Don’t Ignore the Best Clause in the U.S. Constitution

Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

While on my cruise, I’m also reading the fifth volume of Murray Rothbard’s book “Conceived in Liberty,” which discusses the debates over the U.S. Constitution. Deftly edited by Professor Patrick Newman, the book is a fascinating read.

I certainly agree with Rothbard that the Constitution granted a great deal of new powers to the federal government and that the slavery clause was most unfortunate as it eventually required the bloody Civil War to resolve.

Nevertheless, there are a lot of checks and balances and they kept the United States from becoming a big government state until the 1930s! That’s not bad.

Here’s my biggest concern with the book. From what I can tell, Rothbard fails to mention the extremely important libertarian prohibition on the states’ ability to impose tariffs and quotas. In essence, this clause eventually created a gigantic “free-trade zone” in all 50 of the states. This is one reason why America has become a major economic behemoth.

According to historians, the adoption of the Import-Export Clause was heavily debated, even more so than the Commerce Clause. Here is what the Import-Export Clause says:

“No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing its inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Control of the Congress.”

Exclusive  Five Big Debates at FreedomFest: Which Was #1?

– United States Constitution Article I, § 10, Clause 2

Rothbard spends considerable ink on various details of the Constitutional debates, and yet he leaves out this vital clause that made America great. Maybe it’s because it goes against Rothbard’s main thesis that the Constitution was a disaster and is not a radical document like the Declaration of Independence had been.

To read Rothbard’s new volume and the others, go here.

share on:

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE

share on:


Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

  • Forecasts & Strategies
  • Home Run Trader
  • Fast Money Alert
  • Five Star Trader
  • TNT Trader

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

  • Cash Machine
  • Premium Income PRO (exclusively for subscribers of Cash Machine)
  • Quick Income Trader
  • Breakout Options Alert
  • Hi-Tech Trader

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

  • Successful Investing
  • High Velocity Options
  • Intelligence Report
  • Bullseye Stock Trader
  • Eagle Eye Opener

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

  • Retirement Watch
  • Retirement Watch Spotlight Series
  • Lifetime Retirement Protection Program

Jon Johnson

Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:

Product Details

  • Investment House Daily
  • Stock of the Week
  • Technical Traders Alert
  • Rapid Profits Stock Trader

Used by financial advisors and individual investors all over the world, is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

  • Dividend Investor