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2262-31
Followers can be defined by their position as subordinates or by their behavior of going along with leaders' wishes. But followers also have power to lead. Followers empower leaders as well as vice versa. This has led some leadership analysts like Ronald Heifetz to avoid using the word followers and refer to the others in a power relationship as "citizens" or "constituents." Heifetz is correct that too simple a view of followers can produce misunderstanding. In modern life, most people wind up being both leaders and followers, and the categories can become quite fluid. Our behavior as followers changes as our objectives change. If I trust your judgment in music more than my own, I may follow your lead on which concert we attend (even though you may be formally my subordinate in position). But if I am an expert on fishing, you may follow my lead on where we fish, regardless of our formal positions or the fact that I followed your lead on concerts yesterday.

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Color is an interpretation of wavelengths, one that only exists internally. And it gets stranger, because the wavelengths we're talking about involve only what we call "visible light", a spectrum of wavelengths that runs from red to violet. But visible light constitutes only a tiny fraction of the electromagnetic spectrum ― less than one ten-trillionth of it. All the rest of the spectrum ― including radio waves, microwaves, X-rays, gamma rays, cell phone conversations, wi-fi, and so on ― all of this is flowing through us right now, and we're completely unaware of it. This is because we don't have any specialized biological receptors to pick up on these signals from other parts of the spectrum. The slice of reality that we can see is limited by our biology.

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What is unusual about journalism as a profession is its lack of independence. In theory, practitioners in the classic professions, like medicine or the clergy, contain the means of production in their heads and hands, and therefore do not have to work for a company or an employer. They can draw their income directly from their clients or patients. Because the professionals hold knowledge, moreover, their clients are dependent on them. Journalists hold knowledge, but it is not theoretical in nature; one might argue that the public depends on journalists in the same way that patients depend on doctors, but in practice a journalist can serve the public usually only by working for a news organization, which can fire her or him at will. Journalists' income depends not on the public, but on the employing news organization, which often derives the large majority of its revenue from advertisers.

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In most of the world, capitalism and free markets are accepted today as constituting the best system for allocating economic resources and encouraging economic output. Nations have tried other systems, such as socialism and communism, but in many cases they have either switched wholesale to or adopted aspects of free markets. Despite the widespread acceptance of the free-market system, markets are rarely left entirely free. Government involvement takes many forms, ranging from the enactment and enforcement of laws and regulations to direct participation in the economy through entities like the U.S.'s mortgage agencies. Perhaps the most important form of government involvement, however, comes in the attempts of central banks and national treasuries to control and affect the ups and downs of economic cycles.

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Inflationary risk refers to uncertainty regarding the future real value of one's investments. Say, for instance, that you hold $100 in a bank account that has no fees and accrues no interest. If left untouched there will always be $100 in that bank account. If you keep that money in the bank for a year, during which inflation is 100 percent, you've still got $100. Only now, if you take it out and put it in your wallet, you'll only be able to purchase half the goods you could have bought a year ago. In other words, if inflation increases faster than the amount of interest you are earning, this will decrease the purchasing power of your investments over time. That's why we differentiate between nominal value and real value.

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