hj]zgbazpby h[t ^bg gguo gzpbc ih ?o zg]ebckdbc...
TRANSCRIPT
Hj]ZgbaZpby
H[t_^bg_gguo GZpbc ih
\hijhkZf h[jZah\Zgby�
gZmdb b dmevlmju
Bkihegbl_evguc�kh\_l
?O
Klh iylv^_kyl \lhjZy k_kkby
��� ?O���
IZjb`� �� Z\]mklZ ���� ]�
Hjb]bgZe� Zg]ebckdbc
Imgdl ���� ij_^\Zjbl_evghc ih\_kldb ^gy
MQ:KLB? =?G?J:EVGH=H >BJ?DLHJ: < IH>=HLH<D? >HDE:>:
=?G?J:EVGH=H K?DJ?L:JY HJ=:GBA:PBB H;T?>BG?GGUO G:PBC
H LJ:GK>BKPBIEBG:JGHF IJH?DL? ³G: IMLB D DMEVLMJ? FBJ:´
J?AXF?
GZklhysbc ^hdmf_gl khklZ\e_g \h bkiheg_gb_ j_r_gby Bkihegbl_ev�
gh]h kh\_lZ ������� �II �� dhlhjh_ ij_^eZ]Z_l =_g_jZevghfm ^bj_dlhjmij_^klZ\blv Kh\_lm gZ _]h ����c k_kkbb k\hb fZl_jbZeu ^ey \g_k_gby
\ ^hdeZ^ =_g_jZevgh]h k_dj_lZjy h oh^_ \uiheg_gby f_jhijbylbc \
h[eZklb h[jZah\Zgby \ jZfdZo ljZgk^bkpbiebgZjgh]h ijh_dlZ ³GZ
imlb d dmevlmj_ fbjZ´� Z lZd`_ we_f_glu ij_^\Zjbl_evgh]h ijh_dlZ
^_deZjZpbb b ijh]jZffu ^_ckl\bc \ h[eZklb dmevlmju fbjZ�
� L �
KH>?J@:GB?
:G:EBLBQ?KDH? J?AXF?
,� <<?>?GB?� KH>?CKL<B? KLJHBL?EVKL<M DMEVLMJU FBJ: �
<:@G?CR:Y A:>:Q:� KLHYS:Y I?J?> HJ=:GBA:PB?C
H;T?>BG?GGUO G:PBC
,,� H;J:AH<:GB?� HKGH<GH? KJ?>KL<H KH>?CKL<BY DMEVLMJ? FBJ:
:� Hkgh\gu_ ijbgpbiu \hkiblZgby \ ^mo_ fbjZ b ijZ\ q_eh\_dZ
<� >_yl_evghklv gZ ]eh[Zevghf mjh\g_
K� >_yl_evghklv gZ gZpbhgZevghf mjh\g_
,,,� G: IMLB D ;M>MS?FM
,9� WE?F?GLU IJ?><:JBL?EVGH=H IJH?DL: >?DE:J:PBB
HJ=:GBA:PBB H;T?>BG?GGUO G:PBC H DMEVLMJ? FBJ:
:� Ij_Zf[meZ
<� AgZq_gb_ b agZqbfhklv dmevlmju fbjZ
K� Hkgh\gu_ kn_ju b ]eZ\gu_ mqZklgbdb ^_yl_evghklb� gZijZ\e_gghc gZ
kh^_ckl\b_ kljhbl_evkl\m dmevlmju fbjZ
9� WE?F?GLU IJH?DL: <J?F?GGHC IJH=J:FFU >?CKL<BC IH
DMEVLMJ? FBJ: HJ=:GBA:PBB H;T?>BG?GGUO G:PBC
:� P_eb
<� KljZl_]by
K� >_yl_evghklv� gZijZ\e_ggZy gZ kh^_ckl\b_ g_gZkbebx b m\Z`_gbx ijZ\
q_eh\_dZ
D. F_jhijbylby� gZijZ\e_ggu_ gZ mdj_ie_gb_ ^_fhdjZlbq_kdh]h mqZklby b
mklhcqb\h]h q_eh\_q_kdh]h jZa\blby ^ey \k_o
E. >_ckl\by� gZijZ\e_ggu_ gZ h[_ki_q_gb_ jZ\_gkl\Z f_`^m `_gsbgZfb
b fm`qbgZfb
F. >_ckl\by� gZijZ\e_ggu_ gZ hdZaZgb_ ih^^_j`db dhee_dlb\ghc
dhffmgbdZpbb b k\h[h^ghfm ihlhdm b kh\f_klghfm
bkihevah\Zgbx bgnhjfZpbb b agZgbc
G. >_ckl\by� gZijZ\e_ggu_ gZ kh^_ckl\b_ ihgbfZgbx l_jibfhklb
b kheb^Zjghklb \k_fb gZjh^Zfb b dmevlmjZfb
��� ?O���
:G:EBLBQ?KDH? J?AXF?
I_j_^ Hj]ZgbaZpb_c H[t_^bg_gguo GZpbc klhbl aZ^ZqZ m^\hblv mkbeby b
j_kmjku ^ey ^hklb`_gby k\h_c ]eZ\ghc p_eb � ba[Z\blv ]jy^msb_ ihdhe_gby hl
[_^kl\bc \hcgu� >ey wlh]h g_h[oh^bfh baf_gblv g_ lhevdh \h_ggu_ kljmdlmju b
^hdljbgu� gh b ijhba\_klb dhj_ggu_ ij_h[jZah\Zgby \ kZfhc dmevlmj_� ij_\jZlb\
dmevlmjm gZkbeby b \hcgu \ dmevlmjm fbjZ�
< dZq_kl\_ k\h_c i_j\hhq_j_^ghc aZ^Zqb XG?KDH jZkkfZljb\Z_l h[_ki_q_gb_
i_j_oh^Z hl dmevlmju \hcgu d dmevlmj_ fbjZ� K_cqZk� gZ ihjh]_ XXI \_dZ�
khhl\_lkl\mxsZy jZ[hlZ m`_ \_^_lky gZ jZaebqguo mjh\gyo� Ihgylb_ dmevlmju fbjZ
\dexqZ_l \ k_[y p_euc jy^ p_gghkl_c� \a]ey^h\ b \b^h\ ih\_^_gby� dhlhju_ hljZ`Zxl
hij_^_e_ggu_ khpbZevgu_ hlghr_gby b kihkh[kl\mxl jZa\blbx lZdbo hlghr_gbc�
dhlhju_ kljhbebkv [u gZ ijbgpbiZo k\h[h^u� kijZ\_^eb\hklb b ^_fhdjZlbb�
l_jibfhklb b kheb^Zjghklb� hldZaZ hl gZkbeby b [ueb gZijZ\e_gu gZ ij_^hl\jZs_gb_
dhgnebdlh\ iml_f mkljZg_gby bo ijbqbg� dhlhju_ j_rZeb [u ijh[e_fu iml_f ^bZeh]Z
b i_j_]h\hjh\ b ]ZjZglbjh\Zeb [u dZ`^hfm \hafh`ghklv \ iheghc f_j_ ihevah\Zlvky
k\hbfb ijZ\Zfb b Zdlb\gh mqZkl\h\Zlv \ wg^h]_gghf jZa\blbb k\h_]h h[s_kl\Z�
