When the Supreme Court Stopped Economic Fascism in America
Richard Ebeling emails:
I have a new article on the news and commentary website, "EpicTimes," on "When the Supreme Court Stopped Economic Fascism in America."
This spring of 2015 marks the 80th anniversary of the Supreme Court decisions in 1935 that declared unconstitutional the key elements of Franklin D. Roosevelt's "New Deal" collectivist economic policies.
After coming to office in early 1933, FDR proceeded to implement a series of government policies that constituted an American version of Mussolini's Italian form of economic fascism.
The National Industrial Recovery Act (NRA) forced all U.S. businesses into government-mandated cartels that, then, planned prices, wages, and production through the American economy. The Agricultural Adjustment Act (AAA) imposed government production planning and price controls on American farming.
But in the spring of 1935 the first of several cases came before the Supreme Court over whether the federal government had the legal authority to supplant the competitive market with controls and commands.
The Court unanimously said -- "No." And a halt was made to America's government-made mad dash into economic fascism.
Government has continued to grow and intrude into American society since then. But this was a moment when the Supreme Court said government has no such power to override liberty.
We should remember that such moments have occurred, and can occur in the future with principled, right-thinking people.