http://www.independent.org/newsroom/article.asp?id=48The scope of private property rights in the United States has been greatly reduced during the twentieth century. Much of the reduction occurred episodically, as governmental officials seized control of economic affairs during national emergencies—mainly wars, depressions, and actual or threatened strikes in critical industries. The derogations from private property rights that occurred during national emergencies often remained when the crises passed. A “ratchet” took hold: people adjusted first their actions, then their beliefs, as they accommodated themselves to emergency governmental controls; later, lacking the previous degree of public support, private property rights failed to regain their pre-crisis scope.
Conclusion
Private property rights, historically truncated during national emergencies, remain highly attenuated and vulnerable to further erosion in future crises. Attempts to restrain the abuse of emergency powers have not eliminated the ratcheting effect of actual or purported emergency in augmenting governmental power. Only the respite of noncrisis affords time to contemplate and forestall the threat to liberty and private property rights inherent in the emergency psychology of the public and its exploitation by governmental officials.