Simon Johnson and Stan Veuger

SIMON JOHNSON, A 2024 NOBEL LAUREATE IN ECONOMICS AND A FORMER CHIEF ECONOMIST AT THE INTERNATIONAL MONETARY FUND, IS A PROFESSOR AT THE MIT SLOAN SCHOOL OF MANAGEMENT AND THE CO-AUTHOR (WITH DARON ACEMOGLU) OF POWER AND PROGRESS: OUR THOUSAND-YEAR STRUGGLE OVER TECHNOLOGY AND PROSPERITY. STAN VEUGER IS A SENIOR FELLOW IN ECONOMIC POLICY STUDIES AT THE AMERICAN ENTERPRISE INSTITUTE AND A VISITING LECTURER OF ECONOMICS AT HARVARD UNIVERSITY.

Congress has been effectively powerless in the face of an emergency declaration since the Supreme Court banned the legislative veto, as it now requires veto-proof majorities in both the House and the Senate to override the president’s determination.

Trump’s supporters should be careful what they wish for

At stake in this case is nothing less than effectively modifying the Constitution to grant vast unilateral powers over the economy to...