Intersindical RTVV Fri, 12 Aug 2022 03:32:45 +0000 en-US hourly 1 Intersindical RTVV 32 32 Houston Texans head coach Lovie Smith and the players meet the media after the Texans’ training camp. Fri, 12 Aug 2022 03:32:45 +0000


With so many changes in the team over the past year, how do you feel?

“I’m extremely excited. I can’t wait to get back there, obviously a new team, a new attack, a lot of moving parts. But we’ve done a lot of work and hopefully a lot of positive changes, and we We’re ready to see what it looks like on the pitch against another opponent.”

Is there a bit of a balance between all these novelties that you mentioned? You have a lot of returning guys, especially in the wide reception room who will help you.

“Yeah, I think having the same guys that you work with to provide that kind of consistency, we have great chemistry. The guys get along really well. We know how to push each other, and we also know how to work with I think the change of Xs and O’s is positive for us, but continuing to have that consistency and knowing how to communicate with each other, how to communicate what we’re seeing on the pitch and what adjustments need to be made, I think having him for another year is a very good thing for us.”

What do you like the most about the schema change?

“You know a lot of things are different. The terminology is different. Our mentality on how we’re going to attack defenses is a bit different. I’m all for the new take. I think Pep (Hamilton) has really jumpstarted a lot of guys minds and how they view the game and how we can affect defenses, how we can score points and then really getting back to the point that shows us what you can do in camp , everyone has the opportunity to go out there and prove they can play, and that’s refreshing for the guys.”

How are you building the off-season working with a new coordinator? How do you see him being able to use that with you specifically?

“You know a lot of the stuff that Pep (Hamilton) has worked on is a bit more in the west coast (attacking) tree than what I learned when I came to the league, so there’s a lot but also playing inside and outside is knowing how the defensive triangle, your safety, your backer or your nickel and your corner and just being able to read it from a point of view different and knowing how to assign let’s say a backer instead of a corner when you go off the line. So there’s a bit of nuance to that, but it’s not necessarily the first time I’ve done that. I’ve kind of played indoors and outdoors everywhere i went so this is just another iteration of that and still trying to get better just do what they need me to .”

Thinking about how it affects defence, can you also sense how you might affect your teammate there?

“Yeah, I think we have a good group of veterans, guys who often understand what the defense is doing, sometimes even before revealing what coverage they’re playing. I think we try to improve each other. When it’s a game and we see coverage that may not necessarily be good for the route we’re traveling but we know we can affect it for someone else to open I think that’s kind of the level we’re at now. Guys work with each other not necessarily to win the ball themselves, but to help the attack as a whole.

What are the biggest areas you’ve seen QB Davis Mills’ game develop here at the start of Year 2?

“I’ve seen quite a few things, actually. But one of the things that really caught my eye when we came out, I noticed in the OTAs and even more in our first week of camp. practice is that he was really sliding the ball with confidence. He wasn’t really putting the ball up there. I know a lot of you guys have been up there at practices, and he has been on a lot of seam roads, he’s been on tee roads and like a cover hole two where you can’t really put the ball down, where you have to be confident, you have to kind of drive it on a line, and you can’t really hang on or guess. It’s been impressive to me, the belief that he’s been able to go out there and somehow – even in a new plan, command the offense.”

Have you had occasion to contact WR John Metchie III. What is he going through in this situation?

“Yeah, I did, and the cool thing about Metch (John Metchie III) is that he’s also an extremely positive person and has a great personality. I think that’s the “one of the things that in the reception hall, we had a chance to get to know him. He may be a person who is publicly very quiet, but he has a very big heart and a big personality, and I reached out to him and said we’ll walk with him and pray for him, and he sent me back a really funny picture of a really out of shape guy doing push-ups, and he said, ‘ oh, you know, fam, we got that.’ His head and heart are definitely in the right place, and we’re here for him.”

When you add a guy like WR Phillip Dorsett at the end of the season last year, how does he help the offense?

“You add another veteran to the mix, but you also add a veteran who can run 23 miles per hour, not everyone can do that. We have speed in our room with Brandin (Cooks) and him, but adding another guy like that is good. Phillip (Dorsett) has been around. He played ball a lot. Those comments I made about guys being able to see and affect defense to communicate effectively, Phillip falls right in there. But you can’t teach speed. The fact that we have guys who can really stretch a defense like that, it really helps us.

What stood out to you about playing against DB Derek Stingley Jr. and DB Jalen Pitre in camp?

“You know, I think their confidence is one thing. When you come on as a rookie there are a lot of questions. A lot of things jump out at you. But they were able to take what little information they have and go out there and play with confidence, like the role they were playing was their role, like they owned it. Like (Jalen) Pitre when he came out, he played like he was the starting keeper here for years, confidence is something that has caught our attention, and he’s been flying all over the place and he’s made a lot of plays. The same goes for (Derek) Stingley. He’s played with a lot of confidence. He’s very , very athletically gifted, but he’s also curious. He asks a lot of questions, and you can tell when he gets an answer and he picks up something, he’s on it. So he played extremely well. ‘Fighting every day, it’s going to be something special.”

Can you tell us about what you see from secondary school as a whole, compared to what you faced last year in training?

“Yeah, I see a lot of guys who are gifted like young guys like (Jalen) Pitre and (Derek) Stingley. I see a veteran in Steven Nelson who is savvy, a very savvy vet. I played with Steve (Nelson ) a long time ago, I played him a number of times, and he’s a guy you can’t give no signs, no indicators because he’ll lead the way for you. that kind of sixth sense on the outside and that ability to play, that makes us better. Then the safeties could affect the game in the run and the pass. I’m delighted to see them play.

DB Derek Stingley Jr. Does he ask you questions or is that what you observe from him?

“No, I think he’s not afraid to ask questions. He asked me a number of questions after practice. He pulled me to the side and asked me what was going on. He did the same thing with Brandin Cooks, pretty sure he did it with Davis (Mills), because he wants as much information as he can get, and when you take someone “One who is willing to learn like that and then you add the athletic ability that I’m sure everyone in this room knows he has, that could be a dangerous combination, and we’re excited to see that.”

