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Electronic Frontier Foundation
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Let Them Know It’s Time to Power Up
November 28, 2023
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Digital Rights Updates with EFFector 35.15
November 27, 2023
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How We Fundraise
November 27, 2023
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Alaa Abd El-Fattah: Letter to the United Nations Working Group on Arbitrary Detention
November 24, 2023
The Intercept
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Georgia Supreme Court Blocks GOP Attack on Trump Prosecutor — For Now
November 28, 2023
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Bernie Sanders May Push Vote on Conditioning Aid to Israel in Coming Weeks
November 28, 2023
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All the Times Israel Has Rejected Peace With Palestinians
November 28, 2023
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How to Read the Israeli “Kidnapped” Posters
November 28, 2023
VTDigger
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Emily Hallett Higgins
November 28, 2023
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After Pawlet officials inspect Slate Ridge complex, town is mum on findings
November 28, 2023
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Thousands remain without electrical power following Monday’s storm
November 28, 2023
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Private Christian school sues over state policy on transgender athletes
November 28, 2023
Mountain Times -- Central Vermont
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Mountain Times – Volume 51, Number 46 – Nov. 22-28, 2023
November 23, 2023
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Rutland is one of five pilot communities in ‘Homes For All’ project
November 22, 2023
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New Vermont fluorescent lightbulb restrictions begin in 2024
November 22, 2023
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New business mentoring program matches energy professionals with business coaches
November 22, 2023
NEW YORK – The world economy is undergoing a radical regime shift. The decades-long Great Moderation is over.
Coming after the stagflation (high inflation and severe recessions) of the 1970s and early 1980s, the Great Moderation was characterized by low inflation in advanced economies; relatively stable and robust economic growth, with short and shallow recessions; low and falling bond yields (and thus positive returns on bonds), owing to the secular fall in inflation; and sharply rising values of risky assets such as U.S. and global equities.
This extended period of low inflation is usually explained by central banks’ move to credible inflation-targeting policies after the loose monetary policies of the 1970s, and governments’ adherence to relatively conservative fiscal policies (with meaningful stimulus coming only during recessions). But, more important than demand-side policies were the many positive supply shocks, which increased potential growth and reduced production costs, thus keeping inflation in check.
During the post-Cold War era of hyper-globalization, China, Russia, and other emerging-market economies became more integrated in the world economy, supplying it with low-cost goods, services, energy, and commodities. Large-scale migration from the Global South to the North kept a lid on wages in advanced economies, technological innovations reduced the costs of producing many goods and services, and relative geopolitical stability allowed for an efficient allocation of production to the least-costly locations without worries about investment security.
READ MORE: Project Syndicate