Hello everyone. I'm Kimberly Adams. Welcome back to Make Me Smart where we make

today make sense. I'm Kyle Rososedall. Today is Wednesday, 17 January.

Today we're going to do some news and then some smiles.

So let's get going, Kai, you first, you seem to have very newsy things.

Well, so this is a case that hopefully people have read or heard about, but I just want to emphasize for a minute.

It's in the Supreme Court today, 17 January, they're doing arguments in a case about

nominally it's about commercial fishermen but in reality it's

about this thing called the administrative state and something called the

Chevron deference. I don't want to get all wonky here, but it has been the practice

for decades going on four decades now based on a Supreme Court decision

of the mid-1980s that regulatory agencies in the government which are stocked with experts on every subject under the sun,

are entitled to some degree of deference when relevant laws and regulations are called into question because they are the experts.

The case in the Supreme Court today sets about to challenge what is called the Chevron deference,

and there are some justices on the court

who seem ready to overturn that practice or doctrine.

And I will just say this.

The administrative state, the regulatory agencies, and the experts therein are how this economy runs.

It's why and how we have things like clean water.

It's why and how we have things like the Securities and

Exchange Commission. It's why and how we have things that make the economy go

round and it will be pandemonium if the Chevron deference is overturned.

Pandimony.

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