What is a “fair” labor market? By Oren M. Levin-Waldman Wed, 10 Aug 2022 12:51:39 +0000

Listen to socioeconomic research professor Oren M. Levin-Waldman’s discussion of his most recent essay, “What Constitutes a ‘Fair’ Labor Market?” this Wednesday, August 10, 2022What does a “fair” labor market consist of? He can be heard every other Wednesday morning from 10-11 a.m. ET on the Westchester On the Level show. The program can be listened to “Live” or “On Demand” by clicking on the noted hyperlink – Shortlink: Listen to this program “Live” or “On Demand” via the following hyperlink – 1213219. Please note that the hyperlink changes every two weeks and is specific to the essay being discussed. Listeners are invited to share their request regarding the topic of the topic being discussed. The dial-in number for the broadcast is 1-347-205-9201.

NEWARK, NJ – August 10, 2022 – With a lot of political talk surrounding social justice these days, one might be tempted to ask the obvious question of what a “fair” labor market might look like. A neoclassical model of competitive markets assumes that the labor market is fair when all market participants have been free to make choices about the transactions they were free to enter into. Any resulting outcomes are assumed to be fair because all market players were indeed free to make choices. Thus, in a race for life, two individuals end up in different places is not unfair, as both are presumed to have been equal to begin with and where they ended up based on the choices they were free to make. , but the question remains: are we all equal and free in our choices? Isn’t the labor market unfair if indeed some market actors are not free to make choices because of disadvantaged circumstances into which they may have been born? If we are not all born with the same natural gifts, are we all really equal to begin with? Most workers are forced to work for whatever salary they can get because they have no choice if they want to eat. To say they have a choice only mocks the choice if the alternative is to starve.

Workers in the neoclassical model are assumed to be equal to their employers in terms of bargaining power. In effect, they control whether they will be hired with the wages they demand, as they can always lower their wage demands to the point where there is a demand for their services. That social justice has even become a topic of discussion only reveals how flawed the neoclassical model really is.

Capitalist markets are by definition exploitative. The workers are perpetually disciplined by their need to work in exchange for a wage that allows them to subsist. As globalism has driven, and in fact required, lower wages to be competitive, and social programs must also be cut for business environments to be attractive for investment and economic growth, the effect does not was only to further discipline the workers. While it is true that exploited workers can always leave and take another job elsewhere, this is only true in a sluggish labor market. On the contrary, workers who have few survival options are simply forced to remain employed and effectively find themselves in a situation where they will continue to be exploited.

Workers are merchants who need to work because they need it. Employers, however, are eager traders, allowing themselves the luxury of waiting for conditions to be favorable to them. Therefore, the two are not equal and the power imbalance between them is asymmetrical. Those below are mostly needy traders and are forced to accept whatever terms are offered and the lowest wages because they lack the capacity to hold out for something better. Therefore, they do not enjoy the same freedom as those with more power.

Given the power imbalance between employers and workers and the fact that some are born into more privileged circumstances than others, thus affecting outcomes, it would be an overstatement to call the US economy a just economy, let alone of a fair labor market. What would a fair labor market look like then?

The first place to look for advice is, of course, A Theory of Justice by John Rawls. Rawls’ two guiding principles are justice as fairness and the priority of the right over the good. In justice as equity, individuals accept in advance the principle of equal freedom and they do so without any precise knowledge of their particular ends. This is because they are under a veil of ignorance where they know nothing of their attributes, resources, endowments and even preferences. It is this veil that leads to a priority of the good over the good. Because they are under this veil, they would choose a system of justice that would protect the rights of individuals against, say, a mob seeking to impose its own good.

If, for example, Person A does not know that his aspiration is to become an investment banker, he would also not be able to favor a tax code that actually favors the wealthy, i.e. low marginal rates and low capital gains, on the poor. Likewise, if she does not know that she might become an impoverished member of the underclass, she is unable to favor a progressive tax code to redistribute wealth and income to the poor.

Applied to the labor market, we do not know if we have the capacity to be scholars or if we could end up as low-skilled workers. Under a veil of ignorance, we may choose a set of institutions that provide workers with continuous opportunities to retrain and upgrade their skills as needed. We don’t even know if we are capable of acquiring the necessary skills to demand higher salaries. Moreover, we do not even know that the employers with whom we would negotiate as equals, as the neoclassical model suggests, would in fact negotiate in good faith.

Rawls introduces the principle of difference when he suggests that redistribution might be justified if it improves the situation of the less advantaged. Does this mean that the rich should be overtaxed to pay for programs that would benefit the poor? Or maybe it could mean that steps are taken to ensure that they have jobs and that institutions are in place to ensure that they have well-paying jobs. Nobel laureate Amartya Sen defines poverty as the deprivation of capabilities, by which he means human action.

A capacity is a type of freedom in that it allows people to be self-sufficient. If low wages place workers in an exploitative position where they are unable to fully perform their action, they are deprived of their capacities. Insofar as they are deprived of their abilities, are they not the same as wage slaves? A fair labor market must therefore be a market where workers can in fact improve their abilities.

For Sen, unemployment leads to social exclusion and a dramatic loss of freedom of choice. It is harmful in the long term insofar as the unemployed lose their capacities, their cognitive capacities and their motivation. It leads to the loss of human relationships and family cohesion. It also exacerbates racial and gender inequalities because women and racial minorities are overrepresented among the unemployed. Ultimately, this leads to the loss of social value and responsibility. And yet, the Fed’s response to rising inflation is to raise interest rates, which can only lead to more unemployment and loss of capacity.

A fair labor market would then be, at a minimum, a market in which workers can claim to belong to the middle class. It is a situation in which labor market institutions are in place to support wages, even in low-wage sectors of the economy, so that workers can be self-reliant and, in turn, develop their capabilities. A fair labor market must therefore be based on a large middle class and on policies that facilitate the maintenance of a large middle class. A fair labor market that strengthens the middle class is also a market where inequalities will be reduced.

The answer to inequality is not simple redistribution by overtaxing the rich in order to fund programs that benefit the poor. Rather, it is a country where labor market institutions are in place to support wages. Instead of programs, the focus should be on job creation. It may also be a country where policies are in place, perhaps through education and training, to facilitate transitions in a global economy. Otherwise, workers’ abilities deteriorate, thus perpetuating an unjust economy. Ultimately, the focus should be less on economic growth and more on economic development.

