August 1, 2012
Dr. S. Mark Barnes
Constitutional Rights, Property Rights, and Private Enterprise Every day, the United States Constitution and the federal laws make it possible for modern business to function. This is true not only for business people in the United States, but also for business people throughout the world. The world economy depends upon the United States, not only for a model on how to have law and free economics, but also as a place where there is secure business, investment, and currency for the world’s wealth. This paper will show the examination why the Constitution in general is so important to commerce, and then focuses on one example, which is protection against government taking of private property without just compensation. General Benefits of the United States Constitution and Federal Law The most important role of the United States Constitution and the United States law in business regulation is to create a large geographic area (the United States) where business can be conducted in a stable, secure, interactive, non-discriminatory, free-enterprise environment. These are essential concepts for long-term prosperity. “Stable” refers to the fact that the federal government provides, for example, for a common non-counterfeit currency, common bankruptcy rules, a common system of federal courts, common rules for imports and exports, common records and measures, a common system of patents and copyrights, and a common set of interstate commerce rules. U.S. Const. Art. I, § 8; IV, § 1. This gives commerce a standard and reliable infrastructure for investment and business activities. “Secure” refers to the fact that the federal system provides for a common defense against hostile forces through military defense, federal law enforcement, and federal immigration control. This is very important for vigorous commerce. U.S. Const. Art. I, §§ 8-9; Art....