Both banks and governments often make big mistakes at forecasting the economic and financial future.
The majority in Slaughterhouse correctly rejected the idea that the Privileges or Immunities Clause protects unenumerated absolute rights.
Liberty Law Forum
John Marshall’s famous opinion invited congressional overreach and gave inadequate weight to the powers of the states.
Unlike our latter-day advocates of judicial engagement, Marshall saw that the separation of powers embodied principled limits on the judge’s role.
James Madison’s critique of Marshall’s opinion in McCulloch remains valid.
Blame the later interpreters, not John Marshall, for the misuse of this circumspect opinion.
Those who rejected the very premises of the 1787 Constitution, as John Marshall understood them, had to be faced down.