Word: taylorism
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...should just automatically increase the money supply 3% to 4% a year. Measuring the money supply in an era of financial innovation has turned out to be awfully hard, so in recent years believers in an automated Fed have turned to an equation concocted by Stanford economist John Taylor that takes in inflation, current economic growth and long-term-trend growth and churns out a suggested Fed interest-rate target. Taylor and some other conservatives have said that if the Fed had followed his rule in the early 2000s, all would be well today. There's no way of knowing...
...image has now taken a hit. In its final report, released yesterday, Liberia's Truth and Reconciliation Commission (TRC), a body modeled on South Africa's historic truth commission, says Johnson Sirleaf should be banned from government for 30 years for her early support of former Liberian President Charles Taylor. Taylor, who played a central role in Liberia's conflict, is on trial in the Hague for crimes against humanity that stem from his part in the civil war in neighboring Sierra Leone. (See pictures of death and life in Sierra Leone...
...conflict that went on for nearly two decades, it's hard to find any Liberian officials whose hands are completely clean. When she testified at the TRC, Johnson Sirleaf admitted that during the early years of the war she had brought food, supplies and financial assistance to Taylor. At the time, she said, she wanted to see an end to the repressive and tyrannical regime of President Samuel Doe. If she cast her lot with a war criminal, she said, she did so unwittingly. (Read a Q&A with Johnson Sirleaf...
...Outside of Liberia, where few people until now have been aware of Johnson Sirleaf's early association with Taylor, the revelation could tarnish Johnson Sirleaf's image somewhat. Still, the President's unlikely to come under too much pressure from donors. Says one political observer who has worked in Liberia and asked to remain anonymous: "It will take a lot to dent her reputation...
...stress safe gun usage, would like to make the open-carry service an annual event annual leading to the Fourth of July. And he said he had no problem with an alternative rally, "Bring Your Peaceful Heart ... Leave Your Gun at Home," that coincided with the gun service. Terry Taylor, who heads Interfaith Paths to Peace, which organized the counter-rally, said there was no need to protest at the New Bethel event. "That's not how we do things," he said. "We wanted to hold our own event and give something to people that we think is better...