The U.S. Supreme Court overturned two staples of the regulatory system. the so-called Chevron deference, which calls upon the courts to defer to the expertise of specialized federal agencies and the use of administrative law judge opinions Jarkesy decision. Junking the Chevron deference would affect the work of a large swath of the federal regulatory bureaucracy. We wrote about this case and its implications for OilPrice readers several months ago.
Many of the regulatory impulses we associate with the Progressive movement occurred as a direct response to the 1893 depression. One consequence was that the public lost faith in the power of big business in this Gilded Age to solve society's ills. A more robust governmental response was sought by the progressives to counterbalance the considerable clout of big business.
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