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Mr. Levin-Waldman is the author of the following published books.

Restoring the middle class through wage policy: arguments for a middle class

Understanding public policy in the United States.

The minimum wage: a reference manual

Wage policy, income distribution and democratic theory

]]> Why is it celebrated three days a year? Mon, 08 Aug 2022 20:30:06 +0000

The cat is people’s most popular and beloved feline, so of course it has its own international recognition day, although, as any cat owner can confirm, for a cat, every day is the day of the cat.

However, there may be confusion regarding the date of the celebration, as the cat has more than one special day.

Why is Cat Day celebrated on August 8?

This date was designated by the International Fund for Animal Welfare (IFAW) in 2002. The name of this date is “International Cat Day” and the reason why they chose this date is that on this date the cats are in the fertile season in the northern zone of the hemisphere.

“The International Fund for Animal Welfare created International Cat Day with a reminder to anyone who has a beloved feline in their life: your four-legged friend can be a cold-blooded killer! Lots of between us love cats and enjoy having them in our lives. They are a source of companionship, comfort and pleasure, but in many parts of the world house cats can be a real nuisance or danger to wildlife,” we read in the message published by the organization behind this celebration.

What are the other feast days for the cat?

As we mentioned, there are still two days, one of them and the best known is February 20 and another is October 29.

Cat Day on February 20:

Its origin lies in a very popular fact that happened in the United States. In 2009, Socks, former US President Bill Clinton’s cat was euthanized. It is known that this mascot was part of the white house from 1993 to 2009. Chelsea Clinton, daughter of the former president, was the one who stood next to Socks, and countless times this animal caught the attention of media.

Cat Day on October 29:

He was born as a result of an act of awareness in the United States. Colleen Paige created National Cat Day on this date with the goal of reaching a total of 10,000 cat adoptions each year on this day. The adoption of stray cats was the main reason for this celebration.

Unlike other days, in Europe, they take this day as a reference for the kitten festival.

An additional celebration:

Only in the West does the celebration take place three times a year, but in the case of Russia the situation is changing. This country also has a special day for this animal and they have taken March 1 as the memorial date for the domestic feline. It turns out that in this region, cats are one of the most revered and loved animals. It is the country with the highest rate of cat ownership in the world. Fun fact, the United States and Ukraine round out the top three.

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  • Woman’s body found in suitcase in Puerto Vallarta On Saturday evening, authorities located the body of a person inside a suitcase on Antonio J. Hernández and Prolongación Zacatecas streets in the Primero de Mayo neighborhood of the municipality of Puerto Vallarta. The report was made to the 911 emergency service where a suspicious package was reported on Antonio J. Hernández Street in…
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]]> A Jazzman’s Blues, Jazz Music Inspirat – Deadline Sun, 07 Aug 2022 20:43:00 +0000

I sat in the Green Room waiting for actor and director Tyler Perry to arrive backstage at the Martha’s Vineyard Performing Arts Center for the Colors of Conversation event during the Martha’s Vineyard African American Film Festival. Before hitting the stage for the panel, there was only a short window to interview him about his new project, A Jazz bluesa screenplay he had written in the 1990s.

Many know him from the Medea movies, which some say has limited his cinematic reach in terms of what he can do, but Perry is here to prove the naysayers wrong. “Filming was like, ‘I know something you don’t know,'” he said. “Throughout my career people would say Madea is all I can do. Today, 26 years later, I have Jazz blues.”

It was an idea he couldn’t get rid of. Imagine what it’s like to latch on to an idea and finally be able to execute said idea all these years later. According to Pretty, right now is the best time to present her story to the world. “Right now in America, t1=here’s an assault on our history. I feel wonderful to be able to do this now.

Jazz blues follows Bayou (Joshua Boone), a vocalist from the Deep South who falls in love with Leanne (Solea Pfeiffer) and follows the band through forty years of secrets and lies. The director pulled out all the stops, hiring legendary dancer/actress Debbie Allen to choreograph and Terrance Blanchard to arrange and produce the music. When depicting the main character’s emotional trajectory from the beginning to the end of the film, the director was very passionate about displaying all the hardships and emotions that come with being a black man in the Deep South.

“[Bayou] The entire arc is about the emotions, love, anger, and frustration that most of us carry through life at one point or another. Joshua Boone does an amazing job delivering a solid performance. Watching him be able to express all these different emotions and come to this sort of reunion is extremely powerful to watch.

Perry grew up in the Deep South, in rural Louisiana, where jazz was an influence on him. This experience gave him a special connection with matter. “Jazz was really the soundtrack to my life,” he said. Many stalwarts of the musical genre who inspired his upbringing have music featured in the film. Louis Armstrong, Ella Fitzgerald, Sarah Vaughn, Duke Ellington and all these incredible voices inspire me.

As our time together drew to a close, I had to ask Perry if he was planning on working on any other projects. The blues of a jazzman exists outside of the Medeaverse and everything it has done so far. However, he understands that his recent filmography should not be ignored, as it has helped him get to where he is. “The Madea films were for my target, my audience. I made sure to serve the niche, which put me in a position where I could make time to write and perform other stories.

As I pressed him a bit more on what we can expect from the future Tyler Perry, you’d be surprised what he’s up to. “The next film I have just written is a film about the Second World War. I will play with space and bigger sets for sure.

There is no release date for The blues of a jazzman (which will be broadcast on Netflix). Additionally, there are no specific details about the WWII film yet. However, he announced at the Colors of Conversation event that the film would debut at the Toronto International Film Festival in 2022.

Book Review: Macroeconomics: An Introduction by Alex M. Thomas Sun, 07 Aug 2022 10:52:30 +0000

In Macroeconomics: An Introduction, Alex M. Thomas offers new insight into the development of macroeconomics, combining concepts with real-life examples drawn from the Indian economy. By linking economic ideas to real-life problems, Thomas succeeds in his goal of enabling readers to grasp the daily life of macroeconomics, writing Kaibalyapati Mishra.

Macroeconomics: An Introduction. Alex M. Thomas. Cambridge University Press. 2021.

