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In the first part of this talk I will describe how the formalism of non-equilibrium effective field theory (EFT) provides a field-theoretical description of the low-energy behavior of systems in local thermal equilibrium. As an example, I will show how generalized global symmetries allow to incorporate magnetohydrodynamics in this formalism. I will conclude this part by mentioning the connection of these EFT's with holography. In the second part of the talk I will discuss how an extension of this formalism leads to a novel effective theory of topological response for Floquet systems, which are inherently far from equilibrium.