In the 1945 case of Thomas Paper Stock Co. et al. v. Porter, Price Administrator, the U.S Supreme Court dealt with issues related to price control during World War II under the Emergency Price Control Act of 1942 (EPCA). The appellants were paper stock dealers who challenged a regulation issued by the Office of Price Administration that set maximum prices for waste paper materials. They argued that this violated their rights as it was not based on any factual findings and did not provide them an opportunity for a fair hearing before its issuance. The court ruled in favor of Porter, upholding the validity of EPCA and stating that Congress had delegated sufficient legislative power to administrative agencies like OPA to regulate wartime economy effectively without violating constitutional principles or procedural due process rights. It held that while individuals have a right to be heard before being deprived of property interests, such hearings are not always necessary prior to rulemaking if there is an urgent public interest at stake.

In the dissenting opinion for Thomas Paper Stock Co. et al. v. Porter, Price Administrator, it was argued that the majority's decision to uphold price regulations imposed by the Office of Price Administration (OPA) under the Emergency Price Control Act was incorrect and overstepped constitutional boundaries. The dissenting justices believed that Congress had delegated too much legislative power to an administrative agency without providing adequate standards or guidelines for its exercise, thus violating principles of separation of powers enshrined in the Constitution. They also expressed concerns about due process rights being violated as a result of these broad regulatory powers given to OPA and questioned whether such extensive control over private business activities could be justified even during times of war or national emergency.