Find this book (affiliate link):

Macroeconomics: An introduction by Alex M. Thomas is a great attempt to make his readers aware of the evolution and application of economics happening around them, frames headlines and shapes table gossip, combining concepts with a specific reference to the Indian context. Drawing on the dimensions introduced into the field of economic thought by scholars over a long period of time through classical and modern textbooks, Thomas establishes economics as a discipline dealing with the management of individual, historical and political needs. of the masses through the formation, accumulation and distribution of wealth.

The emergence of the economy dates back to the time of Ibn Khaldoun, Kautilya and Confucius, with its modern existence as a discipline of political economy unraveled in The Wealth of Nations by Adam Smith. Economics, a field of multidisciplinary importance, has demonstrated its political implications and the role of the state through works such as General theory of employment, interest and money by John Maynard Keynes, while continuing to address the different contours of classical economics presented by scholars such as Thomas Malthus, JS Mill, Alfred Marshall and others.

After the Age of Discovery in the 18th century, the main developments in economics in the 20th century were monetarism, institutionalism, and game theory. Thomas also points to Piero Sraffa’s critique of marginalist economic principles and the cultural teaching manual in economics contributed by Paul Samuelson, seeing them as important developments that have spawned several new chapters in economics and its dissemination. popular.

The two partially divergent currents of political economy relating to levels of production and employment have been termed the marginalist school and the Keynesian school. Borrowing from the reflections of JB. Say, Marshall and Arthur Pigou, the first school focused on the marginal productivity theory of income distribution, while the second drew on the work of Michał Kalecki and Keynes. Although both schools studied competitive economics under the assumption of a given level of productivity, the differences were manifold. The Keynesian explanation of production and employment was demand-based, while the supply dominated the marginalist school, which believed that “supply creates its own demand”.

Construction of high-rise buildings, Mumbai, India

Considering dynamic macroeconomics, where investment plays the dual role of being a component of demand (aggregate demand) and an addition to productive capacity, the book classifies theories of economic growth into groups of theories of supply and demand. The supply side, with the aggregate production function as its focus, gained prominence as the foundation of the models of economic growth developed by Robert Solow and Sir Roy Harrod. The popular neoclassical theories of Paul Romer then developed technology as an internal component of economic growth. On the other hand, by bringing together the classical and Keynesian versions of value, Pierangelo Garegnani developed the fundamental synthesis of the theories of the growth of demand.

Thomas demonstrates the need for clarity in modeling economic problems. The book believes that mathematics adds clarity to economic models as well as logical restrictions. For example, the infinitesimal calculus (a workhorse for the mathematical foundations of marginalist economics) adds to the potential change of several economic values, including cost, revenue, and productivity. The importance of an appropriate and adequate number of variables is also evident, since policies based on underfitted models with fewer variables than necessary can yield inefficient results.

The opposing views of methodological individualism or holism (deriving from the results of observing individuals or groups), supported by marginalist and Keynesian theories respectively, have raised the question of “right” and “wrong” theories. “. Here, Thomas explicitly aligns himself with the holistic approach, like Keynes himself, who felt that methodological individualism yields erroneous results in understanding macroeconomics.

While the book describes economics as a science of wealth that presents a macro picture, Thomas identifies the embryonic creation of national accounts statistics (NAS) in the work of William Petty. This was later followed by the United Nations mandated System of National Accounts (SNA) regulations. The Indianized version of the SNA, indigenized by Dadabhai Naoroji, VKRV Rao and PC Mahalanobis, still suffers from neglecting women’s contributions and the ecological costs of wealth generation. The book also discusses the classification of different sectors of the economy and the relationships between them, as well as sectoral fund flows. This represents the ideas of interdependence and circulation of wealth in the economy.

The strength of this work over existing textbooks on macroeconomics lies in its examples drawn from the real world, both from India and around the world. Rao, among India’s leading economists, brought Keynesian theories within the framework of development economies. Together with AK Dasgupta, he established that the Keynesian framework still has limited applicability to India, given the supply-side constraints of inadequate physical and social infrastructure and discrimination in the labor market. Given the government’s current emphasis on self-sufficiency (Atmanirbhar), Thomas underscores the need for India to produce products at lower cost than the rest of the world, thereby reducing reliance stemming from export markets and bilateral trade agreements.

Thomas clearly describes India’s growth trajectory in terms of historical inequality, sectoral performance, job creation and ecological impacts. The distribution of land ownership in India is exemplary of historical inequalities. The percentage of households with large land holdings is only 0.24% (against 75.42% of marginal farmers); however, the average land ownership of these households is 14.4 hectares (compared to 0.234 hectares for marginal farming households). Once the backbone, but now the backward sector of the Indian economy, agriculture makes a minimal contribution to total national output, being vastly overtaken by manufacturing, but of all services it still seems to dominate .

Contextualizing the structural aspects of the Indian economy, Thomas therefore argues that any discussion of Indian macroeconomics has two main segments: first, the importance of agriculture; and second, the presence of an informal sector. Unlike developed countries, Indian agriculture is characterized by features of village economies that suffer greatly from spatial inequalities and are rarely explained by economic theories. Societal constraints of caste, gender and race affect the regional distribution of natural resources and land ownership – essentially every element of policy formulation. The presence of informality also adds to the precariousness of inequalities in village economies.

India’s GDP growth has excelled; however, the inertia in job creation is evident from the split employment growth. The ecological view of the growth of the country is observed from the CO2 emissions and carbon footprint of India, where huge inequalities prevail. The individuals and organizations that benefit the most from these emissions pay the least, and the poor seem to bear the heavy environmental burden.

The book rightly discusses the two major issues of employment and inflation in India as they lead the agenda on national economic policy prescriptions. Resolutely divide the macroeconomic question of employment into quality and quantity, Thomas presents the need to address these two dimensions for an ambitious level of full employment. Moreover, regular household chores usually performed by women are not part of the national accounts because they are not yet considered as “work”. The recently released India Time Use Survey made a rudimentary attempt to incorporate women’s work into the National Income Accounts (NIA) framework; however, he did not give an economic evaluation to this work. In terms of quantity, the labor force participation rate (LFPR) was found to be influenced by social and cultural factors (such as caste, class, gender, etc.), rather than factors alone economic. Likewise, the quality of employment is crucial given its enormous non-monetary and psychological effects. This discussion establishes that simply considering the unemployment rate is not enough to capture the true picture.

