text:
Cato Journal
vol. 12, no. 1 (Spring/Summer), 1992, pp. 165-178
The Limits of Macroeconomics
Roger W. Garrison
There is no disillusionment in learning that any field of study or any subfield, such as macroeconomics, has its limits. No set of ideas is limitless in any meaningful sense. Yet, the notion of limits attaches itself naturally to macroeconomics, as in the title phrase, in a way that would seem almost unnatural if paraphrased for microeconomics. Modern macroeconomics is constantly reaching in one direction for its microeconomic roots and in the other direction for its policy relevance. Pronouncements by contemporary macrotheorists together with the track record of contemporary policymakers are enough to make us doubt that macroeconomics can reach roots and relevance at the same time.
Shiela Dow [1985, p. 225] suggests that a fundamental difference between New Classicism, which she includes in her treatment of mainstream views, and Post Keynesianism, which she favors over the mainstream, is that the New Classicists allow their micro-based theory to delimit their policy prescriptions while the Post Keynesians allow policy relevance to guide their theoretical formulations. If we accept Dow's characterization, we can take the gulf that separates these two schools as a measure of the difficulties faced by macroeconomists in search of a theory that is both theoretically sound and policy rich. And these difficulties can be multiplied in accordance with the title of a recent book by Edmund Phelps, Seven Schools of Macroeconomic Thought [1990], which suggests a divergence of views rather than a convergence in the field of macroeconomics.
Somewhere between microeconomic principles and macroeconomic phenomenon lies a market process whose complexity imposes strict limits on macroeconomic theory�and even stricter limits on macroeconomic policy. Section II deals with this complexity by drawing on pre-Keynesian treatments of capital theory and suggests that considerations of the economy's capital structure allow for the most forthright and insightful integration of the critical time element into macroeconomic theorizing. Section III argues that capital-free treatments of time in mainstream macroeconomics can be seen as indirect and inadequate ways of coping with the thorny issues of capital theory. In Section IV the limits of macroeconomics are identified in terms of entrepreneurial expectations in the context of a complex capital structure. Finally, Section V considers the nature of the limits of macroeconomics and the implications for policy activism, institutional reform, and theoretical advancement.
II. Capital Theory: It's About Time
Except for the Austrian school and some sectors of the Swedish and early Neoclassical schools, the contending macroeconomic theories are united by a common omission. They neglect to deal with capital or, more pointedly, the economy's intertemporal capital structure, in any straightforward and satisfactory way. Yet capital theory offers the richest and most promising forum for the treatment of the critical time element in macroeconomics. It is capital, according to an early English view, that puts a time interval between the beginning and end of enterprise [Jevons, 1970, pp. 226]. In the Swedish construction, capital embodies the tying-up of resources over time and is measured (in compound units of dollar-years) as the "waiting" done by the owners of capital [Cassel, 1903, pp. 96ff]. The Austrians dealt with this same time element in terms of the "degree of roundaboutness" that characterizes the economy's production process [Böhm-Bawerk, v. 2, pp. 79-88 and passim]. Each of these three formulations has served as a basis for theorizing about capital and could serve as a guide for devising a capital-based macroeconomics.
But capital considerations, to the extent they are accommodated at all in modern macroeconomics, are not well anchored in any of these early insights that link capital to time. In conventional income-expenditure analysis, enterprise has a beginning or an end but not both. The existing structure of capital, summarily treated as the economy's capital stock, is taken as a given, an end of some process of accumulation whose beginnings are no part of the theory. Additions to the capital stock, investments, have only a beginning. Inspired by Keynes's animal spirits or by some other similarly unexplained state of business confidence or profit expectations, current investment activity must eventually come to some end, but that end comes into view only in theories of economic growth, not in macroeconomics per se. The relationships among macroeconomic magnitudes in the context of beginningless capital and endless investment do not adequately reflect the time element in macroeconomics.
Capital in mainstream macroeconomics is neither marked by beginning and end nor conceived as Casselian "waiting." Theoretical constructions in which investment is simply one of several categories of spending do not allow for the two-dimensional measure suggested by Cassel. Spending by consumers, investors, and the government during a given accounting period is measured in dollars and not dollar-years. And if net investment is to be added to the existing capital, then capital too must be measured simply in dollars. A time dimension cannot be accorded capital and investment without destroying their conformability with the other spending magnitudes. But if, in the same theoretical construction, the rate of interest is conceived as the price of capital, an internal inconsistency is introduced. Dimensional conformability requires that the interest rate must be the "price" of something measured in dollar-years.(1) The common practice of glossing over such difficulties in capital theory by not explicitly assigning dimensions to capital was noted early on by Joan Robinson [1953, p. 47]. Flagging such dimensional difficulties here is not intended, as Robinson would have had it, as a prelude to a wholesale dismissal of Neoclassical production theory but rather as further justification for maintaining an explicit time dimension in the concepts of capital and investment�and particularly in the treatment of the economy's capital structure as incorporated into macroeconomics.
The Austrian concept of "roundaboutness" is typically conceived as an average period of production and is expressed simply in years. It is the time dimension distilled from the dimensionally complex concept of "waiting." If roundaboutness has been averaged over a total capital value, then there is a corresponding total roundaboutness that is conceptually equivalent to Casselian waiting. But roundaboutness, like waiting, plays no role in mainstream macroeconomics. It has been rejected on two grounds. One is an argument, initially made by John B. Clark [1924] and later defended by Frank Knight [1934], that in an ongoing economy, production and consumption are, in effect, simultaneous and that accordingly roundaboutness, if at all definable, is irrelevant. The other is the demonstration, implicit in the work of Piero Sraffa [1960] and explicit in a key article by Paul Samuelson [1966], that there is an inherent difficulty in ranking production processes either on the basis of capital intensity or on the basis of the (average) roundaboutness associated with each. The first claim that production time is irrelevant lacks plausibility; the second claim that roundaboutness, which has both a value dimension and a time dimension, is uniquely related to neither of the two separate dimensions is not in doubt. Nor is it in doubt, for that matter, that the inverse relationship, emphasized by the Austrian economists, between roundaboutness and the interest rate is clouded by the definitional dependence of roundaboutness on capital value and hence on the rate of interest. But neither Knight nor Samuelson�nor anyone else�has provided adequate grounds for ignoring or downplaying the admittedly complex time element embodied in capital and investment.
The fact that conventional macroeconomics does not incorporate a capital structure or a time element in any fundamental way has telling consequences in terms of possible directions for development of macroeconomic theory and provides a basis for identifying and evaluating different schools of macroeconomic thought. If the economy's capital structure is not an integral part of the theoretical construction, then the market mechanisms that create and maintain that structure can be treated only in some summary or fragmentary fashion. A casual survey of macroeconomic literature suggests that there are two summary techniques and many of the fragmentary variety. The greatest contrast is exhibited between theories that assume these market mechanisms work perfectly well (and hence need not be analyzed) and theories that assume these markets mechanisms are totally dysfunctional (and hence cannot be analyzed). Representatives of the works-perfectly-well theories include much of Monetarism and most of New Classicism; representatives of the totally-dysfunctional theories include Fundamentalist Keynesianism as rooted in Keynes's 1937 restatement of his General Theory as well as Austro-Keynesian Nihilism as exposited from the Keynesian side by G. L. S. Shackle [1974] and from the Austrian side by Ludwig M. Lachmann [1986].(2)
Theorists who do not incorporate a capital structure in their macroeconomics but reject either of the two extreme assumptions about the efficacy of the market mechanisms that create and maintain that structure are left to pick and choose in ad hoc fashion among many aspects of the market process some aspect of it that is thought to be particularly significant and worthy of attention. For Keynesianism as set out by income-expenditure analysis, expectations, explained largely by group psychology, dominate in the determination of the level of investment; the interest rate, governed largely by changes in liquidity preferences, plays a subordinate role in investment decisions, as reflected in an interest-inelastic demand for investment funds. For Post Keynesians, mark-up pricing made possible by oligopolistic elements in the economy satisfy the needs of the capitalist class for internal finance and enable investments to be undertaken. For New Keynesians, contracting costs for labor, which result in wage and price stickiness and in the staggering of wage-rate adjustments, weigh heavily in translating parametric changes into changes in the levels of employment and investment.
To single out aspects of the market process not explicitly related to the time element in the economy's capital structure is to overlook the intertemporally complex relationship between successive periods of investment and the resulting pattern of output. In theories with atemporal explanations of the level of investment in each period, the capital stock can be nothing other than a simple sum of the separate investment magnitudes. There is one notable theoretical development within New Classicism, however, that centers around an aspect of the market process explicitly related to the critical time element. Investment in each period consists partly of new investment and partly of continued investment, which reflects earlier�and possibly regrettable�investment decisions plus what is called time-to-build considerations [Kydland and Prescott, 1982]. Although the distinction between new and continued investment in the context of a theoretical construction which otherwise has no structure of capital is an ad hoc distinction, it is nonetheless one that is rooted�or, at least, could be rooted�in the most fundamental insights linking capital and time.(3)
III. Adjectival Time
How many different kinds of capital are there in a capital-using economy? Surely, there are many, although most of macroeconomics pretends that there is only one. The stock of it grows monolithically as each year's investments are added to it. How many kinds of time are there in a capital-using economy? Surely, there is only one kind of time, which underlies all macroeconomics, all economics, all social science, all science, and all reality as we know it. Nonetheless, a casual survey of modern macroeconomic literature reveals a proliferating taxonomy of time. There is calendar time, mechanical time, analytical time, Newtonian time, Bergsonian time, real time, historical time, expectational time; there are market processes that are "in time" and market processes that are "out of time."
The length of the list of adjectives that have been appended to time is in part a reflection of variation in writing style and lack of standardization of terminology. Admittedly, several contrasting pairs can been gleaned from the list to express the same�or very similar�meaning. But for macroeconomists who think in terms of the economy's capital structure but read a macroeconomics literature free of such considerations, adjectival time takes on a special meaning. The taxonomy of time is a surrogate, however cryptic and otherwise inadequate, for a taxonomy of capital; it sheds only the most indirect light on the market processes that maintain and modify the economy's intertemporal capital structure.
There are two analytically separable�though actually interrelated�sets of issues for which kinds of time are proxies for other, more substantive aspects of a capital-using economy. One set of issues, which turns on the distinction between historical and analytical time, has to do with the nature of the economy's capital structure; the other set of issues, which makes use of expectational time, has to do with entrepreneurial decisions that lead to the maintenance or modification of the capital structure.
Historical time, which is characterized by an essential irreversibility, is commonly contrasted to analytical time, which, purportedly, can run both directions. Movements in analytical time are analogous to movements in space. In analytical time, eggs can be cracked and then un-cracked; volcanoes can erupt and then un-erupt; investment projects can be commenced and then un-commenced. In historical time there are at least some things�cracked eggs, erupted volcanoes, and committed capital among them�that cannot be undone. While the notion of time running both directions, even as a thought experiment, will not survive critical contemplation (How about all six directions? At the same time?), the issues addressed can be given more direct�and therefore less cryptic�expression by considering the nature of the economy's intertemporal capital structure.
Capital goods that make up the structure differ in terms of durability and specificity. Relationships among the heterogeneous collection of capital goods vary in degrees of both atemporal and intertemporal substitutability and complementarity. If capital goods were wholly non-specific, if the collection of them were fully homogeneous such that any one capital good is a perfect substitute for any other, then production processes could proceed as if time ran both ways. A half-finished performance hall could be completed�with no effects on cost or construction time�as a bowling alley; the production process that yields musical instruments could�with an eleventh-hour change of mind�yield bowling pins and bowling balls instead. It would be as if the construction of a performance hall and the making of musical instruments, once commenced, were then un-commenced so as to facilitate the construction of a bowling alley and the production of bowling equipment. The total production time, due attention to the algebraic sign of component elements of time, would be no greater than if bowling had given shape to the production process from the start.
Treatments of macroeconomic issues in which historical time is played-off against analytical time is capital-based macroeconomics in sillouette. To feature time irreversibility is to recognize that the intertemporal capital structure has a particular profile. But the black-and-white distinction between historical and analytical time is too crude and too cryptic to shed any light on the actual complexity of the capital structure and on the causes and consequences of capital maintenance and capital restructuring.(4)
Expectational time is a phrase that refers to a time horizon rather than to the actual passage of time in one direction or another. For what period of time do investors plan? The formation of expectations and the commitment to investment undertakings has a critical time dimension in macroeconomics. But the acts of forming expectations and making commitments are largely unanchored in mainstream macroeconomic theory; they are lacking in terms of both subject and direct object. The subject of such acts is the entrepreneur, who has a shadowy existence in most all of mainstream economics, in microeconomics as well as macroeconomics. The proximate objects of such acts are the components of the capital structure, the contemplated additions to it or modifications of it evaluated in the light of the capital structure as it is currently perceived to exist.