<f_klh lh]h� qlh[u \f_rb\Zlvky \ dhgnebdlu� k\yaZggu_ k gZkbeb_f m`_ ihke_
lh]h� dZd hgb ijhbahc^ml� Z aZl_f aZgbfZlvky ihbkdZfb fbjgh]h bo j_r_gby� [ueh [u
[he__ ]mfZggh b wnn_dlb\gh ij_^hl\jZsZlv lZdh_ gZkbeb_� \ i_j\mx hq_j_^v iml_f
bkdhj_g_gby _]h ijbqbg� Bf_ggh \ wlhf b khklhbl kmsghklv ih^oh^Z� hkgh\Zggh]h gZ
ijbgpbiZo dmevlmju fbjZ� GZ mjh\g_ ]hkm^Zjkl\Z lZdhc ih^oh^ ebrv ih^q_jdb\Z_l
wnn_dlb\ghklv mijZ\e_gby� hkgh\Zggh]h gZ kijZ\_^eb\hklb� ^_fhdjZlbq_kdhf mqZklbb
b rbjhdhf \h\e_q_gbb ex^_c \ ijhp_kk jZa\blby�
AZ^ZqZ kh^_ckl\by kljhbl_evkl\Z dmevlmju fbjZ gZklhevdh h[t_fgZ b k\yaZgZ k
lZdbfb ^Ze_dh b^msbfb ihke_^kl\byfb� qlh hgZ fh`_l [ulv j_r_gZ ebrv \ lhf
kemqZ_� _keb klZg_l i_j\hkl_i_gghc aZ^Zq_c ^ey \k_c kbkl_fu Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc� ?keb kqblZlv� qlh \ kZfhf rbjhdhf kfuke_ h[jZah\Zgb_
y\ey_lky ]eZ\guf lj_[h\Zgb_f k_]h^gyrg_]h ^gy� lh ^ey lh]h� qlh[u khhl\_lkl\mxsZy
^_yl_evghklv [ueZ mki_rghc� h[jZah\Zgb_ ^he`gh Zkkhpbbjh\Zlvky k khpbZevghc
kijZ\_^eb\hklvx b mklhcqb\uf jZa\blb_f q_eh\_dZ� Hj]ZgbaZpby H[t_^bg_gguo
GZpbc m`_ \ghkbl \Z`guc \deZ^ \ wlh ^_eh� qlh ih^l\_j`^Z_lky j_amevlZlZfb
ijh\_^_gguo _x g_^Z\gh \k_fbjguo dhgn_j_gpbc� \dexqZy <_gkdmx dhgn_j_gpbx� ih
ijZ\Zf q_eh\_dZ� Dhgn_j_gpbx \ Jbh�^_�@Zg_cjh b Dhi_g]Z]_g_� gZ dhlhjuo
jZkkfZljb\Zebkv ijh[e_fu mklhcqb\h]h q_eh\_q_kdh]h jZa\blby� b Dhgn_j_gpbx \
I_dbg_� ]^_ ih^gbfZebkv \hijhku jZ\ghijZ\by `_gsbg� Z lZd`_ ihke_^mxsbfb
f_jhijbylbyfb \h bkiheg_gb_ j_r_gbc wlbo dhgn_j_gpbc�
Ij_^eZ]Z_lky jZkkfZljb\Zlv kh^_ckl\b_ kljhbl_evkl\Z dmevlmju fbjZ \ dZq_kl\_
h[s_c aZ^Zqb� j_r_gb_ dhlhjhc [m^_l kihkh[kl\h\Zlv kha^Zgbx Zlfhkn_ju ih^ebg�
gh]h jZ\_gkl\Z b _^bgkl\Z kj_^b ]hkm^Zjkl\ � qe_gh\ Hj]ZgbaZpbb H[t_^bg_gguo
GZpbc� DmevlmjZ fbjZ hkgh\u\Z_lky gZ hkgh\hiheZ]Zxsbo p_gghklyo� jZ^b dhlhjuo b
[ueZ kha^ZgZ Hj]ZgbaZpby H[t_^bg_gguo GZpbc b \h bfy dhlhjuo hgZ hkms_kl\ey_l
k\hx ^_yl_evghklv� DmevlmjZ fbjZ hkgh\u\Z_lky lZd`_ gZ klj_fe_gbb k^_eZlv wlb
p_gghklb hkgh\hc \a]ey^h\ b ih\_^_gby ex^_c gZ \k_o mjh\gyo q_eh\_q_kdh]h
h[s_kl\Z� < hlebqb_ hl fgh]bo ^jm]bo \Z`g_crbo aZ^Zq� klhysbo i_j_^
q_eh\_q_kl\hf k_]h^gy� kljhbl_evkl\h dmevlmju fbjZ y\ey_lky aZ^Zq_c� \ j_r_gb_
��� ?O��� - page �
dhlhjhc fh`_l \g_klb \_khfuc \deZ^ ex[h_ ]hkm^Zjkl\h� dZd [hevrh_� lZd b fZeh_�
Lhqgh lZd `_ hl ml\_j`^_gby dmevlmju fbjZ \ub]jZ_l dZ`^h_ ]hkm^Zjkl\h b dZ`^uc
gZjh^� b gbdlh ijb wlhf g_ ihkljZ^Z_l� DmevlmjZ fbjZ y\ey_lky \Z`guf bgkljmf_glhf
hkms_kl\e_gby k\h_]h ijZ\Z gZ fbj \k_fb ex^vfb gZr_c ieZg_lu�
<hl ihq_fm =_g_jZevgZy :kkZf[e_y \ k\h_c j_ahexpbb ������ kh\_jr_ggh
kijZ\_^eb\h ijhkbeZ ij_^klZ\blv _c g_ lhevdh ^hdeZ^ h ^_yl_evghklb XG?KDH� gh b
we_f_glu ij_^\Zjbl_evgh]h ijh_dlZ ^_deZjZpbb b ijh]jZffu ^_ckl\bc ih \hijhkZf
dmevlmju fbjZ�
>hdeZ^ kh^_j`bl djZldh_ hibkZgb_ f_jhijbylbc XG?KDH� hkms_kl\e_gguo \
jZfdZo __ ljZgk^bkpbiebgZjgh]h ijh_dlZ ³GZ imlb d dmevlmj_ fbjZ´� =eZ\gh_
\gbfZgb_ \ wlhf ^hdeZ^_ m^_ey_lky h[jZah\Zgbx� dZd nhjfZevghfm� lZd b
g_nhjfZevghfm� Z lZd`_ hkgh\guf ijbgpbiZf h[jZah\Zgby \ p_eyo h[_ki_q_gby fbjZ
b ijZ\ q_eh\_dZ� Ij_`^_ \k_]h jZkkfZljb\Zxlky f_jhijbylby� hkms_kl\ey\rb_ky gZ
]eh[Zevghf mjh\g_� Z aZl_f l_� dhlhju_ ijh\h^bebkv gZ gZpbhgZevghf mjh\g_� \
qZklghklb \ ihkldhgnebdlguo kblmZpbyo� dh]^Z lZdb_ f_jhijbylby dhhj^bgbjh\Zebkv
