For further discussion, see “Full Employment and Balanced Growth Act of 1978 (Humphrey-Hawkins)” on the Board’s website at https://www.federalreservehistory.org/essays/humphrey_hawkins_act. -3 how best to promote sustained prosperity in a world of slow global growth, low inflation, and low interest rates. Near the end of my remarks, I will discuss the current context, and the ways these questions are shaping policy.
For example, like the linking of the railways, the realisation that a single, interconnected EFTPOS system was more valuable than a number of individual EFTPOS systems that could not talk to one another drove co operation and standardisation quite early in the development of that system.