The attempt to finesse a theory of entrepreneurship in the context of a complex intertemporal capital structure by incorporating expectational time into macroeconomics has had but little success. Polar contrasts can be made [as in Keynes, 1964, ch. 5] between short-run expectations, which are formed and reformed continuously and confidently on the basis of timely and relevant feedback, and long-run expectations, which are totally baseless acts of imagination. And plausible claims can be made about changes in planning horizons attributable, say, to a change in the rate of technological progress or to increasing or decreasing stability of a policy regime. But identifying the macroeconomic significance of changing expectations that cause investment activity to turn from maintenance of a given capital structure to structural modification requires more than considerations of expectational time can deliver. Explicit consideration must be given to the capital structure itself and to the entrepreneurs who form expectation on the basis of their perception of it.
IV. Does It Matter that Expectations Are Subjective?
Reflective writings on economic theory acknowledge the essential subjective character of its fundamental concepts. Consumption utilities, even costs, and certainly entrepreneurial expectations are subjective in ways that few economists would dispute. For issues of basic methodology and philosophy of science, subjectivist considerations are given great weight. And in modern macroeconomics, schools of thought can be categorized on the basis of whether or not�and to what extent�they give play to the subjectivity of expectations.
The polar extremes identified earlier, Keynesian Fundamentalism and New Classicism, can serve to illustrate. In the first extreme, critical questions about the state of long-term expectations, about the profitability of investment activities, guide discussion about the future of the macroeconomy, but answering such questions with Keynes's oft-quoted punchline that "We simply don't know" cuts discussion short. In the second extreme, it is postulated that entrepreneurs, if not economists, do know or that they behave, collectively, as if they do. With the assumption of rational expectations, the distinction between the past and the future and the essential subjectivity of entrepreneurial expectations is downplayed if not completely eliminated.
Identifying the limits of macroeconomics requires that we reject both polar extremes. Rather than make some assumption that either features or hides the subjectivity of expectations, we must seek a substantive answer to the question: "Does it matter that expectations are subjective?" Considerations of the nature of entrepreneurial activities in the context of a complex intertemporal capital structure suggest a hedged answer: Sometimes it doesn't, and sometimes it does. In the most general terms, our specific answer depends upon whether the intertemporal structure of capital is simply being maintained or is undergoing systematic modifications in the face of some economywide change in market conditions.
Karen Vaughn [1980] has offered and defended a substantive answer to the similar and possibly more fundamental question: "Does it matter that costs are subjective?" As a preliminary to policy prescription, this question about costs in the economically relevant sense of the subjective valuation of foregone opportunities becomes: Do observable market prices accurately reflect inherently unobservable costs? Vaughn argues that they do but only under conditions of full equilibrium. She then juxtaposes this conclusion with the more common belief that situations in which markets, for some reason or other, are not equilibrating are precisely the ones where policy intervention finds its greatest justification [Ibid. pp. 710f].
Costs, the consideration of which underlie policy prescription, can be objectively measured only when there is no need for policy. This is the essence of the conundrum identified by Vaughn. A similar conundrum, conceived possibly as a corollary to the subjective-cost conundrum, identifies the limits of macroeconomics in terms of subjective expectations. Entrepreneurial expectations about the future can be surmised from entrepreneurial activity of the immediate past only in the instance in which entrepreneurs are pressing ahead to complete the projects that they have already initiated. Such a situation might occur if, under unchanged market conditions, market forces have been working and continue to work to maintain an intertemporal equilibrium. That is, only when entrepreneurial expectations about the future can be accurately represented as a projection of recent and ongoing entrepreneurial activity does the essential subjectivity of expectations not matter. Thus, the macroeconomic theorist can be confident that considerations of subjective expectations pose no difficulty for his theory only in circumstances in which there is no need for macroeconomic policy.
In circumstances of systematic intertemporal discoordination, however, considerations of expectations must dominate macroeconomic theorizing. Suppose that near the end of a period of economic expansion, it becomes clear to entrepreneurs�and even to economists�that market conditions favorable to continued expansion are unlikely to prevail. For the argument at hand, it does not much matter whether the economy is in the final throes of a demand-driven boom or on the eve of some dramatic but only vaguely anticipated change in supply conditions. In either case, macroeconomic theory has to deal with the fact that entrepreneurs are no longer pressing ahead but are instead adapting to change. And the adaptations that entrepreneurs will be making are guided by their expectations about the new market conditions and about how other entrepreneurs are likely to adapt.(5)
In a period of macroeconomic disequilibrium, when actions in the future are not simple extrapolations of actions in the recent past, all the thorny issues of capital theory come into play. What is the best thing to do with a half-completed performance hall in light of the changing market condition? Some such projects will be completed almost as initially planned; others will be completely liquidated. Some will be modified in various degrees in terms of the resources and techniques used; others will altered to some small or great extent in terms of the ultimate objective. Considerations of capital specificity and durability and of atemporal and intertemporal substitutability and complementarity among capital goods and between capital goods and other resources, as perceived subjectively by each entrepreneur, all come into play.
What has been offered here as a subjective-expectations corollary to Vaughn's subjective-costs conundrum can itself be expressed in terms of subjective costs. Under conditions of full competitive equilibrium, costs at the margin are adequately measured by observable market magnitudes. The entrepreneur borrows funds at the market rate of interest and undertakes projects that are just worth while. What is popularly called the "cost of capital" refers both the the rate of interest and the rate of return for the entrepreneurs whose activities maintain the marginal conditions. But it is precisely these marginal relationships that are nullified by an economywide disturbance. Macroeconomic disequilibrium drives a wedge between the rate of interest and the newly formed expectations about the rate of return on projects that were initiated before the disequilibrating disturbance. When capital maintenance turns to capital restructuring, the activities of entrepreneurs can no longer be explained in terms of marginal conditions and observable interest rates: It's a poor entrepreneur whose next best alternative is the bank rate of interest.(6)
Macroeconomic theory that translates changes in market conditions into movements in macroeconomic variables must hinge critically on the actual and perceived relationships that characterize the economy's intertemporal capital structure. In macroeconomic disequilibrium, the fact that entrepreneurial expectations are subjective matters greatly. The theory, in fact, is no better than its treatment of expectations. Thus, in the very circumstance of some economywide disturbance, in which the perceived need for stabilization policy is the greatest, the theory on which such policy is based is the most tenuous.
Further, policymakers, by implementing policy either on the false premise that the subjectivity of expectation does not matter or with the realization that they do�somehow�matter, have the effect of making the theory even more tenuous. This compounding effect involving the interplay between theory and policy will be recognized as central to the Lucas critique and to Newcomb's decision problem as applied to policy activism. The conundrum highlighted here, however, is independent of and logically prior to those identified by Lucas and Newcomb.(7)
V. Demand-Siders, Supply-Siders, Both and Neither
Attention to the economy's intertemporal capital structure virtually precludes dealing with macroeconomic problems and formulating macroeconomic policy in terms of aggregates that summarily relate the demand side of the economy to the supply side. Intertemporal discoordintion upsets supply and demand relationships within the capital structure, such that the time-consuming process that transforms the economy's basic resources into products that satisfy consumer demand is characterized by a complex pattern of excess supplies and excess demands. The problem of identifying and dealing with the specific and interrelated excesses is, in the final analysis, an entrepreneurial problem. The solution to the problem requires some systematic tendency for entrepreneurial expectations to be correct and hence requires institutional arrangements that automatically reward correct expectations.
Macroeconomic debate over the last several decades has been dominated by Keynesian policy activists, who advocate demand-management policies, and their Monetarist critics; and by Supply-siders, who have attempted to shift the focus of policy from the demand side of the economy to the supply side. Each side of the market has served as the basis for effective political rhetoric, as exemplified by the demand-oriented Democratic administrations of the 1960s and the supply-oriented Republican administration of the 1980s. Pointing to periods during which such one-sided policies for managing the macroeconomy were actually pursued effectively or even consistently is, of course, another matter.
Adding capital theory to macroeconomics as the most direct and explicit way of accommodating the critical time element in economic relationships warns against exclusive focus on either side of the market. Considerations of expectations and the critical role of the entrepreneur suggest that there may be an unbridgeable gap between macroeconomic theory and activist policy. The conundrums inherent in capital-based macroeconomics imply a balance in terms of sides of the market and a contrast between theory and policy: On analytical issues, macroeconomists should think of themselves as Both Siders; on policy issues, as Neither Siders. Macroeconomic theory can shed light on the the nature of the problems that entrepreneurs face in conditions of economywide disequilibrium; policy activism can do little to help solve what in essence is an entrepreneurial problem.
Spelling out the limits of macroeconomics in terms of capital structure and entrepreneurial expectations is not intended to imply that macroeconomics should be abandoned entirely in favor of microeconomics. Here too the intended implications turn on the distinction between theory and policy. For policy, clearer recognition of the limits of macroeconomics strengthens the case for rules over discretion. It argues for the abandonment of policy activism in favor of institutional reform. If policy activism is unlikely to get the economy out of macroeconomic difficulties, institutional reform that, among other things, eliminates the threat of policy activism may well keep the economy from getting into macroeconomic difficulties.
For theory, the explicit detailing of the limits of macroeconomics points to possible margins where theory might be improved. More pointedly, translating macroeconomic ideas expressed in the language of adjectival time into the macroeconomics of capital structure may have an especially high payoff. And paying attention to the particular kinds of problems that entrepreneurs face during periods of economywide capital restructuring may provide the soundest basis for the reform of the economy's macroeconomic institutions.
Böhm-Bawerk, Eugen. Capital and Interest. 3 vols. [originally published in German in 1984, 1989, and 1909], South Holland, IL: Libertarian Press, 1959.
Cassel, Gustav. The Nature and Necessity of Interest. London:Macmillan and Co., Ltd., 1903.
Clark, John B. The Distribution of Wealth. New York: Macmillan, 1924.
Dow, Sheila C. Macroeconomic Thought: A Methodological Approach. Oxford: Basil Blackwell, Ltd., 1985.
Frydman, Roman, Gerald P. O'Driscoll, Jr. and Andrew Shotter, "Rational Expectations of Government Policy: An Application of Newcomb's Problem," Southern Economic Journal, vol. 49, no. 2 (October), 1982, pp. 311-19.
Garrison, Roger W., "Time and Money: the Universals of Economic Theorizing," Journal of Macroeconomics, vol. 6, no. 2 (Spring) 1984, pp. 197-213.
________. "Professor Rothbard and the Theory of Interest," in Walter Block and Llewellyn H. Rockwell, Jr., eds. Man, Economy, and Liberty: Essays in Honor of Murray N. Rothbard. Auburn, AL Ludwig von Mises Institute, 1988, pp. 44-55.
________. "The Austrian Theory of the Business Cycle in the Light of Modern Macroeconomics," Review of Austrian Economics, vol 3, 1989, pp. 3-29.
Jevons, William Stanley. The Theory of Political Economy. Middlesex: Pinguin Books, Ltd., [1871] 1970.
Keynes, John Maynard, "The General Theory of Employment," Quarterly Journal of Economics, vol. 51, 1937, pp. 209-23.
________. The General Theory of Employment, Interest, and Money. New York: Harcourt, Brace and World, inc., [1936] 1964.
Knight, Frank H., "Capital, Time, and the Interest Rate," Economica. ns 2 (August) 1934, pp. 257-86.
Kydland, Finn E. and Prescott, Edward C., "Time to Build and Aggregate Fluctuations," Econometrica vol. 50 no. 6, (November) 1982, pp. 1345-70.
Lucas, Robert E. Jr., "Econometric Policy Evaluation: A Critique," in Lucas, ed. Studies in Business Cycle Theory. Cambridge, MA: MIT Press, 1981, pp. 104-30.
Lachmann, Ludwig M., "From Mises to Shackle: An Essay on Austrian Economics and the Kaleidic Society," Journal of Economic Literature, March 1976, vol. 14, no. 1, pp. 54-62.
________. Ludwig M. Capital and Its Structure. Kansas City: Sheed, Andrews and McMeel, Inc., [1956] 1978.
Phelps, Edmund S. Seven Schools of Macroeconomic Thought. Oxford, Clarendon Press, 1990.
Robinson, Joan, "Production Theory and the Theory of Capital" [1953], in G. C. Harcourt and N. F. Laing, eds. Capital and Growth. Middlesex: Pinguin Books, Ltd., 1971, pp. 47-64.
Samuelson, Paul A., "A Summing Up," [1966], in G. C. Harcourt and N. F. Laing, eds. Capital and Growth. Middlesex: Pinguin Books, Ltd., 1971, pp. 233-50.
Shackle, G. L, S. Keynesian Kaleidics. Edinburgh: Edinburgh University Press, 1974.
Sraffa, Piero. The Production of Commodities by Means of Commodities. Cambridge: Cambridge University Press, 1960.
Vaughn, Karen I., "Does It Matter That Costs Are Subjective?" Southern Economic Journal, vol. 46, no. 3 (January), 1980, pp. 702-15.
1. An application of dimensional analysis to the issue of the interest rate as a price is provided by Garrison, 1988, pp. 49-51.
2. For an extended capital-based contrast of Keynesianism and Monetarism and a treatment of the Austrian alternative as a middle-ground position, see Garrison [1984] and Garrison [1989].
3. In view of their own critique of mainstream macroeconomics, the New Classicists will not take lightly the charge of ad hocness. But distinguishing between "new" and "continuing" investments has no theoretical basis in New Classicism. Without a theory of capital structure, the distinction can only mean new or continued involvement of a particular firm. But for macroeconomic relevance, the distinction must apply to the economy's capital structure. The firm-based distinction and the structure-based distinction would be equivalent only if all production processes were characterized by complete vertical integration.
5. In application, the distinction between "pressing ahead" and "adapting to change" parallels the distinction between maintenance and restructuring as spelled out in footnote 3. Also, it should be noted that Vaughn's subjective-cost conundrum turns on the distinction between full equilibrium, which exists only in the textbooks, and disequilibrium, which characterizes market processes as we know them. My subjective-expectations corollary turns on the distinction between actual market processes as they function under normal conditions and those same market processes as they function in the face of some economywide disturbance.
6. A key difference between growth theory and macroeconomic theory can be stated in terms of the interest rate's serviceability as a measure of the relevant opportunity cost. The centrality of the interest rate in growth theories, which typically concern themselves with the economy's equilibrium growth path, is not in doubt; the significance of the interest rate in macroeconomics, which typically deals with circumstances in which marginal conditions have been upset on an economywide basis, e.g. by a collapsing demand-driven boom or by a supply shock, is a matter of some controversy.
7. The Lucas critique [1981] is based on the market participants' ability to anticipate policy; Newcomb's decision problem, as applied by Frydman et al. [1982], arises when market participants and policymakers try to anticipate one another.


