Episodes
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Daniel Susskind examines the brief and powerful history of economic growth and puts it into perspective with human prosperity in Growth: A History and a Reckoning (Harvard UP, 2024).
Susskind acknowledges the tremendous benefits of economic growth, which he credits with freeing billions of people from poverty and allowing us to live longer and healthier lives. He also recognizes the real and substantial costs of our relentless pursuit of growth at the expense of other considerations and moral challenges.
Responding to the degrowth movement, Susskind counters the assumption that simply reducing growth will lead to better outcomes.
In particular, Susskind points out that our key measure of growth, GDP, is one imperfect metric that is neither intended nor effective as a proxy for well-being. He recommends a more balanced "dashboard" approach that includes GDP along with other success measures.
Reducing our myopic focus on GDP does not mean less growth. Susskind presents an alternate approach, arguing that we should continue to pursue growth through the creative application of new ideas that allow us to use our finite natural resources more effectively and efficiently.
Ideas, he points out, are not a scarce asset but an infinite one; by shifting to focus on new ways of thinking and working Susskind shows how we can continue to pursue the benefits of growth while mitigating the high costs.
Book referenced:
GDP: A Brief but Affectionate History by Diane Coyle
Recommended reading:
Planting the Oudolf Gardens by Rory Dusoir
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Balihar Sanghera and Elmira Satybaldieva’s Rentier Capitalism and Its Discontents: Power, Morality and Resistance in Central Asia (Palgrave MacMillan, 2021) evaluates today’s economic political, social and ecological crises through the lens of rentier capitalism and countermovements in Central Asia. Over the last three decades, the rich and powerful have increased their wealth and political power to the detriment of social and environmental well-being. But their activities have not gone unchecked; grassroots activism has resisted the damaging effects of the neoliberal commodification of things.
Providing a much-needed theorisation of the moral economy and politics of rent, this book offers in-depth case studies on finance, real estate and natural resources in Kazakhstan and Kyrgyzstan. The authors show the mechanisms of rent extraction, their moral justifications and legitimacy, and social struggles against them.
This book not only offers insight into social and economic dynamics in Central Asia, but invites us all to interrogate what purpose, and whom, economies ultimately serve.
Cholpon Ramizova is a London-based writer and researcher. She holds a Master's in Migration, Mobility and Development from SOAS, University of London. Her thematic interests are in migration, displacement, identity, gender, and nationalism - and more specifically on how and which ways these intersect within the Central Asia context.
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Episodes manquant?
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Listen to this interview of Darja Smite, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and also research scientist at SINTEF; and, Jarle Hildrum, Director, Deloitte Consulting, Norway; and also, Daniel Mendez, Professor of Software Engineering at Blekinge Institute of Technology, Sweden, and as well, Senior Scientist heading the research division Requirements Engineering at fortiss. We talk about their paper Work-from-home is here to stay: Call for flexibility in post-pandemic work policies (JSS 2023).
Daniel Mendez : "Two key takeaways from our collective experience here are, No.1, figures don't need to be absolute — so, we should really focus on the essence of what we want to convey. And No.2, in terms of what we want to convey, I think that every figure ideally has one key message, one key takeaway."
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In 2012, to stave off the collapse of their currency union, Europe’s leaders sought to end the so-called “doom loop” between the solvency of their governments and their banking systems. Two years later, a banking union was born.
Created as a crisis response, like the postwar coal and steel community, this ten-year-old union is another step in Europe’s long integrationist road. Yet – as Nicolas Véron points out in Europe’s Banking Union At Ten: Unfinished Yet Transformative (Bruegel, 2024) - the effort to "break the vicious circle between banks and sovereigns remains fragile and incomplete".
Together with Jean Pisani-Ferry, Nicolas Véron is a co-founder of the Bruegel public-policy think tank in Brussels and a scholar at the Peterson Institute for International Economics (PIIE) in Washington. A specialist in financial systems and regulatory reform, he is an alumnus of the École Polytechnique and the École nationale supérieure des mines in Paris and - until 2000 - was a French civil servant. He has written and co-written many papers on banking supervision, crisis management, and Eurozone policy governance.