The other flaw that any real economy tries to avoid is the inflationary tendency of prices. In India, the wholesale and consumer price indices (WPI and CPI) are the indicators of inflation, which is characterized by irrational and unexpected increases in prices. The reference year for these calculations is still 2011-2012, which does not take into account all the significant changes that have occurred since this period. Additionally, stakeholders in the calculation of WPI and CPI should review their assigned weighting and include more products for better representation. Although Thomas does not address the structural problems of these indexes, he does highlight several generic policy recommendations for dealing with unemployment and inflation.

The advantage of this book over several other excellent macroeconomics textbooks (see, for example, Brian Snowdon and Howard R. Vane) is that it links basic economic concepts to real-life problems. Thomas does justice to the concepts and contexts that govern everyday macroeconomics. Drawing on the words of the father of the marginalist school, Adam Smith, this book demonstrates that “individual ambition serves the common good” as Thomas succeeds in his goal of enabling readers to grasp the daily life of macroeconomics..

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Note: This article gives the point of view of the author, and not the position of the USAPP – American Politics and Policy, nor of the London School of Economics.

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About the Examiner

Kaibalyapati MishraInstitute for Social and Economic Change
Kaibalyapati Mishra is a PhD researcher at the Center for Economic Studies and Policy, Institute for Social and Economic Change, Bangalore, India. My main research interests are market design, information structures and behavioral economics. I can be contacted at

The highs and lows of women’s property rights Sun, 07 Aug 2022 04:09:14 +0000

Human trafficking is a horrific crime and “a total assault on the rights, safety and dignity of people”, Secretary-General António Guterres said Friday, on the eve of the World Day Against Trafficking in Persons.

“Tragically, it’s also a growing problem – especially for women and girls, who make up the majority of detected trafficking victims globally.”

Separated and vulnerable

Conflict, forced displacement, climate change, inequality and poverty have left tens of millions of people around the world destitute, isolated and vulnerable.

And the COVID-19 pandemic has separated children and young people in general from their friends and peers, pushing them to spend more time alone and online.

“Human traffickers take advantage of these vulnerabilities, using sophisticated technology to identify, track, control and exploit victims,” the UN chief explained.

Traffic in cyberspace

Often using the so-called “dark web”, online platforms allow criminals to recruit people with false promises.

And technology anonymously authorizes dangerous and degrading content that fuels human traffickingincluding the sexual exploitation of children.

This year’s theme – Use and Abuse of Technology – reminds everyone that while it can enable human trafficking, technology can also be a vital tool in combating it.

join forces

The Secretary-General stressed the need for governments, businesses and civil society to invest in policies, laws and technological solutions capable of identifying and supporting victims, locating and punishing perpetrators and guaranteeing a safe, open and secure Internet.

“As part of the 2023 Future Summit, I proposed a Global Digital Compact to rally the world around the need to bring good governance to the digital space,” he said, calling on everyone to “give this issue attention and action”. she deserves and works to put an end once and for all to the scourge of human trafficking”.

Technological hazards

In her message of the day, the head of the United Nations Office on Drugs and Crime (UNODC), Ghada Waly, spoke more about the theme.

Acknowledging that digital technology has been “a vital lifeline” during pandemic restrictions, she warned that it is “increasingly being exploited by criminals”.

The borderless nature of information and communication technology (ICT) allows traffickers to extend their reach and profits with even greater impunity.

More than 60% of known victims of human trafficking over the past 15 years are women and girls, most of whom have been trafficked for the purpose of sexual exploitation.

And as conflict and crisis increase misery, countless more people risk falling victim to false promises of opportunity, jobs and a better life.

Secure online spaces

To protect people, digital spaces must be protected from criminal abuse by harnessing technologies for good.

“Partnerships with technology companies and the private sector can prevent traffickers from preying on vulnerable people and stop the circulation of online content that amplifies the suffering of trafficked persons,” said Ms Waly.

With the proper support, law enforcement can use artificial intelligence, data mining, and other tools to detect and investigate trafficking networks.

“On this World Day Against Trafficking in Persons, let us commit to preventing online exploitation and promoting the power of technology to better protect children, women and men, and support victims,” he said. she concluded.

Trafficking in Conflicts

A UN-appointed group of independent human rights experts have stressed that the international community must “strengthen prevention and accountability for human trafficking in conflict situations.”

Women and girls, especially those who are displaced, are disproportionately affected by human trafficking for sexual exploitation, forced and early marriage, forced labor and domestic servitude.

“These operating risks, arising in times of crisis, are not new. They are linked and stem from existing structural inequalities, often based on intersectional identities, gender-based discrimination and violence, racism, poverty and weaknesses in child protection systems,” the experts said. .

Structural inequalities

Refugees, migrants, internally displaced persons and stateless persons are particularly vulnerable to attacks and abductions which lead to trafficking.

And the dangers are heightened by continued restrictions on protection and assistance, limited resettlement and family reunification, inadequate labor guarantees and restrictive migration policies.

“These structural inequalities are exacerbated in the periods before, during and after conflicts, and disproportionately affect children,” they added.

Target schools

Despite the links between the activities of armed groups and human trafficking – particularly targeting children – accountability “remains weak and prevention is weak”, according to UN experts.

Child trafficking – of which schools are often targeted – is “linked to grave violations committed against children in situations of armed conflict, including recruitment and use, abduction and sexual violence”, they said. .

“Sexual violence against children persists and often leads to trafficking for sexual exploitation, sexual slavery, forced pregnancy and forced marriage, as well as forced labor and domestic servitude.”

gender stereotypes

While girls are more often victims of trafficking for the purpose of sexual exploitation, boys are not immune to the scourge.

Gender stereotypes and discrimination can lead to men and boys not being identified as victims, leaving them without assistance or protection.

“Men and boys may face additional barriers to disclosing experiences of exploitation, particularly sexual exploitation,” they said, stressing the need to recognize that discriminatory attitudes and violence, based on orientation and gender identity, increase the risk of not receiving assistance or protection.

