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Full-Text Articles in Law
The Federal Reserve We Need: It’S The Fed We Once Had, Timothy A. Canova
The Federal Reserve We Need: It’S The Fed We Once Had, Timothy A. Canova
Timothy A. Canova
This article considers the empirical record of the 1942-1951 period of Federal Reserve history when the Fed was more politically accountable and more independent of private financial interests. During the 1940s, federal spending was nearly twice as high as today, and federal borrowing was more than three times higher. Yet, from 1942 to 1951, the Federal Reserve was directed by the White House and Treasury to peg interest rates at 3/8 of one percent on short-term Treasury borrowing and 2.0 to 2.5 percent on long-term borrowing. The U.S. economy grew at a real annual rate of 15 to 20 percent …
The Fifth Freedom: The Constitutional Duty To Provide Public Education, Areto Imoukhuede
The Fifth Freedom: The Constitutional Duty To Provide Public Education, Areto Imoukhuede
Faculty Scholarship
“The fifth freedom is freedom from ignorance. It means that every[one], everywhere, should be free to develop his [or her] talents to their full potential – unhampered by arbitrary barriers of race or birth or income.” Lyndon B. Johnson This article argues that education is a fundamental human right that the U.S. Supreme Court has failed to recognize because of the Court’s bias towards negative, rather than positive rights. Viewed from the limited perspective of rights as liberties, the concern with declaring a fundamental right to education is that education legislation would be strictly scrutinized, thus causing the undesired result …