*The author's book recommendations were Central Banking Before 1800: A Rehabilitation by Ulrich Bindseil (OUP, 2020) and 7500 Euros: Pastiches politico-littéraires by David Spector (Wombat, 2022).
Tim Gwynn Jones is an economic and political-risk analyst at Medley Advisors, who also writes the twenty4two newsletter on Substack.
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Over the course of the Vietnam War, the United States dropped 500,000 tons of bombs over Cambodia—more than the combined weight of every man, woman, and child in the country.
Fifty years after the last sortie, residents of rural Cambodia are still coping with the unexploded ordnance that covers their land. In When the Bombs Stopped: The Legacy of War in Rural Cambodia (Princeton UP, 2024), Erin Lin investigates the consequences of the US bombing campaign across postconflict Cambodia.
Drawing on interviews, original econometric analysis, and extensive fieldwork, Lin upends the usual scholarly perspective on the war and its aftermath, presenting the viewpoint of those who suffered the bombing rather than those who dropped the bombs. She shows that Cambodian farmers stay at a subsistence level because much of their land is too dangerous to cultivate—and yet, paradoxically, the same bombs that endanger and impoverish farming communities also protect them, deterring predatory elites from grabbing and commodifying their land.
Lin argues that the half-century legacy of American bombs has sedimented the war into the layers of contemporary Cambodian society. Policies aimed at developing or modernizing Cambodia, whether economic liberalization or authoritarian consolidation, must be realized in an environment haunted by the violence of the past.
As the stories Lin captures show, the bombing served as a critical juncture in these farming villages, marking the place in time where development stopped.
Our guest today is Erin Lin, who is an Associate Professor of Political Science at The Ohio State University.
Our host is Eleonora Mattiacci, an Assistant Professor of Political Science at Amherst College. She is the author of "Volatile States in International Politics" (Oxford University Press, 2023).
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Amy Schiller, who spent a number of years working in both political and major gift fundraising, has a new book detailing some of the fundamental problems currently afflicting American philanthropy and how to correct some of these problems. Schiller, a political theorist currently at Dartmouth College’s Society of Fellows, brings two important perspectives to her research in The Price of Humanity: How Philanthropy Went Wrong—And How to Fix It (Melville House, 2023)—combining her experience in the philanthropic world with her training and expertise in political theory, especially democratic theory. The Price of Humanity also provides the reader with a vital history of philanthropy and giving, especially in the West, and how thinking about the role of supporting others as part of the common good has shifted over the course of more than two millennia. Schiller makes an important point about how St. Augustine, in his teachings on donations and giving, shifted the framing and understanding of giving from a community-based common good to a global approach to donating, tying the act of giving to individual salvation. This approach not only highlighted suffering and need and stratified those who give from those who are in need, but it also disconnected the philanthropic experience from the immediate community while objectifying those who are in poverty or generally in need.
The Price of Humanity doesn’t dwell in the past but provides this important lens that continues to apply to our contemporary thinking about giving. This more disconnected approach is also overlaid, in our current environment, with the demand that non-profits and philanthropies product quantifiable goods: how many cases of malaria have been eradicated, how much food has been provided to those experiencing scarcity, how are the dollars donated spent and by whom and in what ways? Thus, in so many ways, philanthropic organizations have to report out their successes in the same ways that private corporations need to detail their fiscal health to their boards of directors and shareholders. All of these approaches tend to disconnect the act of giving from the world in which we live, according to Schiller, and this disconnection makes the reason for giving much more attenuated, distancing us from each other, our communities, and the real role of the common good. Instead of linking individuals together in our shared love for one another and humanity as a whole—which is actually what the word philanthropy means in the original Greek—we live in a philanthropic world that separates and isolates. The Price of Humanity spotlights different approaches to giving, with discussions of the Gates Foundation, Effective Altruism, Robber Barons and the Gilded Age, and other forms of the business of giving. Schiller also focuses on modern examples of philanthropy as the common good, which brings it into the realm of democratic theory, as a means to provide the flourishing of humanity, not merely fulfilling the desperate needs of individuals. This is a fascinating and valuable interrogation of the idea of giving to others, and how we need to reconsider our thinking about the act of giving itself and the role that this act plays in our community and in our democracy.
