The Quarterly Journal of Economics, Volume 26

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Harvard University, 1912 - Economics
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Edited at Harvard University's Department of Economics, this journal covers all aspects of the field -- from the journal's traditional emphasis on microtheory, to both empirical and theoretical macroeconomics.

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Page 412 - What the company is entitled to demand, in order that it may have just compensation, is a fair return upon the reasonable value of the property at the time it is being used for the public.
Page 393 - This power to regulate is not a power to destroy, and limitation is not the equivalent of confiscation. Under pretence of regulating fares and freights, the state cannot require a railroad corporation to carry persons or property without reward : neither can It do that which in law amounts to a taking of private property for public use without just compensation, or without due process of law.
Page 394 - The question of the reasonableness of a rate of charge for transportation by a railroad company, involving as it does the element of reasonableness both as regards the company and as regards the public, is eminently a question for judicial investigation, requiring due process of law for its determination.
Page 23 - the study of agencies under social control that may improve or impair the racial qualities of future generations, either physically or mentally.
Page 405 - And in order to ascertain that value, the original cost of construction, the amount expended in permanent improvements, the amount and market value of its bonds and stock, the present as compared with the original cost of construction, the probable earning capacity of the property under particular rates prescribed by statute, and the sum required to meet operating expenses, are all matters for consideration, and are to be given such weight as may be just and right in each case.
Page 397 - ... due process of law,' but if found to be arbitrary, oppressive, and unjust, it may be declared to be not 'due process of law.
Page 394 - ... charging reasonable rates for the use of its property, and such deprivation takes place in the absence of an investigation by judicial machinery, it is deprived of the lawful use of its property, and thus, in substance and effect, of the property itself, without due process of law and in violation of the Constitution of the United States ; and in so far as it is thus deprived, while other persons are permitted to receive reasonable profits upon their invested capital, the company is deprived...
Page 397 - A. of his property without due process of law, within the meaning of the constitutional provision. A most exhaustive judicial inquiry into the meaning of the words "due process of law," as found in the fifth amendment, resulted in the unanimous decision of this court, that they do not necessarily imply a regular proceeding in a court of justice, or after the manner of such courts.
Page 391 - ... amendment it was not supposed that statutes regulating the use or even the price of the use of private property necessarily deprived an owner of his property without due process of law. Under some circumstances they may, but not under all. The amendment does not change the law in this particular ; it simply prevents the states from doing that which will operate as such a deprivation.
Page 402 - While rates for the transportation of persons and property within the limits of a State are primarily for its determination, the question whether they are so unreasonably low as to deprive the carrier of its property without such compensation as the Constitution secures, and therefore without due process of law, cannot be so conclusively determined by the legislature of the State or by regulations adopted under its authority, that the matter may not become the subject of judicial inquiry.

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