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text:
Consumer price indices (CPIs)
OECD statistics contact: stat.contact@oecd.org
http://www.oecd.org/sdd
Unit of measure used
STD - Financial Indicators (MEI)
Statistical population
The 'Consumer Price Indices (CPIs)' contains all data that was previously contained in three different datasets: 'Consumer Prices', 'National Consumer Price Indices (CPIs) by COICOP divisions' and 'Harmonised Indices of Consumer Prices (HICPs) by COICOP divisions'. For detailed information on the reorganisation of the CPIs data publication on OECD.Stat, please see: Reorganisation and contents of CPI datasets
The 'Consumer Price Indices (CPIs)' dataset contains predominantly monthly statistics, and associated statistical methodological information, for the 36 OECD member countries and for some non-member countries.
The 'Consumer Price Indices (CPIs)' dataset contains statistics on Consumer Price Indices including national CPIs, Harmonised Indices of Consumer Prices (HICPs) and their associated weights and contributions to national annual inflation. The data series presented have been chosen as the most relevant prices statistics for which comparable data across countries is available. In all cases, a lot of effort has been made to ensure that the data are internationally comparable across all countries presented and that all the subjects have good historical time-series' data to aid with analysis. Data are available monthly for all the countries except for Australia and New Zealand (quarterly data).
National CPIs are available at the most aggregate level: CPI All Items (COICOP 01-12) with a breakdown in 12 COICOP Divisions and some additional aggregates. Data are available at a monthly frequency for all countries except for Australia and New Zealand for which they are available at a quarterly frequency.
The annual expenditure weights are also available for the 12 COICOP Divisions (except Australia). Weights are defined as the proportion of total household expenditure spent on a given product during the weight reference period. The weights reported under year 'y-1' are those used for the computation of CPIs in year 'y' (e.g. the weights reported for the year 2014 are those used for the computation of CPIs in 2015).
The contributions to annual inflation are also available for the 12 COICOP Divisions (except Australia). They show how much each of the COICOP Divisions contributes to the annual inflation. All data are calculated by the OECD following the Ribe formula. However, data for Austria, Chile, Finland, Mexico, the Netherlands, Poland, Sweden, United-Kingdom are directly calculated by the National Statistical Offices. For further information, please see: OECD calculation of contributions to overall annual inflation
Indicators have been prepared by national statistical agencies primarily to meet the requirements of users within their own country. In most instances, the indicators are compiled in accordance with international statistical guidelines and recommendations. However, national practices may depart from these guidelines, and these departures may impact on comparability between countries; in such cases the deviations from practices are described in metadata for the relevant country and subject coordinates. There is an on-going process to review and improve the contents of the database in order to maximise the relevance of the database for short-term economic analysis, for example, through the inclusion of new indicators reflecting new areas of analysis and policy making.
Consumer price indices (CPIs)Unit of measure used

