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An unrelenting heat wave scorches parts of Russia. The capital is suffering: smoke from wild fires chokes Moscow, where temperatures in July exceeded the norm by over seven degrees Celsius (a record for 130 years of weather monitoring) and the mortality rate doubled in July as well.
One of the interesting byproducts of the global financial crisis has been the induced crisis in the economics profession. More precisely, there has been a minor intellectual crisis in macroeconomic thought, with an erosion of what had been previously believed to have been a new synthesis in macroeconomics.