k fbjhl\hjq_kdbfb mkbebyfb Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
>ey \dexq_gby \hijhkZ h dmevlmj_ fbjZ \ ih\_kldm ^gy =_g_jZevghc :kkZf[e_b
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc \ ^hdeZ^_ ijb\h^ylky we_f_glu ij_^\Zjbl_evgh]h
ijh_dlZ ^_deZjZpbb b ijh]jZffu ^_ckl\bc� Djhf_ lh]h� g_kdhevdh [he__ ih^jh[gh
]h\hjblky h lhf� dZdbf h[jZahf Hj]ZgbaZpby H[t_^bg_gguo GZpbc fh`_l kijZ\blvky
k j_r_gb_f wlhc \Z`ghc aZ^Zqb� <ur_gZa\Zggu_ we_f_glu ij_^klZ\eyxl kh[hc ebrv
i_j\uc rZ]� < oh^_ _]h h[km`^_gby ]hkm^Zjkl\Zfb�qe_gZfb hgb ^he`gu [ulv
ih^dj_ie_gu ^jm]bfb f_jZfb� ihke_ q_]h hgb fh]ml klZlv qZklvx hdhgqZl_evgh]h
l_dklZ ^_deZjZpbb b ijh]jZffu ^_ckl\bc�
< mdZaZgguo we_f_glZo [m^ms_c ^_deZjZpbb jZkkfZljb\Zxlky bklhjbq_kdZy
hkgh\Z b agZq_gb_ dmevlmju fbjZ b hij_^_eyxlky ]eZ\gu_ kn_ju ^_yl_evghklb b
]eZ\gu_ mqZklgbdb ijhp_kkZ kh^_ckl\by kljhbl_evkl\m lZdhc dmevlmju� <
ij_^eh`_gbyo� dZkZxsboky ijh]jZffu ^_ckl\bc� klZ\ylky khhl\_lkl\mxsb_ p_eb b
hij_^_ey_lky kljZl_]by ijZdlbq_kdbo ^_ckl\bc ih ^hklb`_gbx dZ`^hc ba wlbo p_e_c�
Hgb ij_^mkfZljb\Zxl lZd`_ kha^Zgb_ dhhj^bgZpbhggh]h f_oZgbafZ ^ey hkms_kl�
\e_gby wlhc ^_yl_evghklb� =hkm^Zjkl\Z�qe_gu fh]ml jZajZ[Zlu\Zlv b kh[kl\_ggu_
ijh]jZffu ^_ckl\bc�
>ey lh]h qlh[u ijb^Zlv wlhc ^_yl_evghklb ]eh[Zevguc oZjZdl_j� g_h[oh^bfh
jZa\b\Zlv khljm^gbq_kl\h \ h[eZklb dmevlmju fbjZ k jZaebqgufb f_`ijZ\bl_ev�
kl\_ggufb� ijZ\bl_evkl\_ggufb b g_ijZ\bl_evkl\_ggufb hj]ZgbaZpbyfb� \dexqZy
jZ[hlgbdh\ h[jZah\Zgby� `mjgZebklh\� iZjeZf_glZjb_\ b ij_^klZ\bl_e_c fmgbpb�
iZevguo \eZkl_c� j_eb]bhagu_ khh[s_kl\Z� Z lZd`_ `_gkdb_ b fheh^_`gu_
hj]ZgbaZpbb� >ey \h\e_q_gby \ wlm ^_yl_evghklv gh\h]h ihdhe_gby� klhys_]h i_j_^
ebphf [ukljh b ]em[hdh f_gyxs_]hky fbjZ� \ dhlhjhf \k_ [hevr__ agZq_gb_
ijbh[j_lZxl ijh[e_fu wlbdb� ij_^eZ]Z_lky knhjfmebjh\Zlv b^_x dmevlmju fbjZ gZ
ijhklhf b ihgylghf yaud_ b jZkijhkljZgylv __ kj_^b fheh^_`b� k l_f qlh[u \h\e_qv
__ \ ^_yl_evghklv Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� gZijZ\e_ggmx gZ ij_l\hj_gb_
wlhc b^_b \ `bagv�
��� ?O��� - page �
GZdhg_p� Hj]ZgbaZpby H[t_^bg_gguo GZpbc fh`_l ih`_eZlv h[ty\blv ]h^ beb
^_kylbe_lb_ dmevlmju fbjZ b hldZaZ hl gZkbeby� \ oh^_ dhlhjuo =_g_jZevguc
k_dj_lZjv ijh\h^be [u dZfiZgbx ih \h\e_q_gbx \k_o keh_\ h[s_kl\Z� hkh[_ggh
fheh^_`b� \ ^_yl_evghklv� gZijZ\e_ggmx gZ ml\_j`^_gb_ p_gghkl_c� \a]ey^h\ b
ih\_^_gby� khhl\_lkl\mxsbo ijbgpbiZf dmevlmju fbjZ�
��� ?O��� - page �
�� < khhl\_lkl\bb k j_ahexpb_c =_g_jZevghc :kkZf[e_b ������ hl �� ^_dZ[jy
���� ]� =_g_jZevguc ^bj_dlhj XG?KDH ij_^klZ\ey_l gb`_ke_^mxsbc ^hdeZ^ h
f_jhijbylbyo \ h[eZklb h[jZah\Zgby \ jZfdZo ljZgk^bkpbiebgZjgh]h ijh_dlZ
XG?KDH ³GZ imlb d dmevlmj_ fbjZ´� \dexqZy we_f_glu ij_^\Zjbl_evgh]h ijh_dlZ
^_deZjZpbb b ijh]jZffu ^_ckl\bc \ h[eZklb dmevlmju fbjZ� GZklhysbc ^hdeZ^
khklZ\e_g \ jZfdZo fbjhl\hjq_kdhc ^_yl_evghklb Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
\ lhf qbke_ >_kylbe_lby Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih h[jZah\Zgbx \
h[eZklb ijZ\ q_eh\_dZ ���������� ]]�� b =h^Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
ihk\ys_ggh]h l_jibfhklb� Z lZd`_ ijh]jZff ^_ckl\bc� ijbgyluo gZ g_^Z\gbo
\k_fbjguo dhgn_j_gpbyo Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
I� <<?>?GB?� KH>?CKL<B? KLJHBL?EVKL<M DMEVLMJU FBJ: �
<:@G?CR:Y A:>:Q:� KLHYS:Y I?J?> HJ=:GBA:PB?C
H;T?>BG?GGUO G:PBC
�� K hdhgqZgb_f oheh^ghc \hcgu i_j_^ Hj]ZgbaZpb_c H[t_^bg_gguo GZpbc \klZeZ
aZ^ZqZ m^\hblv mkbeby b j_kmjku ^ey ^hklb`_gby k\h_c ]eZ\ghc p_eb � ba[Z\blv
]jy^msb_ ihdhe_gby hl [_^kl\bc \hcgu�� >ey ^hklb`_gby wlhc p_eb g_h[oh^bfh
baf_gblv g_ lhevdh \h_ggu_ kljmdlmju b ^hdljbgu� gh b ijhba\_klb dhj_ggu_
ij_h[jZah\Zgby \ kZfhc dmevlmj_� ij_\jZlb\ dmevlmjm gZkbeby b \hcgu \ dmevlmjm
fbjZ�
�� >\Z^pZlv \hkvfZy =_g_jZevgZy dhgn_j_gpby XG?KDH� ijhoh^b\rZy \ ���� ]��
jZkkfZljb\ZeZ i_j_oh^ hl dmevlmju \hcgu d dmevlmj_ fbjZ \ dZq_kl\_ h^ghc ba
i_j\hhq_j_^guo aZ^Zq� IjhZgZebabjh\Z\ i_j\u_ blh]b \uiheg_gby Ijh]jZffu
dmevlmju fbjZ� jZajZ[hlZgghc _x \ ���� ]�� =_g_jZevgZy dhgn_j_gpby aZy\beZ� qlh
lZdhc i_j_oh^ y\ey_lky \Z`g_cr_c aZ^Zq_c� klhys_c i_j_^ q_eh\_q_kl\hf \ dhgp_ XX\_dZ� b ihk\ylbeZ Kj_^g_kjhqgmx kljZl_]bx XG?KDH gZ ��������� ]]� ^hklb`_gbx
wlhc p_eb�� Wlh jZkkfZljb\Zehkv dZd kh\j_f_ggh_ \ujZ`_gb_ mklZ\gh]h h[yaZl_evkl\Z
XG?KDH� \ khhl\_lkl\bb k dhlhjuf h[_ki_q_gb_ fbjZ lj_[m_l [hevr_]h� q_f
iheblbq_kdb_ b wdhghfbq_kdb_ kh]eZr_gby f_`^m ijZ\bl_evkl\Zfb � b^_y aZsblu
fbjZ ^he`gZ mdhj_gylvky \ khagZgbb ex^_c��
�� B^_b dmevlmju fbjZ� knhjfmebjh\Zggu_ =_g_jZevghc dhgn_j_gpb_c XG?KDH�
jZkijhkljZgyxlky gZ fgh]bo mjh\gyo m`_ k_cqZk� gZ ihjh]_ XXI \_dZ� Ihgylb_
dmevlmju fbjZ \dexqZ_l \ k_[y p_euc jy^ p_gghkl_c� \a]ey^h\ b \b^h\ ih\_^_gby�
dhlhju_ hljZ`Zxl hij_^_e_ggu_ khpbZevgu_ hlghr_gby b kihkh[kl\mxl jZa\blbx
lZdbo hlghr_gbc� dhlhju_ kljhbebkv [u gZ ijbgpbiZo k\h[h^u� kijZ\_^eb\hklb b
^_fhdjZlbb� l_jibfhklb b kheb^Zjghklb� dhlhju_ hl\_j]Zeb [u gZkbeb_ b [ueb
gZijZ\e_gu gZ ij_^hl\jZs_gb_ dhgnebdlh\ iml_f mkljZg_gby bo ijbqbg� dhlhju_
j_rZeb [u ijh[e_fu iml_f ^bZeh]Z b i_j_]h\hjh\ b dhlhju_ ]ZjZglbjh\Zeb [u
dZ`^hfm \hafh`ghklv \ iheghc f_j_ ihevah\Zlvky k\hbfb ijZ\Zfb b Zdlb\gh
mqZkl\h\Zlv \ wg^h]_gghf jZa\blbb k\h_]h h[s_kl\Z��
�� AZ^ZqZ kh^_ckl\by kljhbl_evkl\m dmevlmju fbjZ gZklhevdh h[t_fgZ b k\yaZgZ k
lZdbfb ^Ze_dh b^msbfb ihke_^kl\byfb� qlh hgZ fh`_l [ulv j_r_gZ ebrv \ lhf
kemqZ_� _keb \ky kbkl_fZ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc b ]hkm^Zjkl\Z�qe_gu
khqlml __ h^gbf ba k\hbo ijbhjbl_lh\� <hl ihq_fm =_g_jZevgZy :kkZf[e_y \ k\h_c
j_ahexpbb ������ kh\_jr_ggh kijZ\_^eb\h ijhkbeZ ij_^klZ\blv _c g_ lhevdh ^hdeZ^ h
��� ?O��� - page �
^_yl_evghklb XG?KDH \ h[eZklb dmevlmju fbjZ� gh b we_f_glu ij_^\Zjbl_evgh]h
ijh_dlZ ^_deZjZpbb b ijh]jZffu ^_ckl\bc� < gb`_ke_^mxs_f ^hdeZ^_ ^Z_lky djZldh_
hibkZgb_ f_jhijbylbc XG?KDH� hkms_kl\e_gguo \ jZfdZo __ ljZgk^bkpbiebgZjgh]h
ijh_dlZ ³GZ imlb d dmevlmj_ fbjZ´� < i_j\mx hq_j_^v \ ^hdeZ^_ jZkkfZljb\Zxlky
f_jhijbylby� hkms_kl\ey\rb_ky \ ]eh[Zevghf fZkrlZ[_ \ k\yab k ljZ^bpbhgghc
aZ^Zq_c XG?KDH kihkh[kl\h\Zlv jZa\blbx h[jZah\Zgby \ p_eyo \aZbfhihgbfZgby
gZjh^h\� f_`^mgZjh^gh]h khljm^gbq_kl\Z b fbjZ� Z lZd`_ jZa\blby h[jZah\Zgby \
h[eZklb ijZ\ q_eh\_dZ b hkgh\guo k\h[h^� AZl_f jZkkfZljb\Zxlky f_jhijbylby�
hkms_kl\ey\rb_ky gZ gZpbhgZevghf mjh\g_� \ qZklghklb \ ihkldhgnebdlguo
kblmZpbyo� dh]^Z lZdb_ f_jhijbylby dhhj^bgbjh\Zebkv k fbjhl\hjq_kdbfb mkbebyfb
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� GZdhg_p� \ p_eyo ihegh]h \h\e_q_gby
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc \ j_r_gb_ wlhc aZ^Zqb \ ^hdeZ^_ ij_^klZ\e_gu