redpajama_set_name: RedPajamaCommonCrawl


Display Cabinet : Kitchen Pantry Sliding Drawers Sliding Shelf Mechanism Sliding Pantry Pull Out Drawers For Kitchen Base Cabinets Wire Pull Out Shelves Kitchen. Enticing Pull Out Shelf Slides. Slide Out Pantry. Kitchen Shelves. Pull Out Cabinet.
By Bi5MiLl4hRunamuckfestival. Display Cabinet. At Monday, March 04th 2019, 01:24:59 AM.
79 out of 100. Rated by 437 users.


Born on October 1, 1959 .
This memorial website was created in memory of our loved one, Kamar Opeifa 51 years old , born on October 1, 1959 and passed away on September 8, 2011. We will remember him forever.
Happy birthday Pastor Kamar, continue to Rest In Peace.
Keep on resting in perfect peace dear pastor.
Seven years already? What a Year of Jubilee! You will forever be missed, Brother . . .
seven years already! I missed you so much bro Kamar, I consider myself lucky to have known someone like you... continue to Rest In Peace my pastor, my brother, my friend and my confidant.
Continue to Rest In Peace Pastor!!!
Bugee - You are always on my mind. I miss everything about you. You are irreplaceable. Miss you so much. I pray that Heavenly Father continues to shower you with peace and tranquility.
Six years already! Really? Wow, seems like just six hours ago. . . Time, like an ever rolling stream, Bears all its sons away; They fly, forgotten, as a dream Dies at the opening day. O God, our help in ages past, Our hope for years to come, Be Thou our guard while troubles last, And our eternal home. Good night, brother. You fought a good fight indeed and you are forever loved!
Keep on resting in perfect peace.
Four years? So soon? Wow, you will be forever missed in our hearts, Brother Kamar!
KAMAR IS JUST LIKE YESTERDAY.MAY YOUR SOUL REST IN PEACE.
Egbon, another year has gone bye but your sweet memory still lingers forever. Rest in perfection Amen. .
Pastor, you are forever in our hearts. Your passion and affection for the God and mankind was remarkable. True a God chosen servant. Rest peacefully with the Lord almighty.
Rest in perfect peace dear Pastor Kamar Opeifa, we really missed you.
One year ago since you left this sinful world, it looks like yesterday when death snatched you from us. May your soul keep on resting in perfect peace. We love you our dear pastor. Once again keep on rest in perfect peace.
I am still in denial, but the reality that you are really gone is finally trickling in (but slowly), however your divine ministrations kept ringing in my ears through my transformational (Salvational) moments, thereby creating a disillusion of your presence. I know you are there having a conversation with my Jehovah El-Shaddai, and probably laughing at me and saying that "Damola De Niyen".
My main man. A divinely selected one-man army that dares anyone but The Jehovah. Time-conscious, Straight-forward, almost unstoppable and very unpolitical when it comes to Gods work. Sometimes I ponder, if you were really made for this dirty mundane world in the first instance. And when I drift in this thought pattern, I get relieved that maybe your kind need to be with the real saints.
My friend, brother, and fellow laborer in our Father's Vineyard: Words cannot express the void you left in our lives and ministries on this side of the Great Divide. But to God be the glory because you are now resting in Abraham's Bosom - having taken your own place of honor in the banquet of paradise. Indeed, you fought a good fight. Keep resting, brother, now that you are free!
The remembrance of the righteous is for a blessing & you are truly missed by those you left behind. Continue to rest peacefully in the bosom of our Lord.
Life is a Rose of seasons ( Ecclesiastics 3:11). My pastor Karma merely followed that natural order of events. A time to be born and a time to transit. The infirmity that harassed and tookyou its rude shock. you were a good mentor for me and my husband. we eulogies your good and exemplary life, and relish as we cherish and treasure your sweet memories. Franca & Val, GA.
''The first time I met my uncle I was so proud to have such an awesome sibling may he watch over us in peace he will be greatly missed.''.
Boggie, you are one person that understands the behaviour of all your sibblings and you dealt with us based on individual attitude and that is why your entired 21 brothers and sisters will always miss you.
Again words cannot fully express my shock. I had always hoped of reconnecting again with Denrele (as we use to call him at VHS)after over 35 years of separation from Secondary school. It was so easy to like Denrele ever jovial, accommodating and easy going. We all miss you.
7 oct 2011.God be with you.We thank GOd for your life that you are born again.We love you but God loves more than us.Pastor Kamor Opeifa rest in perfect peace.
I pen this with a very heavy heart. I hope you all feel how I am feeling. I have a lot to say...but I really don't know where I should start from... we spent a lot of time through phone and coming over to Chicago; just to come and see the children..memories of him just keep CONT.
flashing back. Tear flows...I called him brother Kamar just because of the bond we shared together. He was a loving, caring, generous family man, a loving pastor. Bro. Kamar was much more to me than just a brother in law; he was my mentor. CONT.
He has finally been released from the prison that his body had become. Let's take comfort that he is now with our Lord. Sun re o.
I can't believe it that Pastor is not with us again. You really touch my family and entire Milwaukee city. Death did not allow you to celebrate your 52nd birthday with us, we love you but God loves you more than us. Rest until we meet on ressurection day.God bless your soul.
Pastor ! You touched so many lifes . My family and i were blessed to be one of them . We all loved you but God loved you most . Rest in peace .Your good work and examplary life is a testimony of your footsteps on Earth . We miss you ! ! !


Simon Morris and Tom West will be attending Ignition 2013 in New York from 11th to 13th November and will be part of a trade delegation organised by UKTI representing the UK digital industry.
Ignition is held once each year, and looks at the future Of Digital. The event brings together 700 senior executives from the worlds of technology, media, entertainment, investing, finance, and the Internet to explore the emerging trends of digital media.


