Which is supreme, the state governments or the federal government?
McCulloch v. Maryland addressed the issue of Maryland taxing the National Bank.
In this case, the state of Maryland attempted to tax the National Bank. The representative of the Bank refused to pay the taxes. The Court sided with the Bank stating the Federal government had the right to have a bank under the "necessary and proper clause". Additionally the ruling stated that the Federal government has supremacy over the state.
Adam Smith (1723 – 1790) was a Scottish economist. In 1776, he published The Wealth of Nations, which became the foundation of modern economics.
Smith saw the first duty of government was to protect the nation from invasion. Next, he supported an independent court system and administration of justice to control crime and protect property. Finally Smith favoured a system of “public works” that profits-seeking individuals may not be able to efficiently build and operate.
At the beginning stages of industrialization, Smith recognized that repetitive factory jobs dulled the minds o workers. Smith wanted all classes, even the poorest, to benefit from the free-market system. This is why I think Adam Smith would agree with government interventions with businesspeople like Social Security, minimum-wage laws, child-labour laws and anti-monopoly laws.
A single term limit on the presidency, financial compensation to New England for launch trade, a reduction in the number of the representatives the South had in Congress, a constitutional amendment requiring a 2/3 vote in Congress before war could be declared new states admitted or trade embargo instituted by the federal government
