Monday, March 23, 2009

The Constitution and the dollar

How do we fix the economic situation? It is not so hard after all.

Louis R. Woodhill writing in, Sorry, but Capitalism Did Not Fail, said,

"Capitalism and the free market can only do their job if the government supplies constant, reliable units of measure. This is why Article I, Section 8 of the Constitution of the United States says: “The Congress shall have Power…To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. The Framers seemed to understand that the dollar is a unit of measure, just like the foot, the pound, and the second."

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