we_f_glu ij_^\Zjbl_evgh]h ijh_dlZ ^_deZjZpbb b ijh]jZffu ^_ckl\bc \ h[eZklb
dmevlmju fbjZ�
II. H;J:AH<:GB?� HKGH<GH? KJ?>KL<H KH>?CKL<BY DMEVLMJ?
FBJ:
�� Nmg^Zf_glZevgZy p_ev dmevlmju fbjZ � mdhj_gylv b^_x aZsblu fbjZ \ mfZo
fm`qbg b `_gsbg� Hkgh\guf kj_^kl\hf ^ey mdhj_g_gby lZdbo b^_c y\ey_lky
^_yl_evghklv \ h[eZklb h[jZah\Zgby� Hj]ZgbaZpby H[t_^bg_gguo GZpbc hij_^_ebeZ \
dZq_kl\_ h^ghc ba __ ]eZ\guo p_e_c kh^_ckl\b_ h[jZah\Zgbx ^ey \k_o� dh]^Z ^hklmi d
h[jZah\Zgbx ghkbl \k_h[sbc oZjZdl_j b dh]^Z h[jZah\Zgb_ kihkh[kl\m_l \aZbfh�
ihgbfZgbx� l_jibfhklb b ^jm`[_ kj_^b \k_o gZjh^h\� jZkh\uo beb j_eb]bhaguo
]jmii� Lhevdh lZdbf iml_f fh`gh mdj_iblv \k_ Zki_dlu [_ahiZkghklb q_eh\_q_kl\Z b
ihkljhblv dmevlmjm fbjZ�
�� H[jZah\Zgb_ \ p_eyo dmevlmju fbjZ \dexqZ_l g_ lhevdh nhjfZevgh_ h[jZah\Zgb_
\ rdheZo� gh lZd`_ g_hnbpbZevgh_ b g_nhjfZevgh_ h[jZah\Zgb_ \ jZfdZo p_eh]h djm]Z
khpbZevguo bgklblmlh\� \dexqZy k_fvx b kj_^kl\Z fZkkh\hc bgnhjfZpbb� DZd
hlf_qZehkv \ ^hdeZ^_� ih^]hlh\e_gghf ^ey XG?KDH F_`^mgZjh^ghc dhfbkkb_c ih
h[jZah\Zgbx ^ey ;;, \_dZ� p_ev aZdexqZ_lky \ lhf� qlh[u ³gZmqblvky `blv \f_kl_´��
:gZeh]bqguf h[jZahf \ ^hdeZ^_� ij_^klZ\e_gghf XG?KDH <k_fbjghc dhfbkkb_c ih
dmevlmj_ b jZa\blbx ]h\hjblky h lhf� qlh bf_ggh [eZ]h^Zjy dmevlmj_ fh`gh jZa\b\Zlv
jZaghh[jZagu_ b fbjgu_ imlb kh\f_klgh]h kms_kl\h\Zgby´��
:� Hkgh\gu_ ijbgpbiu \hkiblZgby \ ^mo_ fbjZ b ijZ\ q_eh\_dZ
�� GZ ijhly`_gbb jy^Z e_l hkgh\gu_ ijbgpbiu \hkiblZgby \ ^mo_ fbjZ b ijZ\
q_eh\_dZ [ueb hij_^_e_gu \h fgh]bo j_]eZf_glbjmxsbo ^hdmf_glZo� D gbf
hlghkblky� J_dhf_g^Zpby h \hkiblZgbb \ ^mo_ f_`^mgZjh^gh]h \aZbfhihgbfZgby�
khljm^gbq_kl\Z b fbjZ b \hkiblZgby \ ^mo_ m\Z`_gby ijZ\ q_eh\_dZ b hkgh\guo k\h[h^
�IZjb`� ���� ]��� <k_fbjguc ieZg ^_ckl\bc ih \hkiblZgbx \ ^mo_ ijZ\ q_eh\_dZ b
^_fhdjZlbb �Fhgj_Zev� ���� ]��� >_deZjZpby b Ijh]jZffZ ^_ckl\bc <k_fbjghc
dhgn_j_gpbb ih ijZ\Zf q_eh\_dZ �<_gZ� ���� ]��� >_deZjZpby b Dhfie_dkgu_ jZfdb
^_ckl\bc ih \hkiblZgbx \ ^mo_ fbjZ b ^_fhdjZlbb �IZjb`� ���� ]��� b IeZg ^_ckl\bc
gZ >_kylbe_lb_ h[jZah\Zgby \ h[eZklb ijZ\ q_eh\_dZ Hj]ZgbaZpbb H[t_^bg_gguo
GZpbc ���������� ]]��� Hkms_kl\e_gb_ wlbo ieZgh\ ^_ckl\bc y\ey_lky ij_^f_lhf
��� ?O��� - page �
\gbfZgby DhgkmevlZlb\gh]h dhfbl_lZ XG?KDH ih \hkiblZgbx \ ^mo_ fbjZ� ijZ\
q_eh\_dZ� ^_fhdjZlbb� f_`^mgZjh^gh]h \aZbfhihgbfZgby b l_jibfhklb�
�� >_deZjZpby b ieZg ^_ckl\bc Q_l\_jlhc \k_fbjghc dhgn_j_gpbb ih iheh`_gbx
`_gsbg �I_dbg� ���� ]�� b ^_yl_evghklv ih hkms_kl\e_gbx __ j_r_gbc
kihkh[kl\h\Zeb ijb\e_q_gbx \gbfZgby d qj_a\uqZcghc \Z`ghklb h[jZah\Zgby ^ey
ih\ur_gby jheb `_gsbg \ ijhp_kk_ kljhbl_evkl\Z fbjZ b ^ey ijbagZgby ]_g^_jguo
\hijhkh\� dhlhju_ g_h[oh^bfh j_rblv� qlh[u kha^Zlv dmevlmjm fbjZ� Dhfbkkby
WDHKHK ih iheh`_gbx `_gsbg ihk\ylbeZ k\hx khjhdh\mx k_kkbx \hijhkm
³i_j_oh^Z hl \hkiblZgby \ ^mo_ fbjZ d dmevlmj_ fbjZ´ b ³ihkljh_gbx dmevlmju fbjZ \
jZfdZo I_dbgkdhc ieZlnhjfu ^_ckl\bc´� < qZklghklb� Dhfbkkby mihfygmeZ h \u\h^Zo
kh\_sZgby ]jmiiu wdki_jlh\ XG?KDH ih \hijhkm� dZkZxs_fmky \deZ^Z `_gsbg \
dmevlmjm fbjZ �FZgbeZ� ���� ]��� dhlhjZy hdZaZeZ agZqbl_evgh_ kh^_ckl\b_ ijh\_^_gbx
<k_fbjghc dhgn_j_gpbb� XG?KDH hdZau\ZeZ Zdlb\gmx ih^^_j`dm wlhfm ijhp_kkm b
\ ihke_^g__ \j_fy ijbgbfZeZ mqZklb_ \ jZ[hl_ kh\_sZgby ]jmiiu wdki_jlh\
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih l_f_ ³Ijbgylb_ iheblbq_kdbo j_r_gbc b
