Thought

Frédéric Bastiat

The true and equitable law of humanity is the free exchange of service for service. Spoliation consists in destroying by force or by trickery the freedom of exchange, in order to receive a service without rendering one.
Frédéric Bastiat, “The Natural History of Spoliation,” in Economic Sophisms: Second Series (1848).

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On May 7, 1992, the State of Michigan ratified a 203-year-old proposed amendment to the United States Constitution, thereby fulfilling the terms of amending the document, adding it as 27th Amendment.

The amendment had been written by James Madison. He had presented it as part of the original twelve amendments that became the ten making up the Bill of Rights.

It bars the U.S. Congress from giving itself a pay raise until after the next election, so that voters have a chance to decide whether those voting for the raise would remain in Congress to receive it.