmental entity. Sometimes, for instance, the expropriated business owners pay little or no attention to the host country's assertion that royalty payments are too small relative to the resources being extracted from the host country. Some host country political complaints may relate to the treatment of its nationals as employees of the business. At other times, the host government may judge that strategic decisions about the business entity are simply wrong-headed and ill-advised, as applied to the host country, however right they may seem to the owners. Such judgments may also occur when the business entity fails to include the host country's interests and concerns, legitimate or not, as matters of ordinary consultation and effective participation in the operational plans of the business entity.

As a result of both direct and indirect expropriation, a just compensation must be paid. US Secretary of State Cordell Hull defined just compensation in 1938 as "prompt, adequate and effective. Cordell Hull ( October 2, 1871 &ndash July 23, 1955) was an American politician from the U "

Canada

Expropriation in Canada is the act of a public authority (such as federal, provincial, municipal governments or other bodies empowered by statute) taking property without the consent of an owner through a statutory or common law process. This process involves the payment of compensation to the owner by the authority and the owner having the right to claim additional compensation to be determined by the courts or an administrative board. Compensation is intended to make the owner whole, in light of the loss suffered. The term is the U. S. equivalent to the power of eminent domain. ^[7]

References

See also

• Eminent domain
• Redistribution
• Nationalization

Eminent domain ( United States) compulsory purchase ( United Kingdom, New Zealand, Ireland) resumption/compulsory acquisition Nationalization, also spelled nationalisation, is the act of taking an industry or assets into the Public ownership of a national government

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