Posted by
preservefreedom on Tuesday, February 10, 2009 9:25:35 PM
This article from Walter Williams provides a good historical perspective on the economy.
Included in this article is a quote from James Madison:
"The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the state governments are numerous and indefinite. The former will be exercised principally on external objects, as war, peace, negotiation and foreign commerce."