The article argues that the Federal Reserve's recent rate hike decision, while justifiable on inflation grounds, highlights a critical lack of an underlying, transparent policy framework. The core problem is that the Fed's decisions appear discretionary, leading to market uncertainty because the committee's judgment, rather than clear data, dictates policy shifts. The author proposes that the Fed adopt a formal monetary policy rule—an algebraic formula linking the target rate to indicators like inflation and unemployment—to replace subjective guidance. Implementing such a rule would provide market predictability, enhance transparency, and shield the Fed from political attacks by making deviations from the standard easily quantifiable.
Dream the Size of Freedom: How African Liberation Mobilized New Left Internationalism
English Summary
The analysis argues that African activists were the central force driving the end of Portuguese colonialism, challenging the conventional narrative that the empire's collapse was merely an unintended consequence of the 1974 Carnation Revolution. Key evidence highlights the role of robust transnational networks, which connected Lusophone liberation movements with radical Black Power and leftist groups across the Atlantic, particularly utilizing US university and church resources. For policy, this suggests that regional struggles for self-determination are not isolated events but are often mobilized by global ideological solidarity, requiring policymakers to recognize the transnational nature of modern anti-colonial movements.
中文摘要
本分析指出，非洲活動家是推動葡萄牙殖民地結束的核心力量，挑戰了傳統敘事——即帝國的崩潰僅僅是1974年「嘉年華革命」（Carnation Revolution）的意外後果。關鍵證據強調了強大的跨國網絡所扮演的角色，這些網絡將葡語世界（Lusophone）的解放運動與跨大西洋的激進黑人力量（Black Power）和左翼團體聯繫起來，特別是利用了美國大學和教會的資源。對於政策制定而言，這表明區域性的自決鬥爭並非孤立事件，它們往往受到全球意識形態團結的動員，要求政策制定者必須認識到現代反殖民運動的跨國性質。
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