Lilly J. Goren is a professor of political science at Carroll University in Waukesha, WI. She is co-host of the New Books in Political Science channel at the New Books Network. She is co-editor of The Politics of the Marvel Cinematic Universe (University Press of Kansas, 2022), as well as co-editor of the award winning book, Women and the White House: Gender, Popular Culture, and Presidential Politics (University Press of Kentucky, 2012). She can be reached @gorenlj.bsky.social
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Germany and China: How Entanglement Undermines Freedom, Prosperity and Security (Bloomsbury, 2024) is a groundbreaking book, of which the findings have significant implications both for German-China relations and also in understanding the rising influence of autocratic China on liberal democracies globally. In today's interview, Associate Professor Andreas Fulda and I spoke about Germany's entanglement with China, and the extent of Germany's dependancies on China in terms of economics, technology, politics and academia. We spoke about the blind spots of policy makers and academics have, and the way that China policy is constructed and interpreted as a result. We also spoke about the implications for national security and German sovereignty, and the way that Germany entanglement with China is a warning sign for democratic states everywhere.
Dr Fulda is a political scientist and China scholar with a keen interest in the philosophy of science. You can listen to an interview about his previous book, The Struggle for Democracy in Mainland China, Taiwan and Hong KongSharp Power and its Discontents (Routledge: 2019) here.
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In recent years, philanthropy, the use of private assets for the public good, has come under renewed scrutiny. Do elite philanthropists wield too much power? Is big-money philanthropy unaccountable and therefore anti-democratic? And what about so-called "tainted donations" and "dark money" funding pseudo-philanthropic political projects? The COVID-19 pandemic has amplified many of these criticisms, leading some to conclude that philanthropy needs to be fundamentally reshaped to play a positive role in our future.
In What is Philanthropy For? (Bristol University Press, 2023), Rhodri Davies examines why it's important to ask what philanthropy is for, as it has shaped our world for centuries. Considering the alternatives, including charity, justice, taxation, the state, democracy, and the market, he explores the pressing questions that philanthropy must tackle to be equal to the challenges of the 21st century.
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With the rapid development of artificial intelligence and labor-saving technologies like self-checkouts and automated factories, the future of work has never been more uncertain, and even jobs requiring high levels of human interaction are no longer safe. The Last Human Job: The Work of Connecting in a Disconnected World (Princeton UP, 2024) explores the human connections that underlie our work, arguing that what people do for each other in these settings is valuable and worth preserving.
Drawing on in-depth interviews and observations with people in a broad range of professions--from physicians, teachers, and coaches to chaplains, therapists, caregivers, and hairdressers--Allison Pugh develops the concept of "connective labor," a kind of work that relies on empathy, the spontaneity of human contact, and a mutual recognition of each other's humanity. The threats to connective labor are not only those posed by advances in AI or apps; Pugh demonstrates how profit-driven campaigns imposing industrial logic shrink the time for workers to connect, enforce new priorities of data and metrics, and introduce standardized practices that hinder our ability to truly see each other. She concludes with profiles of organizations where connective labor thrives, offering practical steps for building a social architecture that works.
Vividly illustrating how connective labor enriches the lives of individuals and binds our communities together, The Last Human Job is a compelling argument for us to recognize, value, and protect humane work in an increasingly automated and disconnected world.