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Lypertek Levi True Wireless Earphones Review
Is this the best-sounding pair of true wireless earphones under Rs. 5,000?
By Ali Pardiwala | Updated: 7 January 2021 14:26 IST
The Lypertek Levi supports the AAC and SBC Bluetooth codecs
The Lypertek Levi is priced at Rs. 4,999, a fair bit less than the Tevi
The earphones use 6mm dynamic drivers
Controls are through side-mounted buttons, which are quite convenient
While big-name brands such as Apple, Sony, and Samsung have a strong hold on the premium true wireless segment, the affordable and mid-range segments see a lot of action from small boutique brands. One such specialist audio manufacturer is Lypertek, and its first true wireless headset, the Lypertek Tevi, is among our top picks for true wireless earphones priced at under Rs. 10,000. However, at Rs. 6,999, the Lypertek Tevi sits just a bit higher than the Rs. 5,000 mark, which remains a significant cost barrier for price-sensitive buyers.
The company's latest true wireless headset should appeal to those very buyers, who might find the Tevi a bit too expensive. Priced at Rs. 4,999, the Lypertek Levi promises to be a budget-friendly true wireless headset with the same fundamental approach to listening as the Tevi. Find out if the Lypertek Levi is the best-sounding pair of true wireless earphones you can buy for less than Rs. 5,000, in our review.
The Lypertek Levi goes up against competition from brands such as Oppo and Realme in the budget true wireless segment
Impressive specifications for the price on the Lypertek Levi
Refreshingly for the price segment, the Lypertek Levi is a rather uncomplicated pair of true wireless earphones. The earpieces are unashamedly plastic with a dull, slightly textured finish, and have a proper in-canal fit. They look good and feel well-built, but are quite simple and lacking in complicated features. There are no sensors, and controls are through physical buttons.
Lypertek Tevi True Wireless Earphones Review
There are lights on the outward-facing surfaces to indicate the status of the earpieces, and interestingly, there's a physical button on the side of each one. I found this quite convenient, since pressing them didn't upset the fit of the earpieces; I'd push the button with my index finger while using my thumb for grip on the opposite side.
A single press on either side plays or pauses music or answered calls; a double-press skips to the previous (left) or next (right) track, or summons the default voice assistant on your paired smartphone when audio is paused; a triple-press on either side turns on or off the ambient sound mode; and a long-press on the two sides will raise or lower the volume. These controls cover all functions. In my experience, they were intuitive and easy, and always worked properly.
Six pairs of silicone ear tips are included in the box, including three double-flanged options in different sizes. I personally preferred the fit and sound with the regular medium-sized ear tips. Also included is a short charging cable. The case can be charged both wirelessly and through its USB Type-C port. Although the latter is now common in the budget segment, wireless charging is an interesting addition that is still rare under Rs. 5,000.
Oppo Enco W51 True Wireless Earphones Review
The charging case can be charged wirelessly, apart from regular USB Type-C charging
The case has a similar texture to the earpieces, with the USB Type-C port at the bottom, four LEDs to indicate its battery level, and a magnetic lid. I strangely heard a high-pitched electronic squeal every time the earpieces were inside and charging, but this didn't seem to affect functionality in any way.
Best True Wireless Earphones You Can Buy [January 2021]
Unlike the Tevi which has support for the Qualcomm aptX Bluetooth codec, the Lypertek Levi supports only the SBC and AAC Bluetooth codecs. The earphones use Bluetooth 5 for connectivity, and have 6mm dynamic drivers, a frequency response range of 20-20,000Hz, and IPX5 water resistance. Battery life is claimed to be 8 hours on the earpieces with an additional four full charges from the case, and the Lypertek Levi came close to these figures in my testing.
Natural sonic signature, enjoyable sound on the Lypertek Levi
As a more affordable sibling of the Tevi, the Lypertek Levi has a lot of expectations pegged to it, including matching up to the ethos and philosophies behind the design of the more expensive headset, while keeping the price down. Impressively, Lypertek has pulled this off in style; the Levi is not quite the Tevi, but it's got enough of that spirit and soul in it for the price, even when it comes to sound.
A big reason for why the Tevi is so good is its support for the Qualcomm aptX Bluetooth codec, which the Levi unfortunately doesn't have. For this reason, the Levi doesn't quite go the distance when it comes to good high-resolution music, but it makes up for this with good drivers as well as tuning that gets it right with regular compressed and streaming audio. It's silly to expect too much from a Rs. 5,000 true wireless headset, but the Lypertek Levi still gives you more bang for your buck than the competition when it comes to sound quality.
The Best Wireless Bluetooth Headphones Under Rs. 5,000 [January 2021]
Listening to Let's Elope by Koop on Tidal Masters, the sound immediately came across as natural and balanced, but never skewed towards any particular segment of the frequency range. Whether I was paying closer attention to the deep orchestral lows, crisp vocals, or bright highs of certain instruments, everything had its firm place in the sound. As a result, the soundstage on the Lypertek Levi felt luxurious and wide, and the sonic signature was refreshingly different from those of any other earphones I've heard priced under Rs. 5,000.
The buttons on the sides of the earpieces are quite convenient, and didn't upset the fit when used
Even with other genres, including popular and bass-driven tracks such as So Am I by Ty Dolla $ign, the sound was impressive when it came to detail and feel, while retaining the core characteristics of the track. The dubstep-style low-end rumble in this reggae fusion track was refined and calculated on the Lypertek Levi, while the balanced nature of the sound made for oodles of detail that had been hard to pinpoint with other affordable headsets such as the Oppo Enco W51 or Realme Buds Air Pro.
Wired vs Wireless Headphones: Why the Choice Isn't Simple
Switching to Spotify and my current favourite track for testing headphones and earphones, Truth by Kamasi Washington, I noticed that although the sound was missing just a hint of the edge that high-resolution audio would have brought, it was still nearly as good. This is obviously due to the shortcomings of the AAC codec, but despite this the sound was still nearly as detailed and immersive as before. Faint details in the cymbals, the grunt of the lows, and the natural feel of the church choir-like vocals were all delivered capably by the Lypertek Levi.
More energetic tracks, such as Kanye West's All Of The Lights, were decent on the Lypertek Levi, but this is where some of the limitations of these earphones showed. The wide soundstage and faint details were present, but this loud, busy track sometimes got away from the Levi, sounding a bit rough and jumbled up on occasion. On the other hand, progressive tracks with a slightly more laid-back approach, such as My Mind's Made Up by Kraak & Smaak, didn't face the same problem, suggesting that it takes a special kind of track to make the Levi flinch in normal circumstances.
The Lypertek Levi is in its comfort zone with music and performed reasonably for me for audio on videos, but the same can't be said of voice calls. Although I could hear clearly when my smartphone was getting good reception, the microphones aren't particularly good, and I often had trouble being heard on calls. The Levi is best used for music and the occasional voice call; you'll want something with better microphones if you intend to take a lot of calls.
Eight Mind Blowing Headphones That Redefine the Word 'Flagship'
Battery life is impressive on the Lypertek Levi, with up to eight hours of listening on the earpieces.
Lypertek burst onto the scene in a big way with the Tevi not too long ago, and hasn't disappointed with its second offering either. The Lypertek Levi is pretty much exactly what you'd expect; it's an affordable true wireless headset that delivers on what it promises: good sound. With its natural, refreshingly different sonic signature, this is the best-sounding pair of true wireless earphones you can buy for less than Rs. 5,000. Excellent battery life, wireless charging, and convenient controls sweeten the deal.
That said, I did encounter some quirks such as the high-pitched electronic squealing from the charging case, an inability to keep pace with the busiest of tracks, and poor microphone performance. This is a very good pair of true wireless earphones for the price, but it's definitely still a budget headset.
Realme Buds Air Pro Review
The Lypertek Levi is definitely worth considering if music will be your primary use case. If you're looking for something a bit more feature-filled that would work better as an all-rounder, options such as the Oppo Enco W51 and Realme Buds Air Pro which feature active noise cancellation are worth considering. Of course, if you can bump up your budget a bit, the Lypertek Tevi remains our top pick for under Rs. 10,000.
Which are the best truly wireless earphones under Rs. 10,000? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.
Lypertek Levi True Wireless Stereo (TWS) Earphones
Design / Comfort
Convenient controls
Excellent battery life
Natural, detailed, enjoyable sound
Poor microphone performance
Can't keep pace with the busiest of tracks
Read detailed Lypertek Levi True Wireless Stereo (TWS) Earphones review
Headphone Type In-Ear
Connectivity True Wireless Stereo (TWS)
Type Earphones
Lypertek Levi True Wireless Earphones With 6mm Dynamic Drivers, Up to 48-Hour Battery Launched in India
More Lypertek Headphones & Headset
Further reading: Lypertek, Lypertek Levi, Lypertek Levi Features, Lypertek Levi Price in India, Lypertek Levi Specifications, Lypertek Levi Review, True wireless earphones, TWS, Bluetooth, Earphones
Ali Pardiwala Email Ali
Ali Pardiwala writes about audio and video devices for Gadgets 360 out of Mumbai, and has covered the industry for a decade now. Ali is a Senior Reviewer for Gadgets 360, where he has regularly written about televisions, home entertainment, and mobile gaming as well. He is a firm believer in 4K and HDR on televisions, and believes that true wireless earphones are the future of the personal audio industry. Ali is available on Twitter as @AliusPardius and on email at alip@ndtv.com, so do send in ...More
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text:
How Venice High Opted In – And Became Los Angeles' Most-Improved High School
LA School Report
Venice High School made the biggest improvements in math and English language arts proficiency among Los Angeles Unified schools this year. Proficiency increased from 25 percent in ELA last year to 67 percent this year, and from 12 percent in math last year to 41 percent this year. However, "the real story behind the jump is participation," the article notes. In 2015, 80 percent of high school juniors opted out; this year, 80 percent participated. "The vast majority of parents understood the importance for the school, and also for the kids," says Oryla Wiedoeft, the school's principal, who made a push to inform parents about the value of high-quality assessments.