mj_]mebjh\Zgb_ dhgnebdlh\� <ha^_ckl\b_ jZaebqbc f_`^m fm`qbgZfb b `_gsbgZfb´
�KZglh�>hfbg]h� ���� ]��� \ kh\_sZgbb ki_pbZevghc ]jmiiu wdki_jlh\ ih l_f_
³@_gsbgu \h ]eZ\_ [hjv[u aZ fbj´ �ChoZgg_k[mj]� ���� ]�� b \ IZgZnjbdZgkdhc
dhgn_j_gpbb ³Fbj� jhev fm`qbg b `_gsbg b jZa\blb_´ �Db]Zeb� ���� ]��� < k\yab k
wlbf \h \k_f fbj_ rbjblky ih^^_j`dZ ³AZy\e_gby h \deZ^_ `_gsbg \ ijh[e_fZlbdm
dmevlmju fbjZ´� dhlhjh_ [ueh ih^]hlh\e_gh ^ey Q_l\_jlhc \k_fbjghc dhgn_j_gpbb
ih iheh`_gbx `_gsbg�
<� >_yl_evghklv gZ ]eh[Zevghf mjh\g_
��� XG?KDH ijh^he`Z_l im[ebdh\Zlv b jZkijhkljZgylv gZ ]eh[Zevghf mjh\g_
h[jZah\Zl_evgu_ b kijZ\hqgu_ fZl_jbZeu gZ fgh]bo yaudZo� dhlhju_ kh^_ckl\mxl
dmevlmj_ fbjZ b kh[ex^_gbx ijZ\ q_eh\_dZ� < ijbeh`_gbb d gZklhys_fm ^hdeZ^m
gZoh^blky h[gh\e_gguc i_j_q_gv lZdbo fZl_jbZeh\�
��� Ki_pbZevgh_ \gbfZgb_ m^_ey_lky jheb mq_[gbdh\ dZd kj_^kl\m klZgh\e_gby
dmevlmju fbjZ� I_j\h_ ba gh\hc k_jbb aZieZgbjh\Zgguo bkke_^h\Zgbc� dZkZxs__ky
hljZ`_gby h[jZaZ ^jm]bo \ mq_[gbdZo� hkms_kl\eyehkv \ jZfdZo l_fZlbdb ³JZkkdZau
iZe_klbgkdbo [_`_gp_\ \ bajZbevkdbo b iZe_klbgkdbo mq_[gbdZo bklhjbb b
khpbheh]bb´� IeZgbjm_lky ijh\_klb ^jm]b_ bkke_^h\Zgby� dZkZxsb_ky mq_[gbdh\ ^ey
gZqZevguo b kj_^gbo rdhe� dhlhju_ bkihevamxlky \ [ZedZgkdbo kljZgZo� GZ
kh\_sZgbb ih \hkiblZgbx \ ^mo_ fbjZ� dhlhjh_ ijhoh^beh \ k_gly[j_ ���� ]� �Jbh�^_�
@Zg_cjh� b gZ dhgn_j_gpbb ih bklhjbb b dmevlmj_ fbjZ� ijhoh^b\r_c \ ghy[j_ ����
]� �DZjlZo_gZ� Dhemf[by� jZkkfZljb\Zebkv \hijhku h lhf� dZdbf h[jZahf baf_gblv
hjb_glZpbx mq_[guo fZl_jbZeh\ b mq_[guo ijh]jZff� ihklZ\b\ bo gZ kem`[m
ih^^_j`Zgby fbjZ� klZ[bevghklb b jZa\blby \ EZlbgkdhc :f_jbd_� GZ kh\_sZgbb \
DZjlZo_g_ [ueb ih^]hlh\e_gu j_dhf_g^Zpbb b \aylu h[yaZl_evkl\Z \ hlghr_gbb
hkms_kl\e_gby jy^Z f_jhijbylbc \ ���� ]�� bf_xsbo p_evx i_j_kfhlj mq_[gbdh\ \
EZlbgkdhc :f_jbd_� < gZklhys__ \j_fy ^\Z km[j_]bhgZevguo kh\_sZgby k mqZklb_f
j_^Zdlhjh\ b ba^Zl_e_c mq_[gbdh\ ih bklhjbb� Z lZd`_ ij_^klZ\bl_e_c ijZ\bl_evkl\Z
Dhemf[bb \ khljm^gbq_kl\_ k k_dj_lZjbZlhf Dhg\_gpbb ³:g^j_k ;_evh´ b :g^kdbf
iZdlhf jZajZ[Zlu\Zxl ijh_dl� \ dhlhjhf [m^_l ij_^klZ\e_gZ bklhjby EZlbgkdhc
:f_jbdb \ baeh`_gbb� kihkh[kl\mxs_f dmevlmj_ fbjZ�
��� ?O��� - page �
��� < p_eyo kh^_ckl\by f_`dmevlmjghfm \aZbfhihgbfZgbx� XG?KDH ]hlh\bl
fgh]hlhfgmx k_jbx dgb] ih bklhjbb� dhlhju_ ijheb\Zxl k\_l gZ jZa\blb_
q_eh\_q_kl\Z \h \k_c _]h keh`ghklb� Wlb mq_[gbdb iha\heyxl magZlv� qlh bklhjby � wlh
g_ lhevdh [bl\u b aZ\h_\Zgby� Kj_^b gZa\Zgbc mq_[gbdh\ _klv ke_^mxsb_� ³Bklhjby
q_eh\_q_kl\Z´� ³H[sZy bklhjby :njbdb´� ³Bklhjby pb\bebaZpbb P_gljZevghc :abb´�
³:ki_dlu bkeZfkdbo dmevlmj´� ³Bklhjby EZlbgkdhc :f_jbdb´� ³Bklhjby DZjb[kdh]h
[Zkk_cgZ´ b ³<deZ^ ZjZ[kdbo pb\bebaZpbc \ eZlbghZf_jbdZgkdmx dmevlmjm�
hkms_kl\eyxsbcky q_j_a Ibj_g_ckdbc ihemhkljh\´�
��� K fhf_glZ ihy\e_gby \ ���� ]� ^hdeZ^Z k_lv Kbkl_fu Zkkhpbbjh\Zgguo rdhe
XG?KDH �:KI� agZqbl_evgh jZkrbjbeZkv� ih khklhygbx gZ bxgv ���� ]� � ���
mqj_`^_gbc \ ��� kljZgZo ijbgbfZeb \ g_c mqZklb_ b gZqbgZeb mklZgZ\eb\Zlv f_`^m
kh[hc k\yav k ihfhsvx we_dljhgghc k_lb� < ihke_^g__ \j_fy [ueh gZqZlh
hkms_kl\e_gb_ ^\mo gh\uo hiulgh�ihdZaZl_evguo ijh_dlh\ k ihfhsvx j_]bhgZevguo
k_fbgZjh\� ijh_dl ih aZiZ^ghc qZklb Kj_^ba_fgh]h fhjy b ijh_dl :KI ³IZjlg_jkl\h�
kheb^Zjghklv�ihjh^g_gb_´� Bkoh^y ba j_amevlZlh\ k_fb km[j_]bhgZevguo ^_lkdbo
n_klb\Ze_c ih dmevlmj_ fbjZ� ijhoh^b\rbo \ ���� ]�� :KI ]hlh\bl ³gZ[hj fZl_jbZeh\