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How do unequal societies function? In Holding It Together: How Women Became America's Safety Net (Portfolio, 2024), Jesscia Calarco, an Associate Professor of Sociology at the University of Wisconsin-Madison, examines how America’s DIY society depends on the labour of mothers and excludes the sorts of social supports present in other countries. This dependence has hugely negative social and individual consequences, as demonstrated by the rich qualitiative and quantitative data examined in the book. Alongside the analysis of the problems and consequences of women’s role in the US, the book also thinks through solutions, demonstrating how much political discourse is far from the collective action that is likely to be effective for social change. An outstanding contribution to social science and contemporary politics, the book is essential reading for anyone interested in contemporary social inequalities.
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Why do international donors brand foreign aid? And what impact does it have on popular attitudes towards them? Join Matthew Winters and Petra Alderman as they talk about soft power, foreign aid branding, and popular attitudes towards USAID and Japan in India, Bangladesh, and Uganda. They discuss whether foreign aid branding works and address several tensions linked to this practice, including branding in the context of unequal North-South power relations and colonial legacies.
Matthew Winters is Professor of Political Science at the University of Illinois and a recent holder of the Fulbright-University of Birmingham Distinguished Scholar Award at the International Development Department at the University of Birmingham.
Petra Alderman is a Post-Doctoral Research Fellow in Leadership for Inclusive and Democratic Politics at the University of Birmingham and Research Fellow at CEDAR.
The People, Power, Politics podcast brings you the latest insights into the factors that are shaping and re-shaping our political world. It is brought to you by the Centre for Elections, Democracy, Accountability and Representation (CEDAR) based at the University of Birmingham, United Kingdom. Join us to better understand the factors that promote and undermine democratic government around the world and follow us on X (Twitter) at @CEDAR_Bham!
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Think that today's debates about the role of the Federal Reserve Bank, financial regulation, "too big to fail", etc. are new? Think again. Who should control banks, who should regulate banks, what should banks even do--these questions have been debated since the founding of the Republic. Replace CNBC's David Faber with Alexander Hamilton, and Joe Kernan with Thomas Jefferson (or James Madison) and the arguments about banking, moral hazard, and regulation would be largely the same, though the attire would be quite different.
Kathleen Day's new book Broken Bargain: Bankers, Bailouts, and the Struggle to Tame Wall Street (Yale University Press, 2019) provides a detailed two-century history of the give and take between government authority and financial institutions (and the individuals caught between them). The challenges over time have changed--the absence of a single currency in the early 19th century, insufficient credit in the late 19th century, the roaring and patently stupid 1920s, and then the whole range of financial innovations in the postwar period--but the key issues recur over and over again. Day sides in the end with the need for consistent regulation from impartial and empowered bureaucrats, but alas, the last two centuries have shown that they are hard to come by. Not everyone will agree with her take on banks and regulation, but there can be no doubt about the underlying "capitalism is messy" theme running through our history and this book.
Daniel Peris is Senior Vice President at Federated Investors in Pittsburgh. Trained as a historian of modern Russia, he is the author most recently of Getting Back to Business: Why Modern Portfolio Theory Fails Investors. You can follow him on Twitter @Back2BizBook or at http://www.strategicdividendinvestor.com
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Since coming to power in 2002, Turkey’s governing party, the AKP, has made poverty relief a central part of their political program. In addition to neoliberal reforms, AKP’s program has involved an emphasis on Islamic charity that is unprecedented in the history of the Turkish Republic. To understand the causes and consequences of this phenomenon, Zencirci introduces the concept of the Muslim Social, defined as a welfare regime that reimagined and reconfigured Islamic charitable practices to address the complex needs of a modern market society.
In The Muslim Social: Neoliberalism, Charity, and Poverty in Turkey (Syracuse UP, 2024), Zencirci explores the blending of religious values and neoliberal elements in dynamic, flexible, and unexpected ways. Although these governmental assemblages of Islamic neoliberalism produced new forms of generosity, distinctive notions of poverty, and novel ways of relating to others in society, Zencirci reveals how this welfare regime privileged managerial efficiency and emotional well-being at the expense of other objectives such as equality, development, or justice. The book provides a lens onto the everyday life of Islamic neoliberalism, while also mapping the kind of political concerns that animate poverty governance in our capitalist present.