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Group Stage Roundup 3 & Second Round Preview (Franjo: A Journeyman Story – Euro 24 Part 10)
By Don Collins
< Euro 24 Part 9
My Short Stories WordPress
Where on Earth have you been?!
If you're reading this then you're in need of a catch up on an incredible round of action from Euro 2024 in which 12 matches were played, 48 goals were scored, 2 players netted hat tricks of penalties, 8 national teams made the long trip home (1 of whom failed to find the net in any of their 3 matches) and a further 10 joined the 6 already qualified nations in the Second Round, which begs the question: Just what have you been doing over the last few days that was so bloody important you could miss it?!
Never mind, I forgive you. My name's Don Collins. Let's read all about it.
Netherlands v Romania
The Dutch and the Romanians stepped onto the pitch of the Stadio San Nicola secure in their progression from the Group Stage, but also sure that at least one of them would lose their 100% record in the tournament so far in the proceeding 90 minutes. Neither side had even conceded a goal before kick off, which some claimed would make this a dull tie, devoid of action and stakes.
When Romania's Florin Tanase curled a free kick in off the bar after half an hour however, he opened the scoring in what became a hard fought, high scoring thriller of a match between 2 sides determined to top Group A. Striker Razvan Marin certainly played his part either side of half time, first felling Jorrit Hendrix in the box in first half injury time, conceding a penalty that Thomas Buitink slotted in and then regaining Romania the lead 20 seconds after the break when his volley deflected in off Virgil Van Dijk. The unflappable Dutch were level again within minutes though, with Vincent Janssen meeting a Jetro Willems cross and forcing a save from Ionut Radut before tapping in on the rebound. With 20 minutes to play the match could've gone either way, but Romania were the architects of their own downfall, startlingly giving away 2 more penalties within a 5 minute period. Thomas Buitink and Vincent Janssen were brought down by Dan Berci and Raul Negoita respectively and Buitink stepped up to complete a hat trick of spot kicks, putting the result and their status as Group A winners beyond doubt.
Netherlands: – 1st (Group A Winners)
Romania: – 2nd (Qualified for Second Round)
Russia v Northern Ireland
Both Russia and Northern Ireland knew that they'd need two things to progress from the Group Stage: 3 points and a metric tonne of luck. Even if either side won, they'd need two of the other 3rd placed teams in the other groups to have a worse or even points tally and a horrible goal difference.
The Russians dominated the match but were kept at bay for 70 minutes at the Stadio Della Vittoria by a Northern Ireland side that to their credit, has refused to give up throughout the Group Stage. Tragically for the tournament's underdogs though, Brendan Moore clattered Russian substitute Nikita Ovchinnikov in the box following a 71st minute corner and Alexey Gasilin finally gave the dominant side the lead from the spot, scoring his nation's first goal of Euro 2024. Russia made sure in the final knockings when Roman Zobnin slotted Andrey Makagonov through on goal and the substitute blasted in his first for his country, but the euphoria that sent the crowd into frenzy wouldn't last more than a few days. Their 3 points and goal difference of -2 would turn out to be level with another team in the tournament and while Northern Ireland suffer the humiliation of jetting off home from Bari Karol Wojtyła Airport without even scoring a goal, Russia were dealt the agonising blow of being eliminated on goals scored.
Russia: – 3rd (Eliminated)
Northern Ireland: – 4th (Eliminated)
FYR Macedonia v Ukraine
Macedonia and Ukraine had had very different starts to their Group B campaigns. The Macedonians were yet to score but had shipped goals, while the Ukrainians were yet to concede and had scored just enough to secure early qualification for the Second Round. Macedonia knew that a win by 3 goals would at least see them rise above Russia in the race to qualify from 3rd place, providing that the Czech Republic lost fairly heavily to Portugal. Like so many teams, they needed a miracle at the Juventus Stadium.
After the Netherlands and Russia scored a combined 4 penalties in the first 2 matches of the round, it was no surprise to see this match get underway with another: Ukraine's Alexey Ivanov was fouled by Stefan Andric just after the half hour and the Ukrainian right back and stand-in skipper Valeriy Luchkevych buried the resulting penalty in the top right corner. Macedonian heads dropped afterwards and the World seemed to write them off as an eliminated side, but then there was hope: Blagojce Filipovski found Martin Momirovski on the edge of the box, the striker picked his spot and squeezed a shot past Mykyta Schevchenko at his near post. It was quite possibly the biggest shock of the competition so far: The impenetrable Ukrainian defence had been broken by the toothless Macedonian attack. Game on. The neutrals watched on hoping that the second half of the match could contain the miracle that Macedonia were praying for, but sadly, it did not. Things very quickly went South when a second penalty was given away in the 54th minute, with Danila Babaev dragged to the floor by Macedonian substitute Saso Aliji. Luchkevych's second spot kick was a carbon copy of his first; An emphatic finish to the top right. Stefan Andric received his marching orders just minutes later, tripping Maxim Tankov and earning a second yellow, but thankfully the foul was outside the box so at least Macedonia hadn't conceded another penalty. Not for another 2 minutes, anyway. Before the hour mark, Filipovski seemed to lose his bloody mind and slid in off the ball on poor Babaev following a Ukrainian corner. The only miracle was that somehow Macedonia weren't reduced to 9 men and indeed that Filipovski wasn't even shown a yellow card, as the referee deemed a 3rd penalty punishment enough. One of the most unlikely hat tricks of the tournament was then completed when Ukraine's right back Luchkevych stepped up and buried the ball in the bottom left, in stark contrast to his first two spot kicks. The cherry was put on top of Ukraine's Group B clean sweep when Olexandr Zinchenko received the ball from Dmitry Petrenko 10 minutes from time and slotted it deftly into the bottom corner from the edge of the box.
Macedonia's only shot of the match and only goal of the tournament will be remembered fondly, unlike the rest of their Euro 24 experience, while Ukraine march on, seen by many now as a possible dark horse.
FYR Macedonia: – 4th (Eliminated)
Ukraine: – 1st (Group B Winners)
Portugal v Czech Republic
Portugal and the Czech Republic kicked off in Messena's Stadio San Filippo level on 3 points, a goal difference of 1 and 2 goals scored, knowing that although a loss might see them scrape through and a draw would probably do, a win would guarantee 2nd place in Group B and progression to the Second Round.
It's fair to say Portugal rose to this challenge most effectively. Renato Sanches teed up João Mario for a 20 yard half volley into the top corner after quarter of an hour and before half time they'd built themselves a 2 goal cushion through André Silva, who slotted in after Bruma squared the ball into the box from the left channel. The Czechs continued to flail in the second half as the Portuguese turned the knife. A long Diogo Dalot throw from the right was flapped at by goalkeeper Tomas Vaclik and Silva flicked the ball on for substitute Gelson Martins, who was unmarked at the far post to volley in his country's 3rd. With 20 minutes to play, any hopes of a comeback were squashed when Renato Sanches picked out sub João Carvalho in acres of space 25 yards out. Carvalho took a touch and smashed the ball into the top right corner to complete a resounding victory. The only downside for the Portuguese was an André Silva injury 5 minutes from time, which has since been confirmed as a broken foot that'll keep him sidelined for the rest of the Euros and then some.
Portugal will stroll through to the second round with Ukraine though, while the Czech Republic will rue their defensive collapse. A 1-0 loss would have seen them progress, but now with a goal difference of -3, they slide below even Russia in the 3rd place race. Czechia are eliminated on goal difference.
Portugal: 3rd -> 2nd (Qualified for Second Round)
Czech Republic: 2nd -> 3rd (Eliminated)
Croatia v Norway
Norway, on 3 points before the final game, had assurance that 3 more would see them through to the Second Round. Croatia on the other hand, had no points and could only hope. They needed the win and they needed Turkey to beat Germany. Then they needed some kind of mathematical miracle to see them progress.
Norway came out for the match like a bullet from a gun. After 4 minutes, Vidar Holm squared for Jørgan Strand Larsen, who curled in the opener from 20 yards, then 7 minutes later Tin Jedvaj slid in on Iver Fossum, only succeeding in knocking the ball over to Holm, who drove low into the bottom corner. Croatia scraped back a glimpse of that hope in the 20th minute, when Marko Pjaca found himself on the end of a Nikola Vlasik through ball and placed a shot beyond Rossbach, but within 5 minutes the Norwegians struck again: Jonas Svensson's low cross from the right was met by Vidar Holm in the 6 yard box and he restored his country's cushion. A deceptively even match was finished off when that man Holm flicked on a long ball from Tobias Svendsen and Oddbjørn Thoresen ran through to complete the 4-1 scoreline with a placed finish.
Norway will be exceptionally happy with their showing in the Group Stage: Wins against the pre-tournament Group C favourites Germany and Norway have won them the group and given them a good platform to build on. As even as the match was in terms of chances though, make no mistake: Euro 24 has been a catastrophic failure for Croatia. 0 points. 3 goals scored. 10 conceded. Marko Pjaca has put in some good performances and will leave with his head held high, but that's about the only takeaway in a hugely disappointing Group Stage for the Croatians.
Croatia: – 4th (Eliminated)
Norway: 2nd -> 1st (Group C Winners)
Turkey v Germany
Turkey took to the Stadio Olympico pitch bidding for a Group C clean sweep, having qualified with a match to spare in one of the biggest surprises of the Euros so far. Germany knew that despite the result between Croatia and Norway, a win would take them through.
The Germans' win over Croatia built some momentum and they certainly brought that with them for this match. They were ahead within 20 minutes when PSG midfielder and Germany skipper Silvio Cvitanovic laid the ball off for Wilske Dimmier, who stroked it into the net beautifully from the edge of the box. Christopher Dieckmann, infuriated that his country had scored a goal without his contribution, then set about putting that right by picking the ball up 10 yards inside his own half and powering through towards the Turkish net at full speed. He skipped past Mehmet Niyaz, he surged past Yigithan Güveli, he reached the edge of the 6 yard box and he poked the ball past Akyüz. With 7 minutes still to go before the break, Dieckmann added a 3rd for Germany, receiving the ball with his back to goal on the edge of the area and curling a shot into the corner on the turn. Dieckmann's been one of the players of the tournament so far and after another classy performance, it seems he's still got more to give.
Turkey will be… Well, not disappointed exactly. They'll be irked to have finished in 3rd place after such a promising start to the Group Stage. Now joined by 2 more of their group on 6 points, Turkey's 0-3 loss to the Germans swaps the two teams' goal differences, with Turkey's finishing on 0 and Germany's on 3. Norway's goal difference of 4 clinches them the top spot, but all 3 sides will be decently pleased with their final positions.
Turkey: 1st -> 3rd (Qualified for Second Round)
Germany: 3rd -> 2nd (Qualified for Second Round)
Italy v Sweden
The hosts were under a mountain of pressure at the Stadio Marc'Antonio Bentegodi in a match that could send them through or send them home. Italy and Sweden started the match almost equal, both with 3 points but with the Swedes having a goal difference 1 better than their counterparts. Both sides knew that they would progress even with a loss (Within reason) as Italy would need to lose by 2 or 3 goals depending on goals scored to slip below Russia in the 3rd place race, while Sweden would need to lose by 3 or 4.
What resulted though was a hard fought match, with both sides vying to pick up the 3 points that'd send their fans home happy. Italy took the lead 27 minutes in when Gianluigi Cacioppini's byline cross was volleyed in at the near post by Federico Chiesa, but on the hour mark Sweden equalised following a superb flowing move. Jonas Claesson's clever pass split the defence and allowed Saed Haksabanovic to wriggle free through the left channel, after which he pulled it back for Jordan Larsson, son of Swedish legend Henrik, who got himself ahead of Luca Cesana to tap the ball home from close range. The Swedish fans were in jubilant mood right up until the 89th minute, when a sustained period of Italian pressure finally broke their resolve. Substitute Filippo Melegoni swung in a cross from the left, Chiesa held the ball up on the penalty spot and laid it off for young substitute Alessandro D'Innocenzo, who swiped in his first international goal in dramatic fashion on only his 2nd appearance for the national side.
The late drama and euphoria that D'Innocenzo's goal created will surely buy Italy some much needed breathing room and good grace with their fans and media, who had been unimpressed with their loss against the Belgians. Sweden will be gutted to record their 2nd loss in 3 matches, especially so late on, but progression from one of the toughest groups at the tournament is still guaranteed and they should be proud of that.
Italy: 3rd -> 2nd (Qualified for Second Round)
Sweden: 2nd -> 3rd (Qualified for Second Round)
Poland v Belgium
Poland's chances of survival would have been low even if their last match hadn't been against one of the most in-form sides at the tournament. Belgium, having already swept aside both Sweden and Italy, came to the Stadio Artemio Franchi expecting to record 3 wins out of 3 and put their opponents out of their Euro 24 misery.
It was Poland though who came tearing out of the traps, with Arkadiusz Milk rattling the bar with a powerful header after 7 minutes and then Kamil Padzik volleying in the opener from 6 yards just minutes later, after Stéphan Vandamme failed to reach a Kamil Joziwak cross. The Belgians hit back 10 minutes later when a defence splitting pass from Youri Tielemans released Mo Hamoudah, who was hacked down by Jan Bednarek close inside the box. Tieleman's penalty kick was precise into the top left and the game was level once again. The Belgian fans howled for blood but again, Poland refused to roll over. After the half hour, Polish captain Jaroslaw Budzyn broke down the right wing, made a fool of Jordan Lukaku with some slick footwork and then squared the ball for Milik, who slid it into the corner from 10 yards to restore his side's lead. Whether it was embarrassment, a half time dose of the hairdryer treatment or just grim determination, something got into Belgium for the second half. Tielemans' lofted ball forward 5 minutes after the break was headed weakly away by Mateusz Wieteska as he collided with his outrushing goalkeeper Bartlomiej Dragowski, which allowed Kevin De Bruyne to cushion the ball down for Hamoudan, who tucked the ball into the empty net to equalise. 5 minutes later, the turnaround was completed when De Bruyne rose above Bednarek to flick the ball into the path of Divock Origi, who ran clean through and clipped the ball past the beaten Dragowski. From then on the match was only going to finish one way. After the hour mark a Tielemans free kick deflected into the net off the Polish wall and then Hamoudan wrapped up the scoring with a crisp finish from Origi's low cross.
So after early promise from Poland, Belgium complete their clean sweep of Group C and the Polish head home. It's a shame really that we were just beginning to see the best of the Polish offensive line as their tournament ended, but the fact remains that their defence is quite appalling, especially Jan Bednarek, who'll take unwanted attention away from this match as he was at the heart of almost every Belgian goal. Belgium on the other hand are now a force to be reckoned with. With memories of Canada 22 rapidly fading in the rear view mirror, they've really got a chance of making something of this tournament.
