But in due course I think policymakers should re-examine the case, not for a return to fixed exchange rates, but for "target zones" within which the major currencies can float, with a presumption of official action to steady things when the markets overreact.
In Britain Dominic Raab, a Conservative MP, has won unanimous support in the House of Commons for a motion soon to be a draft bill that would create a presumption in favour of action for both those on the Magnitsky list, and other corrupt or beastly figures.
At bottom, what ties libertarians together is the notion of a "presumption of liberty" -- that state action needs justification, not human freedom.
And the follow-up to this sequence underlines, in an infinitesimal touch, the presumption of racial difference that underlies the action.
Because the course of action they are arguing for -- a military trial -- also requires the presumption of innocence and the possibility of an acquittal.
It afforded the government's actions a rebuttable presumption of constitutionality.
But the Supreme Court would in subsequent cases articulate and apply the rational-basis test in a manner that afforded the government's actions an effectively irrebuttable presumption of constitutionality (really, not a true presumption at all).
Nonetheless, Justice Peter G. Verniero wrote in the unanimous decision, the action did not substantially erode the presumption of innocence.
Butterfield, a former judge, said Scalia should recuse himself from the pending University of Texas affirmative action case because he has "removed any presumption of impartiality".
Under heightened scrutiny, unlike under rational-basis review (the default standard of review in constitutional cases), the government's actions do not receive the benefit of a presumption of constitutionality when they are challenged in court.
