Re:Robinhood is limiting purchases of stocks: AMC, Blackberr...
by MockObject on Thursday January 28, 2021 @10:25AM
(#25943212)
And as awful as that logic was, the absurdity was surpassed in Gonzales v. Raich [1], when the SC leveraged Wickard to conclude that the commerce clause also allows the federal government to ban activities that could affect prices in illegal markets, too.
Re:Robinhood is limiting purchases of stocks: AMC, Blackberr...
by pas on Thursday January 28, 2021 @09:58AM
(#25942685)
If a new Constitution would be written would people want this in it or not? Is this consistent with self-determination or not?
Re:Robinhood is limiting purchases of stocks: AMC, Blackberr...
by MockObject on Thursday January 28, 2021 @10:27AM
(#25943270)
The commerce clause was intended to create a free trade zone between the states, which at that time were engaging in trade wars with each other.
Then it was misinterpreted in Wickard to permit nearly limitless power to Congress.
So yes, in a new Constitution we would want a commerce clause, and we would want it never to be interpreted in such a manner.
> An Ohio farmer, Roscoe Filburn, was growing wheat to feed animals on his own farm. The US government had established limits on wheat production, based on the acreage owned by a farmer, to stabilize wheat prices and supplies. Filburn grew more than was permitted and so was ordered to pay a penalty. In response, he said that because his wheat was not sold, it could not be regulated as commerce, let alone "interstate" commerce (described in the Constitution as "Commerce... among the several states"). The Supreme Court disagreed: "Whether the subject of the regulation in question was 'production', 'consumption', or 'marketing' is, therefore, not material for purposes of deciding the question of federal power before us.... But even if appellee's activity be local and though it may not be regarded as commerce, it may still, whatever its nature, be reached by Congress if it exerts a substantial economic effect on interstate commerce and this irrespective of whether such effect is what might at some earlier time have been defined as 'direct' or 'indirect.'
[0] https://en.wikipedia.org/wiki/Wickard_v._Filburn