Organ harvesting

Experts also pointed out that in conflict situations, organ harvesting trafficking is another concern, as well as the inability of law enforcement to regulate and control the finances of armed groups and other traffickers – at least national and cross-border level.

“We have seen what can be achieved through coordinated action and political will to prevent trafficking in conflict situations,” they said, advocating for international protection, family reunification and expanding opportunities for resettlement and planned relocation.

Special rapporteurs and independent experts are appointed by the UN Human Rights Council, based in Geneva, to examine and report on a specific human rights theme or country situation. The posts are honorary and the experts are not remunerated for their work.

Click here for the names of the experts.

Protection services are “seriously lacking”

The UN refugee agency, UNHCR, warned on Friday that protection services for refugees and migrants making perilous journeys from the Sahel and the Horn of Africa to North Africa and the Europe, including survivors of human trafficking, are “seriously lacking”.

Its recently published report maps the protection services available to asylum seekers, refugees and migrants traveling along these routes.

It also highlights protection gaps in Burkina Faso, Cameroon, Chad, Côte d’Ivoire, Djibouti, Ethiopia, Mali, Mauritania, Morocco, Niger, Somalia and Sudan – particularly in terms of accommodation, identification of survivors and responses to gender-based violence and trafficking. .

“I am appalled by the abuses faced by refugees and migrants as they travel through the Sahel, East and Horn of Africa to North Africa, and sometimes to Europe,” said said the UNHCR special envoy for the situation in the central and western Mediterranean, Vincent Cochetel. . “Too many lives have been lost or shattered on these roads.”

Predators sign Yakov Trenin to two-year, $3.4 million deal Fri, 05 Aug 2022 21:00:25 +0000

Nashville, TN (August 5, 2022) – Nashville Predators President of Hockey Operations and General Manager David Poile announced today that the team has signed forward Yakov Trenin to a $3.4 million contract. dollars over two years.

Trenin, 25 (01/13/97), set multiple NHL career highs in 2021-22, including games played (80); goals (17); assists (7); points (24), plus-minus (+7); blocked shots (33); and blows (191). He joined his teammate Tanner Jeannot as one of six NHL players to record at least 191 hits and 17 goals last season; he finished fourth and sixth over the Predators in those categories, respectively. The 6-foot-2, 201-pound forward posted a 13-point improvement from his 2020-21 NHL rookie campaign and continued his regular-season performance by scoring three goals in four playoff games. the Stanley Cup for Nashville – including two in Game 4 against Colorado – tied Matt Duchene for the team leader.

Originally drafted by the Predators in the second round (55th overall) of the 2015 NHL Entry Draft, Trenin made his league debut with Nashville in 2019-20 and played in 146 career games, totaling 41 points (24g -17a). He also spent four seasons with the AHL’s Milwaukee Admirals, where he had 87 points (40g-47a) in 155 games and was named to the 2020 AHL All-Star Squad after scoring 20 goals and 35 points in 32 games. Trenin appeared in 10 career Stanley Cup Playoff games for the Predators, scoring five goals, including two multi-goals. He became the fourth rookie in Predators history to record a multi-goal playoff game when he did so in Game 5 of the 2021 first round against Carolina, and his five tallies came in his last six appearances. Before turning professional, the native of Chelyabinsk, Russia, played three seasons in the QMJHL for Gatineau (2014-17) and represented his country at the 2017 World Junior Championship.

How to Manhandle Money Thu, 04 Aug 2022 17:44:40 +0000


In my last column, I explained how governments and banks create money. The basics are incredibly simple – so simple, in fact, that the great non-traditional economist John Kenneth Galbraith once commented that:

“The process by which banks create money is so simple that the spirit is repelled. Where something so important is involved, a deeper mystery only seems decent.[1]

Figure 1 shows the almost offensively simple actions that create money. Banks place dollars, per year, in the deposit accounts of their customers, matching dollar for dollar by recording in dollars, per year, the additional debt owed by their customers. Governments pour dollars into the bank accounts of their citizens every year, and the same funds, dollar for dollar, into the reserve accounts of banks.

Figure 1: The absolute bases of money creation by banks and governments. (Steve Keen)

There are more steps involved, as I explained in my last column, but there is no “deeper mystery”: Banks and governments can both create money simply because ‘they can both enter numbers into bank deposit accounts. That’s it.

However, if you read an economics textbook, you are likely to come across much more obscure topics, such as fractional reserve banking, reserve lending, money multiplier, loanable funds. These esoteric concepts have one thing in common: they are all wrong! They mutilate the money, rather than explain it.

It wouldn’t matter if it was just stupid stories that unimportant people would believe. But, unfortunately, these are stories believed by economists who often have substantial power over economic policy. These stories can therefore have incredibly harmful effects on the real economy.

For example, guess what Charles Plosser, former President of the Federal Reserve Bank of Philadelphia, was most worried about during the depths of the Great Recession in December 2009, when unemployment in the United States hit 10%?


His argument was that the cost banks faced for “holding vast excess reserves…could lead to a rapid increase in the money multiplier and a conversion of excess reserves into loans or borrowed money… Thus, I see greater upside risk over the medium term – the two to five year term – to inflation than the greenback. (“Federal Open Market Committee Minutes, December 15-16, 2009,” p. 55.) (The “Green Book” sets standards for an effective internal control system for federal agencies.)

Excess reserves are reserves in excess of the requirement, called required reserve rate, which banks must hold, equivalent to 10% of their deposits. Excess reserves were indeed high – they had grown from virtually zero to over $1 trillion in just 15 months (see Figure 2), thanks to the Federal Reserve’s deliberate policy of quantitative easing (QE). Plosser feared that these excess reserves would trigger a huge increase in the money supply (or M2) and thus trigger inflation.

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Figure 2: St. Louis FRED data on excess reserves (beyond those set by the reserve requirement ratio)

But instead, the rate of money creation remained low, comparable to the rate that applied when there were no excess reserves. However, the COVID-19 pandemic has also caused a huge increase in excess reserves, and this did lead to a rapid increase in the money supply (see Chart 3).

