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Global Production's Impact on Prices
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The article discusses the globalized nature of production in the tech industry and its impact on prices. It criticizes economist Catherine Rampell for praising the Federal Reserve for lower prices, arguing that the Fed's efforts are misguided due to the global nature of production. The article also highlights the historical figure Arthur Burns, who opposed Nixon administration's devaluation of the dollar, contrasting his stance with the current inflationary debates.
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How does the global nature of production affect the stability of prices in the tech industry?
How might the global impact of production on prices influence economic policies and decision-making?
What are the implications of Arthur Burns' opposition to Nixon administration's devaluation of the dollar?
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