The U.S. Supreme Court case Georgia Railway & Power Company et al. v. Railroad Commission of the State of Georgia et al., 1922, revolved around a dispute over rate regulation for public utilities in the state of Georgia. The plaintiffs, including the Georgia Railway and Power Company, challenged an order by the state's Railroad Commission that reduced their rates for electric power services arguing it was confiscatory and violated their constitutional rights to due process under Fourteenth Amendment as it did not allow them a fair return on investment. However, after careful consideration of all evidence presented regarding costs and revenues associated with providing these services at both old and new rates, the Supreme Court upheld lower court decisions supporting the commission’s order stating that there was no clear error or abuse in its determination.

In the dissenting opinion for Georgia Railway & Power Company v. Railroad Commission of the State of Georgia, Justice Holmes argued that there was no constitutional violation in this case. He disagreed with the majority's view that a state regulation requiring street railways to sell eight tickets for a quarter was an unconstitutional taking without due process. According to him, it is not within judicial purview to determine whether such regulations are wise or unwise as long as they do not violate any specific constitutional prohibitions. Furthermore, he contended that if businesses could be regulated in terms of hours and wages then price control should also fall under permissible regulatory powers of states. The justice believed that economic experiments should be tried out by legislatures rather than courts deciding on their constitutionality based on personal economic theories.