WEEK 6

September 27 (Monday):  Building Capitalism

• READ: Robertson, Federalism and the Making of America,  Chapter 5
              Polanyi, "Market-Self-Regulation"
              Weingast, "Market-Preserving Federalism"
              Jackson, Veto of the National Bank, 1832
              Franklin Roosevelt, Press Conference, May 31, 1935 (after the Court struck down the NIRA)

Discussion questions

1. Explain Polanyi's argument, including the double movement. How does the design of American federalism affect the double movement, according to Robertson?

2. Explain Weingast's argument, step by step.  Is "Market-Preserving Federalism" a good thing or a bad one?

3. Thinking of Andrew Jackson, why would any president of the United States oppose the additional national power that is embodied in a national bank?  Connect Jackson argument to the discussion of the Democratic Party in Chapter 2 of the Robertson text.

4. Why, according to Franklin Roosevelt in his press conference after the Schecter Poultry Company vs. U.S., are the consequences of the Supreme Court decision.  What would have happened if the Court had not reversed itself on the commercial powers of the U.S. government two years later?