The Constitution: Power And Profit

The United States Constitution, drafted in 1787, has been amended infrequently over its 200-plus-year existence. The Constitution was created by a group of delegates with diverse interests and views, and it established the US government and its relationship with the people and individual states. The Constitution's creators, such as George Washington, James Madison, and Alexander Hamilton, were concerned about the young country collapsing due to the limitations of the Articles of Confederation, which gave the Confederation Congress power but no enforcement. The Constitution benefited its creators by providing a framework for a stronger central government, addressing issues like interstate commerce and private property rights, and shaping the country's future. However, it came at the expense of others, as critics argued it lacked a bill of rights and could overwhelm the states, going against the democratic spirit of the American Revolution.

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The Constitution created a powerful central government

The United States Constitution, drafted in 1787, created a powerful central government that was remarkably short and durable. The Constitution was established as a framework for the United States government, outlining its relationship with the people and the individual states. The Constitution was created by delegates who participated in state ratifying conventions, weighing the expected costs and benefits of their decision to ratify. They voted in favour of ratification if the benefits of the set of rules in the Constitution outweighed the costs.

The Constitution was a significant improvement over the Articles of Confederation, which was America's first constitution. The Articles of Confederation gave the Confederation Congress the power to make rules and request funds from the states, but it lacked enforcement powers, could not regulate commerce, and could not print money. The states' disputes over territory, war pensions, taxation, and trade threatened to tear the country apart.

The Constitution addressed these issues by granting the federal government the power to regulate interstate commerce and enforce contracts, strengthening the framework for the protection of private property. These changes increased the benefits of exchange and created incentives for individuals to specialize in economic activities, leading to mutually advantageous trade.

The Constitution also established a strong central government, which was a point of contention between the Federalists and Anti-Federalists. The Federalists believed that a strong central government was necessary to face the nation's challenges, while the Anti-Federalists opposed it as it reminded them of the monarchy they had recently overthrown. The Federalists eventually prevailed, and the Constitution created a powerful central government that has provided continuity and stability to the nation.

The framers bypassed state legislatures during ratification

The United States Constitution was drafted in 1787 and ratified in 1788, coming into force in 1789. The process of ratification was quite tense, and the framers of the Constitution bypassed state legislatures by implementing a new method for ratification.

The framers called for special state ratification conventions in each state, with delegates elected by the people to debate and vote on the Constitution. This method avoided the resistance they might have faced from state legislators, who were likely to resist giving up their power to a national government. The Federalists, who supported the Constitution, engaged in vigorous campaigning to secure the election of delegates who were in favour of ratification. They used newspapers and pamphlets, most famously The Federalist Papers, to argue for the Constitution.

The Constitution was ultimately ratified by securing the approval of nine out of thirteen states through this democratic process. This was a majority-rule approach, unlike the Articles of Confederation, which required unanimous consent. The Anti-Federalists, or those against the Constitution, fought hard against it because it created a powerful central government, and it lacked a bill of rights.

The ratification campaign was a close call, and the tide turned in Massachusetts, where the "vote now, amend later" compromise helped secure victory in that state and eventually in the final holdout states. The Federalists secured the support of influential delegates and publicized their successes, creating momentum for ratification across other states.

The Constitution strengthened the framework for private property protection

The United States Constitution, drafted in 1787, has been amended infrequently and has stood the test of time, governing a nation that has grown in territory, population, and responsibilities. The Constitution established the US government and determined its relationship with the people and the individual states.

The protection of private property was a principal purpose of the government, according to John Locke, who influenced the founding generation. Locke insisted that lawmakers could not arbitrarily take property or levy taxes without popular consent. The close connection between the rights of property owners and individual freedom was stressed by Madison in a 1792 essay. Madison also denounced unequal and excessive taxation, stating that property was not secure where "arbitrary restrictions, exemptions, and monopolies deny to part of [the] citizens that free use of their faculties, and free choice of their occupations, which not only constitute their property in the general sense of the world; but are the means of acquiring property."

The Supreme Court gradually moved towards guaranteeing fundamental property rights against state interference, strengthening the protection of property owners under the takings clause of the Fifth Amendment. This was demonstrated in the landmark case of Chicago, Burlington, and Quincy Railroad Company v. Chicago (1897), where the Court determined that payment of just compensation when private property was taken for public use was an essential element of due process guaranteed by the Fourteenth Amendment.

The Constitution benefited its creators as they rationally weighed the expected costs and benefits of their decision to ratify. They voted to ratify only if the benefits they expected from the adoption of the set of rules in the Constitution exceeded the expected costs.

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The Constitution was drafted by a group of men with varying interests and views

The United States Constitution was drafted by a group of men with varying interests and views. The 1787 convention in Philadelphia was attended by over 1,600 delegates from 13 states, each with their own rational self-interest. Benjamin Franklin, addressing the convention, acknowledged the challenge of assembling a group of men with diverse opinions and "prejudices, their passions, their errors of opinion, their local interests, and their selfish views".

The delegates represented a range of economic interests, from those who wanted to protect private property and enforce contracts, to those with concerns about interstate trade barriers. The delegates also had differing political views, with some wanting a strong central government and others fearing that such a government would overwhelm the states and go against the democratic spirit of the American Revolution. Some even expected the country to move towards monarchy, with a king.

The delegates debated and crafted compromises to accommodate their varying interests and views. For example, they agreed that direct taxation would be according to representation and that the representation of the lower house would be based on the white population and three-fifths of the "other people". They also agreed to Senate equality.

The final Constitution, signed by 38 delegates, created a powerful central government, but also established a framework for the relationship between the federal government and the individual states, giving the states some power. The Constitution has been amended infrequently, but the basic structure and powers of the federal government remain largely unchanged, indicating that the delegates' varying interests and views were addressed and incorporated into the final document.

The Constitution was influenced by the founders' economic and financial interests

The United States Constitution was influenced by the economic and financial interests of its founders. The Constitution was drafted in 1787 by 38 delegates, including George Washington, who feared that their young country was on the brink of collapse. America's first constitution, the Articles of Confederation, had no enforcement powers, could not regulate interstate commerce, and could not print money, leading to disputes over territory, war pensions, taxation, and trade that threatened to tear the country apart.

The founders of the new Constitution set the terms for its ratification, bypassing state legislatures and calling for special ratifying conventions in each state. This was because members of state legislatures would be reluctant to give up power to a national government. Ratification by 9 of the 13 states enacted the new government. The Federalists, who supported the Constitution, believed that a strong central government was necessary to face the nation's challenges.

The Anti-Federalists, on the other hand, opposed the Constitution because it created a powerful central government that reminded them of the monarchy they had just overthrown, and because it lacked a bill of rights. Despite these concerns, the Constitution was ratified, and its basic structure, functions, and powers of the federal government have remained largely unchanged for over two centuries.

Modern evidence and economic methodology suggest that the economic and financial interests of the founders influenced their voting behaviour and the content of the Constitution. For example, the Constitution specifically granted the federal government the power to regulate interstate commerce, protecting private property and enforcing contracts. These changes increased the benefits of exchange and created incentives for individuals to specialize in economic activities, fostering mutually advantageous trade.

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