Gizem Zencirci is an associate professor of political science at Providence College. Her work has been published in journals such as the International Journal of Middle East Studies, Journal of the American Academy of Religion, and the Journal of Cultural Economy.
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Esoteric and frequently disinterested in the public good, financial institutions can be hard to navigate for those seeking to advance social welfare. My Episode 10 guest Paul Katz of the Jain Family Institute is trying to change that by building innovative tools to help visionary leaders in Brazil grow social wealth. During our lively exchange, Paul helped me understand how much history fits into his efforts and his organization's vision. We talked about Paul's discovery of his superpowers derived from a PhD in history, the importance of being a well-rounded researcher, and how it's often difficult to separate neatly quant from qual. We also discussed the significance of networking and wondered why historians routinely undervalue their expertise, thereby undercutting their chances of success in non-academic domains. Ultimately, our conversation is about the surprising ways to use history for the public good, contribute to organizational effectiveness, and explore new horizons for professional growth.
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What is social mobility? In Social Mobility (Polity Press, 2023), Anthony Heath, an Emeritus Professor of Sociology at the University of Oxford and Yaojun Li, a Professor of Sociology at the University of Manchester, explore and explain this concept, setting out why the idea matters for both social scientists and the general reader. The book draws on a huge range of research, outlining the history of social mobility research, discussing central theories and approaches in sociology and economics, and detailing international comparisons and trends. The book highlights how social mobility is shaped by gender and ethnicity, along with the role of social class. Ultimately the book helps to explain who gets ahead in society and why; as a result the book will be essential reading across the social sciences, as well as for anyone interested in how society works.
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Poverty is big business in America. The federal government spends about $900 billion a year on programs that directly or disproportionately impact poor Americans, including antipoverty programs such as the earned income tax credit, Medicaid, and affordable housing vouchers and subsidies. States and local governments spend tens of billions more.
Ironically, these enormous sums fuel the “corporate poverty complex,” a vast web of hidden industries and entrenched private-sector interests that profit from the bureaucracies regulating the lives of the poor. From bail bondsmen to dialysis providers to towing companies, their business models depend on exploiting low-income Americans, and their political influence ensures a thriving set of industries where everyone profits except the poor, while U.S. taxpayers foot the bill.
In Poverty for Profit: How Corporations Get Rich off America’s Poor (The New Press, 2024), veteran journalist Anne Kim investigates the multiple industries that infiltrate almost every aspect of the lives of the poor—health care, housing, criminal justice, and nutrition. She explains how these businesses are aided by public policies such as the wholesale privatization of government services and the political influence these industries wield over lawmakers and regulators. Supported by original investigative reporting on the lesser-known players profiting from the antipoverty industry, Poverty for Profit adds a crucial dimension to our understanding of how structural inequality and structural racism function today.
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Dialysis is a medical miracle, a treatment that allows people with kidney failure to live when otherwise they would die. It also provides a captive customer for the dialysis industry, which values the steady revenues that come from critically required long-term care that is guaranteed by the government.
Tom Mueller's six year deep dive into the dialysis industry has yielded his latest book, How to Make a Killing: Blood, Death, and Dollars in American Medicine (W. W. Norton, 2023). It's both an historical account of this lifesaving treatment and an indictment of the industry that is dominated by two for-profit companies that control ~80% of the market.
There is a precarious balance between ethical care for patients and the prioritization of profits for the providers, a tension that has led to ethical, political, and legal debates about the rationing and exploitation of life-saving care and quality of life.
Dialysis services are desperately needed by patients who require the dangerous, uncomfortable, and exhausting treatments multiple times per week, and pay for it through complex insurance procedures.
