Supreme court rules against government market manipulation of the price of raisins

NY Times:

Supreme Court Sides With Raisin Farmers in Property Rights Case


The court said a program dating to the Great Depression was an unconstitutional taking of private property by the government.
The government was confiscating raisins produced by farmers without compensating them.  The government claimed that the higher price of raisins they were allowed to sell was compensation enough.  This was a heavy handed Roosevelt administration attempt to manipulate markets.  The only thing surprising is that it took this long for it to be overturned.

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