ih ijh[e_fZf fbjZ´� kh^_j`Zsbc rbjhdbc djm] beexkljbjh\Zgguo kijZ\hqguo
fZl_jbZeh\ \ h[eZklb h[jZah\Zgby ^ey jZ[hlu \ gZqZevguo deZkkZo rdheu�
��� >_eh fbjZ ihemqZ_l ih^^_j`dm [eZ]h^Zjy f_jhijbylbyf� kihkh[kl\mxsbf
yaudh\hfm jZaghh[jZabx� dhlhju_ hkms_kl\eyxlky Mgb\_jkbl_lkdhc k_lvx
EBG=<:I:DK \ iZjlg_jkl\_ k dZn_^jhc XG?KDH ih ebg]\bklbd_ \ Fhgk_� ;_ev]by�
H^gbf ba gZb[he__ \Z`guo ijh_dlh\ k_lb y\ey_lky ih^]hlh\dZ :leZkZ yaudh\ fbjZ�
Kj_^b __ ijh_dlh\ � ihimeyjbaZpby yaudZ dof_jh\ \ DZf[h^`_ \ khljm^gbq_kl\_ k
?\jhi_ckdbf khxahf b hkms_kl\e_gb_ gh\h]h ijh_dlZ ih ^\myauqghfm h[jZah\Zgbx \
P_gljZevghc :f_jbd_�
��� GZ mgb\_jkbl_lkdhf mjh\g_ dZn_^ju XG?KDH ih ijZ\Zf q_eh\_dZ� ^_fhdjZlbb
b fbjm hdZ`ml ih^^_j`dm dhfie_dkghc kbkl_f_ bkke_^h\Zgbc� ih^]hlh\d_ dZ^jh\ b
f_jhijbylbyf \ h[eZklb bgnhjfZpbb� Z lZd`_ [m^ml kh^_ckl\h\Zlv km[j_]bhgZevghfm
b j_]bhgZevghfm khljm^gbq_kl\m� < gZklhys__ \j_fy dZn_^ju [ueb mqj_`^_gu [he__
q_f \ �� kljZgZo :njbdb b ?\jhiu� \ ZjZ[kdbo ]hkm^Zjkl\Zo b EZlbgkdhc :f_jbd_�
;ueZ lZd`_ kha^ZgZ j_]bhgZevgZy k_lv \ EZlbgkdhc :f_jbd_ b DZjb[kdhf [Zkk_cg_� <
GbdZjZ]mZ _`_d\ZjlZevguc `mjgZe ³DmevlmjZ fbjZ´� dhlhjuc \uimkdZ_l ihebl_o�
gbq_kdbc mgb\_jkbl_l� y\ey_lky ijbf_jhf lh]h� dZd ZdZ^_fbq_kdb_ mqj_`^_gby fh]ml
rbjhdh ijhiZ]Zg^bjh\Zlv b^_Zeu b ^_ckl\by� gZijZ\e_ggu_ ijhlb\ gZkbeby beb
ijbqbg� e_`Zsbo \ _]h hkgh\_�
��� < fZjl_ ���� ]� [he__ �� mqj_`^_gbc� aZgbfZxsboky ijZ\Zfb q_eh\_dZ� b
dZn_^ju XG?KDH ih \hkiblZgbx \ ^mo_ ijZ\ q_eh\_dZ� ^_fhdjZlbb b fbjZ
ijbgbfZeb mqZklb_ \ _`_]h^ghf kh\_sZgbb ^bj_dlhjh\ mqj_`^_gbc� aZgbfZxsboky
ijZ\Zfb q_eh\_dZ� GZ kh\_sZgbb h[km`^Zebkv \hijhku \uiheg_gby gZ gZpbhgZevghf
mjh\g_ f_jhijbylbc \ jZfdZo >_kylbe_lby h[jZah\Zgby \ h[eZklb ijZ\ q_eh\_dZ
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ���������� ]]�� b _]h f_`^mgZjh^ghc dhhj^bgZpbb
<_joh\guf DhfbkkZjhf Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih ijZ\Zf q_eh\_dZ b
P_gljhf Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih ijZ\Zf q_eh\_dZ� ;ue \g_k_g jy^
ij_^eh`_gbc ih f_jhijbylbyf \ k\yab k ijZa^gh\Zgb_f ���c ]h^h\sbgu ijh\ha�
]eZr_gby <k_h[s_c ^_deZjZpbb ijZ\ q_eh\_dZ�
��� ?O��� - page �
��� Ij_fby XG?KDH aZ \hkiblZgb_ \ ^mo_ ijZ\ q_eh\_dZ aZ ���� ]� [ueZ \jmq_gZ
]�gm @Zgm�;_jljZgm :jbklb^m� [u\r_fm Ij_ab^_glm J_kim[ebdb =Zblb� Z ij_fby
XG?KDH aZ ���� ]� aZ \hkiblZgb_ \ ^mo_ fbjZ [ueZ ijbkm`^_gZ ]�`_ QbZj_ Em[bq
�BlZeby�� hkgh\Zl_ex b ij_ab^_glm ^\b`_gby ³NhdheZjb´� I_j\Zy ij_fby ³Fwju aZ
fbj´ \ j_]bhg_ EZlbgkdhc :f_jbdb b DZjb[kdh]h [Zkk_cgZ [ueZ ijbkm`^_gZ \ oh^_
f_`^mgZjh^gh]h dhg]j_kkZ ³=hjh^Z b h[jZah\Zgb_ \ ih^^_j`dm dmevlmju fbjZ´ �Jbh�
^_�@Zg_cjh� k_gly[jv ���� ]�� ]�`_ =ehjbb D\ZjlZk FhglhcZ� fwjm ]� :iZjlZ^h \
Dhemf[bb�
��� Fbj� dZd \ f_`^mgZjh^ghf� lZd b \ gZpbhgZevghf ieZg_ y\ey_lky h^gbf ba ijZ\
q_eh\_dZ� dZd wlh ke_^m_l ba j_dhf_g^Zpbb F_`^mgZjh^gh]h kh\_sZgby wdki_jlh\�
ijhoh^b\r_]h \ EZk�IZevfZk �BkiZgby� \ n_\jZe_ ���� ]�� gZ dhlhjhf [ueh
ij_^eh`_gh ih^]hlh\blv \ k\yab k wlbf ^_deZjZpbx� Bkoh^y ba wlh]h� kh\_sZgb_
ki_pbZebklh\ ih ijZ\Zf q_eh\_dZ� dhlhjh_ [ueh hj]Zgbah\Zgh Ghj\_`kdbf
bgklblmlhf ih ijZ\Zf q_eh\_dZ \ Hkeh \ bxg_ ���� ]�� jZajZ[hlZeh ijh_dl ^_deZjZpbb�
\ dhlhjhc jZkkfZljb\Zxlky ijZ\h gZ fbj� h[yaZgghklv kihkh[kl\h\Zlv _]h
ih^^_j`Zgbx b kljhbl_evkl\m� Z lZd`_ _]h k\yav k dmevlmjhc fbjZ� Ijh_dl ^_deZjZpbb