Tom Mueller’s book includes a vivid account of CEOs who lead their companies with messianic zeal to drive revenues continually up while simultaneously reducing the cost of care. He introduces us to the doctors charged with reducing those costs even at the expense of high-quality care and negative health outcomes. And we meet the patients themselves, who have little choice but to put their lives and well-being at the mercy of this system.
How did a lifesaving medical breakthrough become a for-profit enterprise that threatens many of the people it’s meant to save? And who are the brave people -patients, doctors, and employees of the system who are willing to tell their stories despite tremendous pressure to remain silent? And why do we as Americans accept worse outcomes at higher costs than the rest of the world?
Tom Mueller's highly readable yet devastating book illustrates the dialysis industry as a microcosm of American medicine.
Mueller challenges us to find a solution for dialysis, an approach that could also provide the opportunity to begin fixing our country’s dysfunctional healthcare system and a fighting chance at restoring human health outcomes, rather than the extraction of profits, as its true purpose.
To contact Tom Mueller, visit www.tommueller.co
Suggested reading:
The Body's Keepers by Paul L. Kimmel, M.D.
The Occasional Human Sacrifice: Medical Experimentation and the Price of Saying No by Carl Elliott
Also mentioned:
How to Get Away with Merger by Thomas G. Wollman (NBER working paper, 2020)
"How Acquisitions Affect Firm Behavior and Performance" by Eliason, Heebsh et al. (The Quarterly Journal of Economics, 2020)
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The UAW's Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants (IRL Press, 2023) is the first in-depth assessment of the United Auto Workers' efforts to organize foreign vehicle plants (Daimler-Chrysler, Mercedes-Benz, Nissan, and Volkswagen) in the American South since 1989, an era when union membership declined precipitously. Stephen J. Silvia chronicles transnational union cooperation between the UAW and its counterparts in Brazil, France, Germany, and Japan and documents the development of employer strategies that have proven increasingly effective at thwarting unionization.
Silvia shows that when organizing, unions must now fight on three fronts: at the worksite; in the corporate boardroom; and in the political realm. The UAW's Southern Gamble makes clear that the UAW's failed campaigns in the South can teach hard-won lessons about challenging the structural and legal roadblocks to union participation and effectively organizing workers within and beyond the auto industry.
Stephen J. Silvia is a Professor at American University's School of International Service, where he teaches international economics, international trade relations, and comparative politics. He is the author of Holding the Shop Together.
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On this episode of International Horizons, Francesco Duina, Charles A. Dana Professor of Sociology at Bates College and Luca Storti, Associate Professor of Economic Sociology at the University of Turin in Italy and a Research Fellow of the Ralph Bunche Institute for International Studies, discuss the rise of inequalities around the globe and the divergent attitudes towards them since 1970. How can those inequalities be broken down?
In this week’s episode, Duina and Storti preview their book-in-progress on The Social Acceptance of Inequality, and they examine four types of logic leading us to accept inequalities in today’s world. Not surprisingly, the concept of meritocracy plays a major role in our thinking about contemporary inequality, although perhaps more so in the United States than in Europe.
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A sweeping history of the United States’ economy and politics, in Shock Values: Prices and Inflation in American Democracy (U Chicago Press, 2024), Carola Binder reveals how the American state has been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived dangers of price fluctuations. Carola Binder narrates how the pains of rising and falling prices have brought lasting changes for every generation of Americans. And with each brush with price instability, the United States has been reinvented—not as a more perfect union, but as a reflection of its most recent failures.
Shock Values tells the untold story of prices and price stabilization in the United States. Expansive and enlightening, Binder recounts the interest-group politics, legal battles, and economic ideas that have shaped a nation from the dawn of the republic to the present.
Carola Binder is Associate Professor and Chair of Economics at Haverford College. Twitter.
Brian Hamilton is chair of the Department of History and Social Science at Deerfield Academy. Twitter. Website.
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