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Figure 3: Percent growth rate of M2. (Data: Federal Reserve Economic Data [FRED]St. Louis Fed)

So why did one increase in excess reserves have very little impact on the money supply, while another had a huge impact? This question is easily answered using the simple monetary system shown in Figure 1. Just add another asset to Figure 1—bonds held by banks—and another liability—the deposit accounts of banks. non-bank financial institutions (NBIFs) to banks, since QE bought bonds from both banks and NBIFs, such as pension funds, hedge funds, insurance companies, etc. Figure 4 adds four additional operations to Figure 1: the common practice of the Treasury selling bonds to banks at the same value as the deficit; QE for banks and NBFIs; and support payments during COVID-19.

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Figure 4: Quantitative easing and COVID-19 stimulus payments added to the basic model in Figure 1. (Steve Keen)

Presented this way, it’s easy to see why QE has done very little to increase the money supply, while COVID-19 payments have dramatically increased it.

Quantitative easing with the banks does not create money: it simply reduces the value of the bonds held by the banking sector and increases the value of their reserves by the same amount. In this way, it reverses the standard process of the Treasury issuing bonds equal to the deficit. The only way to create money would be for banks to lend out those excess reserves, which neoclassical economists like Plosser and former Fed Chairman Ben Bernanke thought would happen. As Bernanke said:

“Sharp increases in bank reserves brought about by central bank lending or securities purchases are a feature of the unconventional policy approach known as quantitative easing. The idea behind quantitative easing is to provide banks with substantial excess liquidity in the hope that they will choose to use some of that liquidity to lend. or buy other assets.[2] (Emphasis added.)

It was false hope, born out of a bad money-making model, as I will explain shortly.

Quantitative easing with NBFIs creates money, but NBFIs are not free to spend that money on physical economy goods and services. Instead, their first use of the funds should be to buy what they are authorized to buy when they receive the money: stocks, properties, etc., i.e. assets financial. This increase in silver significantly affected asset prices, but there was only a small ripple effect on the real economy, such as increased salaries for NBFI staff, profits from NBFI, purchases of goods from the physical economy (computers, data services, etc.). So this aspect of QE directly increased the amount of money in the financial system and indirectly increased the amount of money in the physical economy by a much smaller amount.

COVID-19 payments, on the other hand, created money that went directly to households and businesses in the physical economy, as opposed to the FIRE sector (finance, insurance and real estate). They were free to spend that money however they wanted – and we had a sudden boom, with the growth rate of money supply jumping sharply from 7% per year in February 2020 to 23% per year in June 2020, and reach a maximum growth rate of 27% per year in March 2021.

Quantitative easing has not boosted lending and money supply as Plosser and Bernanke thought, because the money creation models they believe in are simply wrong. The two models are fractional reserve banking and money multiplier (there is another false theory, loanable funds, but it is not relevant here). In both cases, banks can easily lend from their reserves. But economists have never checked the accounting involved, and that is simply wrong.

There are two ways to show banks that lend from reserves, neither works:

  • By showing declining reserves and rising deposits, which violates the fundamental law of accounting (see the first line of Figure 5); and
  • By showing declining reserves and rising loans (see the second row of Figure 5).

This is correct in accounting terms, but there is a problem: Where is the money the borrower is supposed to receive?

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Figure 5: The idea that banks can lend from their reserves violates essential accounting principles. (Steve Keen)

The only way this second line can show that the borrower is receiving money from the loan is if the loan is in cash. So for fractional reserve banking and the money multiplier to work, all loans must be cash. Figure 6 shows this: the public’s cash holdings increase by the same amount as their debt to banks has increased.

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Figure 6: On-reserve loans only work if the loans are in cash. (Steve Keen)

Cash loans may have been commonplace in the 19th century, but we are in the 21st century. Banks lend, very simply (as shown in Figure 1), by increasing their loans and deposits by the same amount. Reservations are irrelevant or, rather, they are an afterthought.

Think about the consequences of this flawed model. The substantial excess liquidity that Bernanke’s Fed was pumping into the banks was powerless – and yet it was this, not fiscal policy, that bore the brunt of the government’s efforts to pull the economy out of the Great Recession. On the other hand, because COVID-19 payments had to go directly to households and businesses, fiscal policy was used – and it had the necessary hit to get the job done not only to prevent an economic collapse, but also to make the COVID-19 recession the shortest in American history.

If policymakers had simply understood the accounting of money in 2008, rather than believing mainstream economic theory, then fiscal policy could have been used heavily to stimulate the economy out of its slump. But because they believed in these false traditional economic models, America struggled through the slowest recovery in its economic history.

There are serious consequences to being wrong about how money is created.

(As a footnote, the “required reserve ratio” was abolished in March 2020.)


1. John Kenneth Galbraith, “Money: Where It Came From, Where It Went” (Houghton Mifflin: Boston, 1975, p. 22).

2. Ben Bernanke, “The Federal Reserve’s Balance Sheet: An Update”, in “Federal Reserve Board Conference on Key Developments in Monetary Policy” (Washington, DC: Board of Governors of the Federal Reserve System, 2009, p.5).

The opinions expressed in this article are the opinions of the author and do not necessarily reflect the opinions of The Epoch Times.

Steve Keen


Professor Keen is a Distinguished Researcher at University College London, author and recipient of the Revere Prize from the Real World Economics Review. His main research interests are in the development of the complex systems approach to macroeconomics and the economics of climate change. He entered politics as the lead candidate in New South Wales for Australia’s new political party The New Liberals. His main research interests are in the development of the complex systems approach in macroeconomics and in the economics of climate change. In an unusual step for a retired academic, he entered politics as the lead candidate in New South Wales for Australia’s new political party The New Liberals.

Canceled flight ? Getting a refund could get easier Thu, 04 Aug 2022 13:28:28 +0000

Responding to a “flood of airline service complaints” during the pandemic, the US Department of Transportation on Wednesday proposed rule changes to make it easier for airline passengers to collect refunds for canceled or delayed flights.

As travel demand has reached near pre-pandemic levels, airlines have admitted they often lack the staff needed to operate flights, causing a rise in cancellations and delays – and complaints from travelers who say airlines have been slow to offer refunds.

Current rules require US airlines to pay refunds and flight vouchers for cancellations and “significant changes” to flight schedules, but do not clearly define what “significant changes” mean. As a result, refund policies vary between airlines, according to consumer advocates.