Poland: – 4th (Eliminated)
Belgium: – 1st (Group D Winners)
Denmark v France
Denmark were hoping that France would be happy with sharing the spoils at the Stadio San Nicola, as a draw would see both sides comfortably through to the Second Round. France however were looking for a comfortable win after accusations that their previous results, a 2-2 draw with England and an uneasy 3-1 win over Georgia, were not up to scratch.
As penalties are all the rage at the minute, France got in on the action early when Thomas Delaney unceremoniously and needlessly bundled Lucas Digne to the ground after Vestergaard had already cleared a French corner. Kylian Mbappé's spot kick was unconvincing but found the net thanks to some equally poor handling by Michaelsen and France took the lead. The Danes equalised against the run of play with the half hour approaching when Cornelius' low cross was turned in by Kasper Dolberg, leaving the scores level at half time, much to the chagrin of the French fans. Both sides went close in the second half although France continued to dominate, with Kingsley Coman and Kylian Mbappé both heading against the woodwork and Leo Gauthier forced into a couple of superb saves by Dolberg and Ramkilde, but the scores stayed level. But then with under 20 minutes to play, the French finally found the winning goal when Neal Maupay's looping effort crashed back off the bar to be tucked in by Raphaël Varane.
That result will do little to ease expectations or the building pressure on WT Franco, but for Denmark, it's just enough. Their refusal to lose by more than a single goal leaves them on 3 points with a goal difference of -2. They progress through to the Second Round by the virtue of having scored 2 more goals than Russia.
Denmark: – 3rd (Qualified for Second Round)
France: – 2nd (Qualified for Second Round)
Georgia v England
At the start of the match, only a thrashing at the hands of Georgia and a Denmark victory over France would prevent England from progressing to the Second Round, while only a thrashing over England and a France victory over Denmark would give Georgia any hope of qualification.
Georgia dominated the ball during the pair's encounter at the Stadio Luigi Ferraris but came away with little to show for it as England hit them incisively time and time again. The English opened the scoring through Oliver Webb's chipped ball to Marcus Rashford, who volleyed it in from the penalty spot. Rashford doubled his tally after half an hour after an absolutely superb flat pass down the right channel from Ross Barkley released Harry Kane, who then pulled it back from the byline and gave the United man an easy finish. Half time came and went, then in the 55th minute Kane headed down a lofted pass from Lewis Cook, allowing Rashford to bring the ball under control and then complete his hat trick in style, blasting into the bottom corner from the edge of the Georgian box. After the hour mark he struck once more too. Kane switched the play to Ed Lynes, who charged down the left wing leaving Solomon Kverkvella for dead and then whipped in a cross, which Rashford volleyed in from close range.
Out of nowhere, Marcus Rashford's tally of 4 goals in a dominant win over Georgia has put him into the Golden Boot conversation as England sail comfortably through to the Second Round as Group E Winners. Georgia however head home, having just lacked the quality to compete in a tough group.
Georgia: – 4th (Eliminated)
England: – 1st (Group E Winners)
Spain v Serbia
Spain and Serbia will have gone into their tie at the Stadio San Paolo with very different mentalities, with Spain having made several changes having already won Group F with 6 points, while Serbia lagged behind them in 2nd place and with only 2.
In all honesty the result was not as much of a shock as it should have been. Spain didn't really get out of second gear as they allowed Serbia to dominate the ball for large periods and eventually sneak the winning goal when substitute Sava Petrov chipped in a free kick that was glanced into the net by fellow sub Nemanja Antonov, who had been on the pitch for under 2 minutes. The match itself was scrappy, it was slow and it was just what Serbia wanted and needed as they secured 2nd place. The Spanish won't be too bothered about the result itself as they've been able to rest key players, but their substitute Koké coming off with a hip injury that'll end his tournament in the 89th minute certainly left a sour taste in the mouth.
Spain: – 1st (Group F Winners)
Serbia: – 2nd (Qualified for Second Round)
Switzerland v Scotland
Till a' the seas gang dry, my dear and the rocks melt wi' the sun,
I will luve thee still, my dear, while the sands o' life shall run.
The eagle eyed among you will have noticed that only 3 3rd placed teams have qualified so far and that Spain and Serbia finished 1st and 2nd in Group F. With all of the other groups' matches already played, Switzerland and Scotland met in front of a crowd of over 80,000 at the San Siro on a point apiece, knowing that 3 points would take either side through to the Second Round as either the 2nd or 3rd placed side in Group F.
I've prepared a wee poem of my own if ye'll indulge me:
When thon wee fanny Tarashaj put baw intae the net,
We Scots began tae greet fur 'nother twa year ae regret.
The thistles stairtit deein' an' auld Nevis 'gan tae shrink,
But aff came Strachan's michty gloves tae drag us fae the brink.
Markie Broon scored fae the spot tae square it aw awa,
Thon fanny Shani struck once mair tae lead us at the break.
We tholed the songs, insults an' aw, oor sodgers focht along,
We niver let oor laddies think oor hope in them had gone.
Aye right, thae Swiss an' Tarashaj can get thaesels tae fuck,
Fur hawpin' agin hawp that brave Scotland hud gien up.
'Cause while thair fans were hootin', Davey levelled up the game,
Then Jackie stuck a boot in fur tae send thae bastarts hame.
I warned ye that thon baw wud drap, I warned ye we'd reply,
I warned thae Swiss an' Serbians an' Spaniards that we'd rise.
Thay shudae kent tae pack thair pokes the moment thay hud seen,
The tartan army mairchin' an' the steel in Gunnie's een.
Switzerland: – 4th (Eliminated)
Scotland: – 3rd (Qualified for Second Round)
So there we have it! Your final 16 is:
The Netherlands, Romania, Ukraine, Portugal, Norway, Germany, Turkey, Belgium, Italy, Sweden, England, France, Denmark, Spain, Serbia and Scotland.
Condolences to Russia, Northern Ireland, Czech Republic, FYR Macedonia, Croatia, Poland, Georgia and Switzerland.
But we can't leave it there. Who's facing who in the Second Round? Which clashes of the titans can we look forward to? I'm glad you ask…
Second Round Preview
Germany (2nd Group C) v Romania (2nd Group A)
Two sides that have picked up 6 points from their 3 Group Stage matches go head to head in the first of our Second Round ties. The momentum is with Germany however, who lost their opening tie against Norway but have since recorded comfortable wins over Croatia and Turkey, while Romania won their opening 2 matches against Northern Ireland and Russia without conceding, before losing precious momentum against the Netherlands in their last Group match.
Best Players So Far
Germany striker Christopher Dieckmann had a quiet start to the tournament but has exploded in the subsequent matches, scoring 5 goals, registering 1 assist and picking up 2 Player of the Match awards against Croatia and Turkey. Romania's goals have been fewer than Germany's and they've also been spread more evenly between their forward line, but Florin Tanase has impressed me most, registering a superb free kick goal and an assist so far.
Belgium (1st Group D) v Denmark (3rd Group E)
Belgium have torn through each nation they've come up against so far and Denmark, the lowest ranked of the 3rd place qualifiers, will just hope they can hold on for a penalty shootout, or shut up shop and sneak a late winner. The Danes have picked up just one win against Georgia but they put in a strong, resilient performance against France and that will give them hope.
Youri Tielemans has put in some excellent performances for Belgium so far, pulling the strings for his side and scoring 4 goals, albeit 3 from the spot. The player that's impressed me even more though is Mohamed Hamoudan, who scored 3 goals and assisted 1 as his side dominated Group D. No Danish players have shone that brightly thus far, but I'll say that Pierre-Emerick Højbjerg has been their best player. Along with midfield partner Thomas Delaney, Højbjerg has been consistently solid in the centre of the park and clinches my vote by virtue of not having given away a ridiculous penalty against France.
Turkey (3rd Group C) v Ukraine (1st Group B)
I had an inkling that Turkey would in fact beat Germany to become the 4th side to keep a 100% record throughout the Group Stage and I have to say, I do wish that this was a meeting between 2 teams that had won every match so far. As it is though, Turkey have suffered their first blip of an otherwise very promising tournament, while Ukraine have been getting the job done quite efficiently. Ukraine will certainly be the favourites, but Turkey have already shown that they are no pushovers.
Emre Günal has been excellent so far for Turkey, scoring one goal and assisting another, while no doubt counting himself unlucky to have picked up only one Player of the Match award against Norway. For Ukraine, goalkeeper Mykyta Shevchenko certainly deserves a mention for solid performances throughout the group stage, beaten just once against Macedonia, but how can I not give the honour of best player to their captain-for-the-day and hat trick scoring right back Valeriy Luchkevych? Solid performances again and a great story. Taras Stepanenko will be wondering when he'll get that armband back.
Spain (1st Group F) v France (2nd Group E)
This one really leaps off the page, doesn't it? Group F winners Spain against Group E runners up France. We've certainly seen glimpses of what both teams can do – Spain in the 2nd half against Switzerland, France in the last half hour against England, but for me both of these sides have been fairly disappointing so far. Yes they've qualified, but France struggled to beat Georgia and Denmark, while Spain scraped past Scotland and lost to Serbia. This could be a magnificent game of football, or it could be very forgettable. It depends which versions of the sides turn up.
Best Player So Far
Hector Bellerin stands out as one of the best Spanish performers, laying on a couple of goals for his team mates as well as remaining solid in the matches that he's played (Thankfully he was left out of the Serbia tie), although it mystifies me why we've seen so little of Alvaro Morata, who scored a brace and laid on a goal in the opening match and who we haven't seen since. For France, I'd have to give the honour to Paul Pogba. The captain scored 3 times in the 2 matches he played, winning the Player of the Match award against Georgia.
Scotland (3rd Group F) v Norway (1st Group C)
Scotland have already made me proud. 3rd place in Group F and progression to the Second Round is a feat in itself and for me, I think they would've climbed to 2nd if Spain hadn't made so many changes for their final match and handed the win to Serbia. Norway will be tough opposition, losing only to Turkey in the Group Stage and showing their quality by piling the misery onto Croatia.
Angus Gunn for Scotland, obviously. For Norway, obviously you have to look at Vidar Holm for his contribution to the aforementioned dismantling of Croatia, but for me I've been impressed by Iver Fossum, who's been a rock in the centre of midfield and has chipped in with a goal to boot.
Italy (2nd Group D) v England (1st Group E)
I'll be getting the popcorn out for this one. Italy, aside from the disappointing result against Belgium, have been very good. England have also been very good. Both sides have quality players throughout and both sides are mostly putting in the performances to match.
I was disappointed to see Yuri Brugger dropped for Italy's crucial second match after such a staggeringly impressive opening game, but actually when he came back into the side against Sweden he looked like a shadow of the player I saw against Poland. Most players have been fairly solid throughout the Group Stage, but in the absence of any one standout player, captain Gianluigi Donnarumma gets my vote for a string of steady performances. I'd also like to be the first to offer my condolences to my own twitter feed as I'm going to overlook Marcus Rashford for England's best player so far despite his 4 goals against Georgia. I'm looking at players who've impressed me throughout the Group Stages and I reckon it's a tie between Harry Kane and young Oliver Webb, who've each scored 2 goals, set up another 2 and have put in some exquisite performances.
Netherlands (1st Group A) v Sweden (3rd Group D)
The Netherlands have been so dominant right from the start that I rather think they're being overlooked throughout Europe as people gravitate towards the likes of Belgium and Germany as likely winners. The Netherlands look like an absolute bohemoth though and in an admittedly quite soft group, they've qualified at a canter. I think we're yet to see the best of them. Sweden on the other hand will have been hoping for an easier draw as they've lost both matches they've played against "better" sides. They'll find it tough.
It's difficult to look past Thomas Buitink for the Netherlands. He's the joint top scorer in the Euros so far with Christopher Dieckmann and although 3 of his goals have come from penalties, he's also shown his quality by assisting 2 more. 3 more if you include the penalty he won himself. For Sweden, Linus Wahlqvist deserves a mention for his admirable displays at the back, but Saed Haksabanovic gets my vote for scoring one, assisting one and putting in consistently good displays from the left wing.
Serbia (2nd Group F) v Portugal (2nd Group B)
Serbia are still a bit of an unknown quantity to me if I'm honest, despite having watched all 3 of their matches. They spent 90 minutes kicking the shins of Scotland players and drew, then they spent 90 minutes kicking the shins of Switzerland players and drew, then they spent 90 minute not kicking the shins of Spain's 2nd string and won. I suppose my advice to them would be… Stop kicking people's shins, you psychopaths. Shin kicking aside, Portugal will fancy their chances here. The only time they failed to comfortably win a Group Stage match was against Ukraine, a match in which they dominated everything except the scoreline and conceded from Ukraine's only shot on target.
There's not exactly a long list of players that've performed consistently well for Serbia. We may as well throw a dart at a list of names… Predrag Rajkovic? Sure, why not. Goalkeeper, captain, solid, only conceded once. For Portugal, the list is slightly longer and although I admit that João Mario's 2 wonder goals nearly swayed me, I'm going for Renato Sanches. He's been absolutely superb and for my money, one of the best players at the tournament so far. No goals and 3 assists to his name, but he's been pulling strings constantly to keep his side ticking over.
That'll be the Second Round, then. I'll see you bright and early the morning after the last match for a full dissection.
Euro 24 Part 11 >
Author: wtfranjo
My name is Franjo. And I will be a Football Manager.	View all posts by wtfranjo
Author wtfranjoPosted on October 31, 2018 February 8, 2019 Categories Franjo - A Journeyman StoryTags aj auxerre, angrense, auxerre, fc, FC Höllviken, fm 17, fm 2017, fm17, fm2017, football, football manager, football manager 17, football manager 2017, france, franjo, gieksa, gks katowice, Höllviken, journey, journey man, journeyman, katowice, liechtenstein, man, manager, santos, santos fc, sc angrense, sport clube angrense
3 thoughts on "Group Stage Roundup 3 & Second Round Preview (Franjo: A Journeyman Story – Euro 24 Part 10)"
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insanehasani says:
Germany still in so my predictions on them flopping is out window with the Swiss lol
At least I predicted you not topping your group 😊
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text:
Q: Retrieve bound value in angularjs directive I know the same angular attribute directive can be bound a number of ways:

data-hello-world, x-hello-world and hello:world are all valid attributes for binding the helloWorld attribute directive.

In the link function for my directive, how do I know which of these attribute keys was used?
So, if my html is:

and my directive is:
app.directive('helloWorld', function() {
    return {
        restrict: 'A',
        link: function(scope, elem, attrs) {
            console.log(attrs[???]);
        }
    }
});

how do I know which attribute to look for in the directive so that the correct value gets logged?

A:

app.directive('helloWorld', function() {
return {
    restrict: 'A',
    link: function(scope, elem, attrs) {
        console.log(attrs.one); // bye
   console.log(attrs.helloWorld); // hi
    }
}
});

Here 'helloWord' directive is used as an attribute. so that the value assigned to "data-hello-world" which is "hi" will be found in parameter called attrs defined in link function. Same time it will look for other attributes mentioned with helloWorld directive. here i've mentioned 'one' attribute and this can also be found in attrs parameter defined in link function. you can get attributes' values from attrs parameter. (And yes there are mulitple ways to bound a value as you have mentioned in your description)
any further question, raise your question and answer will be given.

A: Angular directives access attributes and scope from the view using camel cased naming convention without the special characters. See the documentation.

Directives have camel cased names such as ngBind. The directive can be
  invoked by translating the camel case name into snake case with these
  special characters :, -, or _. Optionally the directive can be
  prefixed with x-, or data- to make it HTML validator compliant.

Plunker
var app = angular.module('MyApp', []);

app.directive('helloWorld', function() {
    return {
        restrict: 'A',
        link: function(scope, elem, attrs) {
            console.log(attrs['helloWorld']);
        }
    }
});

redpajama_set_name: RedPajamaStackExchange


text:
The Queets Fir is a superlative Douglas fir about 2.5 miles from the Queets River Trail trailhead, on Coal Creek, a tributary of Queets River in the Olympic National Park in Washington State. It was known for fifty years, beginning in 1945, as the largest known fir by volume, and is still largest known in diameter. It has a height of at least , circumference , and spread of . It was listed as national co-champion Douglas fir by American Forests, and one of only a handful of "undisputed megatrees" in North America with over 800 points.

References

Sources

Further reading

Olympic National Park
Individual trees in Washington (state)
Individual Douglas firs
Jefferson County, Washington

redpajama_set_name: RedPajamaWikipedia


It is a favorable dream to see birds of beautiful plumage. A wealthy and happy partner is near if a woman has dreams of this nature. Moulting and songless birds, denotes merciless and inhuman treatment of the outcast and fallen by people of wealth. To see a wounded bird, is fateful of deep sorrow caused by erring offspring. To see flying birds, is a sign of prosperity to the dreamer. All disagreeable environments will vanish before the wave of prospective good. To catch birds, is not at all bad. To hear them speak, is owning one's inability to perform tasks that demand great clearness of perception. To kill than with a gun, is disaster from dearth of harvest….
In a dream, a birds' salesman represents all types of gatherings, including celebrations or grief….
To see birds flying are very unlucky; it denotes sorrowful setback in circumstances. Poor persons may become better especially if they hear birds sing….
Dreaming of this sweet songster, denotes unexpected pleasures. For the young Dreaming of possessing a beautiful canary, denotes high class honors and a successful passage through the literary world, or a happy termination of love's young dream. Dreaming one is given you, indicates a welcome legacy. To give away a canary, denotes that you will suffer disappointment in your dearest wishes. Dreaming that one dies, denotes the unfaithfulness of dear friends. Advancing, fluttering, and singing canaries, in luxurious apartments, denotes feasting and a life of exquisite refinement, wealth, and satisfying friendships. If the light is weird or unnaturally bright, it augurs that you are entertaining illusive hopes. Your over-confidence is your worst enemy. A young woman after this dream should beware, lest flattering promises react upon her in disappointment. Fairy-like scenes in a dream are peculiarly misleading and treacherous to women….
Dreaming of seeing birds' nests, denotes that you will be interested in an enterprise which will be prosperous. For a young woman, this dream foretells change of abode. To see an empty nest, indicates sorrow through the absence of a friend. Hens' nests, foretells that you will be interested in domesticities, and children will be cheerful and obedient. Dreaming of a nest filled with broken or bad eggs, portends disappointments and failure. See Birds' Nest….