The Fed has no fixed anchor: there is no rule to guide it, only discretion.

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Finalized terms will be put in place by Jan. 2, 2011, in accordance with an implementing "Tailoring Rule" to guide state-level permitting authorities.

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An ancillary problem is that government workers as an economic elite leads to a perception that they are critical to growth and should exercise rule making authority to guide the market place.

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They are already being cursed in certain spots around the league as the team that created a guide for maneuvering around (circumventing, some would say) the 30% rule with t he contract for linebacker Patrick Willis.

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Rather, the more economists find out about the rule of law, the more desirable it seems and the more problematic as a universal economic guide.

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