“This proposed rule would protect the rights of travelers and help ensure they get the timely refunds they deserve from airlines,” US Transportation Secretary Pete Buttigieg said in a statement.

Under the proposed rule, a “significant change” can mean a change in departure and/or arrival time of three hours or more for a domestic flight or six hours or more for an international flight. The definition of “significant” also includes a change of departure or arrival airport, an increase in the number of connections and a change in aircraft type if this means that the passenger experience is degraded.

Under the new rule, flight credits or vouchers would be valid indefinitely when passengers cannot fly for pandemic-related reasons, such as a government-imposed travel ban or border closures. The rule also requires airlines to pay refunds, rather than travel credits or vouchers, if the company “has received significant pandemic-related government assistance.” Most of the nation’s largest carriers received funding in 2020 and 2021 under the Coronavirus Aid, Relief and Economic Security Act to avoid mass layoffs.

“I am pleased that the Department of Transportation is now addressing this issue,” said Charles Leocha, president of Travelers United, an airline consumer advocacy group. But Leocha would like the agency to go further by shortening the three-hour window to change domestic flights to 90 minutes.

The Department of Transport fined Air Canada more than $2 million in November 2021 for what the agency described as “extreme delays” in reimbursing thousands of consumers for flights to or from of the United States which have been cancelled. The agency says it is pursuing fines against 10 other airlines for similar delays in paying refunds.

A spokesperson for a trade group that represents that country’s largest carriers declined to comment on the proposed rule, but said the airlines “provide the highest level of customer service and are committed to working with travelers to meet their individual circumstances”.

US airlines issued nearly $13 billion in cash refunds in 2020 and more than $8 billion in 2021, according to trade group Airlines for America. Complaints about refunds among airline passengers have been declining since May 2020, according to the group.

The airline trade group issued a statement last month admitting that carriers are still struggling to overcome pandemic-related issues.

“Our country’s ‘new normal’ has a steep learning curve, and American airlines are adapting and implementing long-term solutions as quickly as possible to keep things running smoothly. We recognize that our work is not over, which is exactly why we will continue to listen to our customers and take action to show our commitment to safety, service and you,” the post said.

Despite rising demand, airlines are struggling to return to the financially rosy pre-pandemic times when most carriers reported record profits. In the first quarter of 2022, US airlines reported a net loss of $5.1 billion, according to the US Bureau of Transportation Statistics.

The Aviation Consumer Protection Advisory Committee, a panel that advises the Department of Transportation, will hold its first hearing on the proposed rule on August 22 in Washington, D.C., but anyone interested can attend the meeting via Zoom after registering by line. Members of the public can submit comments on the proposed rules at, file number DOT-OST-2022-0089.


©2022 Los Angeles Times. Go to Distributed by Tribune Content Agency, LLC.

Tennessee Titans WR Robert Woods, CB Caleb Farley push each other in ACL recoveries – Tennessee Titans Blog Wed, 03 Aug 2022 12:38:03 +0000

NASHVILLE, Tenn. — Veteran wide Robert Woods and sophomore cornerback Caleb Farley are the Tennessee Titans’ version of iron sharpens iron.

Each suffered a torn left ACL last year. Farley’s injury happened on October 18 and Woods’ injury happened on November 13, so their recovery times are similar.

Woods and Farley began their offseason recovery process together shortly after the Titans sent a 2023 sixth-round pick to the Los Angeles Rams for Woods in March. Their mutual presence on the way back to the field was a mutually beneficial experience.

“We’re both hungry,” Farley said. “We have to push each other in the offseason, working with each other. It’s pretty cool to have someone to walk through fire with.”

Woods added: “Our injury timeline was around the same time when I came in and rehabilitated, so we were still doing the same exercises and then even challenging each other in the weight room.”

Their collaboration did not stop there. Woods had his eye on a ramp that connects the first and second levels of the Saint Thomas Sports Park parking lot, where the team passes through training camp.

Todd Toriscelli, director of sports medicine for the Titans, gave the go-ahead for Woods to run the hill, providing another opportunity to compete with Farley. They ran the hill once a week, pushing each other and sharing feedback on what helped or hurt their knees in the process.

At 30, Woods is relishing the opportunity to compete with a younger teammate like 23-year-old Farley. Farley’s presence helps him stay young.

“Caleb is a resource for me,” Woods said. “He’s young, talented, strong, fast, quick. He’s someone I can work with and feed off of him. Being able to run hills, having someone next to me, being able to compete .”

Farley pointed to veteran advice when asked how Woods helped him.

“Just to have this guy there to help me out this offseason; talking about football has been a huge thing for me,” Farley said. “It’s definitely a luxury. Robert Woods is a great teammate. It’s been a blessing for me to be around a guy like him to watch and learn from.”

Most of the advice Farley referenced has come since the two returned to the field for OTAs and minicamp. Farley and Woods were then limited participants and trained with knee braces, but now they face off in training camp without them.

They don’t yet participate in one-on-one periods that pit receivers running full-speed runs against defensive backs, but they’re still finding ways to improve by getting their own one-on-one work. .

Woods works on his outings off the line of scrimmage and up the road as Farley tries to match his moves.

“There are certain things that we keep them away from,” Titans coach Mike Vrabel said. “They were able, when we’re doing these drills, to go out there and find ways to work for a few minutes with each other, which is kind of nice. They’re both going through the same process, and they’re positions mirrored.”

Woods is known for his sharp road racing, so it’s a great learning experience for Farley. The 6-foot-3 Farley features a combination of height and speed that rivals any cornerback Woods will face this season.

They’ve been up against a few times in team and 7-on-7 periods so far. Farley showed sticky coverage on some routes, forcing quarterback Ryan Tannehill to choose other options.

However, Woods used his seasoned veteran ways to get the best of Farley when he delivered a deep pass from Tannehill during a recent drive, despite Farley being able to play on the ball.

The Titans are counting on Woods to make those kinds of plays on Sundays as he helps guide a young group of receivers in their quest to develop a powerful passing offense without AJ Brown, who was traded to the Philadelphia Eagles in April. . They will also rely on Farley to play a starting role at cornerback and help their pass defense.