Economic Update: Why the US Constitution is an Obstacle to Change

[S13 E13] New

In this week’s Economic Update, Prof. Wolff presents updates on the US banking crisis, plant closing injustice, growing child labor in the US, Biden's budget's tax "proposals," and a new book that shows US homelessness is an economic problem. In the second half of the show, Wolff interviews Prof. Robert Ovetz... READ MORE

Showing 2 reactions

Please check your e-mail for a link to activate your account.
  • Pasqual DiGesu
    commented 2023-03-31 10:44:57 -0400
    Is this why authoritarians or dictators come to power?
  • Pasqual DiGesu
    commented 2023-03-31 10:13:58 -0400
    “After the Civil War, the Court entered a phase of judicial activism based on a conservative political outlook that further enhanced its own power. In accepting the view that the 14th amendment should be interpreted to protect corporations, the Court struck down laws that protected workers, such as minimum wage laws and laws prohibiting child labor. Critics of the Court’s stand, including Justice Oliver Wendell Holmes, argued that these decisions were not based on the Constitution but upon the laissez-faire theory of economics. By 1937 the Court was widely regarded by the public as an enemy of working people. This sentiment was exacerbated by the Great Depression. In 1935-36, the Court struck down eight of FDR’s New Deal programs, including the National Recovery Act (NRA) and the Agricultural Adjustment Act (AAA). Public anti-judicial sentiment intensified; many critics questioned the constitutionality of the concept of judicial review itself.” – F. E. Gannett

    The constitution is not the obstacle, the people who have amended it and the Legislators who now control that process of amendments, and those who finance them are the obstacle.