[m^_l ij_^klZ\e_g =_g_jZevghc dhgn_j_gpbb XG?KDH \ ���� ]� gZdZgmg_
ijZa^gh\Zgby
���c ]h^h\sbgu <k_h[s_c ^_deZjZpbb ijZ\ q_eh\_dZ�
��� Ba^Zl_eb b j_^Zdlhju ]Za_l \ EZlbgkdhc :f_jbd_� dhlhju_ \klj_qZebkv \
]� Imw[eZ �F_dkbdZ� \ fZ_ ���� ]�� j_dhf_g^h\Zeb ijh\ha]eZkblv F_`^mgZjh^guc ]h^
dmevlmju fbjZ� ?s_ h^gZ k\yaZggZy k wlbf bgbpbZlb\Z� ihemqb\rZy ih^^_j`dm
XG?KDH� [ueZ ij_^eh`_gZ gh[_e_\kdbfb eZmj_ZlZfb fbjZ� dhlhju_ h[jZlbebkv d
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc k ij_^eh`_gb_f ijh\ha]eZkblv i_j\h_ ^_kylbe_lb_
gh\h]h lukyq_e_lby ³>_kylbe_lb_f dmevlmju g_gZkbeby´ b gZqZlv _]h ³=h^hf
\hkiblZgby \ ^mo_ g_gZkbeby´�
��� < jZfdZo hkms_kl\e_gby Ijh]jZffu ^_ckl\bc \ ijh^he`_gb_ =h^Z Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc� ihk\ys_ggh]h l_jibfhklb ����� ]��� \ j_]bhg_ Kj_^ba_fgh]h b
Q_jgh]h fhj_c b :abZlkdh�Lbohhd_Zgkdhf j_]bhg_ [ueb mqj_`^_gu ^\_ i_j\u_
j_]bhgZevgu_ k_lb� ihk\ys_ggu_ ijhiZ]Zg^_ b^_Zeh\ l_jibfhklb� AZ^ZqZ wlbo k_l_c
aZdexqZ_lky \ lhf� qlh[u h[_ki_qblv k\yav gZpbhgZevguo dhfbkkbc� h[jZah\Zl_evguo
mqj_`^_gbc� GIH b j_]bhgZevguo hj]ZgbaZpbc \ p_eyo khljm^gbq_kl\Z ih
dhgdj_lguf f_jhijbylbyf b h[f_gZf� \dexqZxsbf im[ebdZpbx jZ[hlu ³DeZkkbdZ
l_jibfhklb´� Z lZd`_ f_`j_eb]bhaguc b f_`dmevlmjguc ^bZeh] b klbi_g^bb ^ey
fheh^uo bkke_^h\Zl_e_c� < F_`^mgZjh^guc ^_gv� ihk\ys_gguc l_jibfhklb� \ RlZ[�
d\Zjlbj_ XG?KDH ]jmii_ �� `_gkdbo g_ijZ\bl_evkl\_gguo hj]ZgbaZpbc JmZg^u
³L\_k_ OZf\_ \ aZsblm `_gsbg´ [ueZ ijbkm`^_gZ i_j\Zy ij_fby XG?KDH �
FZ^Zg^`blZ Kbg]o aZ ijhiZ]Zg^m b^_Zeh\ l_jibfhklb b g_gZkbeby�
��� < iZjlg_jkl\_ k Kh\_lhf ?\jhiu� ?\jhi_ckdhc dhfbkkb_c b ^jm]bfb
f_`ijZ\bl_evkl\_ggufb b g_ijZ\bl_evkl\_ggufb hj]ZgbaZpbyfb XG?KDH gZqZeZ
hkms_kl\e_gb_ \k_h[t_fexs_c ijh]jZffu ih hdZaZgbx ih^^_j`db ]jZ`^Zgkdhfm
h[jZah\Zgbx \ P_gljZevghc b <hklhqghc ?\jhi_� Ijh]jZffZ hibjZ_lky gZ
j_dhf_g^Zpbb� ih^]hlh\e_ggu_ Dhgn_j_gpb_c XG?KDH ih jZajZ[hld_ mq_[guo
ijh]jZff� ]jZ`^Zgkdh_ h[jZah\Zgb_ \ P_gljZevghc b <hklhqghc ?\jhi_� dhlhjZy [ueZ
hj]Zgbah\ZgZ XG?KDH \ <_g_ \ hdly[j_ ���� ]�� b gZ j_amevlZlu jZ[hlu jy^Z
khhl\_lkl\mxsbo dhgn_j_gpbc b mq_[gh�ijZdlbq_kdbo k_fbgZjh\� dhlhju_ ijhreb k
��� ?O��� - page �
l_o ihj \ Lmjdf_gbklZg_� :\kljbb� ;he]Zjbb� Wklhgbb� Ihevr_� =jmabb b Jhkkbckdhc
N_^_jZpbb� F_jhijbylby \dexqZxl im[ebdZpbx b jZkijhkljZg_gb_ mq_[gbdh\ b
ihkh[bc ^ey mqbl_e_c ih ]jZ`^Zgkdhfm h[jZah\Zgbx� k_fbgZju ih ih^]hlh\d_
ij_ih^Z\Zl_e_c� f_`rdhevgu_ ijh_dlu b \uimkd _`_g_^_evgh]h ijbeh`_gby ih
\hijhkZf ]jZ`^Zgkdh]h h[jZah\Zgby d ³Mqbl_evkdhc ]Za_l_´ gZ jmkkdhf yaud_�
gZkqblu\Zxs_c �� ��� ih^ibkqbdh\� [hevrbgkl\hf ba dhlhjuo y\eyxlky mqbl_ey�
��� < dZq_kl\_ ]eh[Zevgh]h ^\b`_gby dmevlmjZ fbjZ lZd`_ y\ey_lky \Z`ghc ^ey l_o�
dlh kem`bl \ Zjfbb� Bkoh^y ba j_amevlZlh\ jZ[hlu kh\_sZgby ���� ]� fbgbkljh\
h[hjhgu b klZjrbo \h_gguo hnbp_jh\ P_gljZevghZf_jbdZgkdh]h j_]bhgZ� XG?KDH
hdZau\Z_l ihfhsv \ kha^Zgbb [b[ebhl_db ^ey \h_gghkem`Zsbo b dZn_^ju ih dmevlmj_
fbjZ ^ey ih^]hlh\db hnbp_jh\ \ kn_j_ \hijhkh\� dZkZxsboky fbjZ b jZaj_r_gby
dhgnebdlh\� Ijb mqZklbb XG?KDH gZqZevgbdb rlZ[h\ \hhjm`_gguo kbe k_fb kljZg
AZiZ^ghc :njbdb� y\eyxsboky mqZklgbdZfb :G:> �>h]h\hjZ h g_gZiZ^_gbb b
hdZaZgbb ihfhsb \ h[eZklb h[hjhgu \ :njbd_� ihk\ylbeb h^gh ba ie_gZjguo
aZk_^Zgbc bo kh\_sZgby \ Zij_e_ ���� ]� dmevlmj_ fbjZ b h[jZlbebkv d XG?KDH k
ijhkv[hc hdZaZlv ihfhsv \ hj]ZgbaZpbb ih^]hlh\db \ h[eZklb ijZ\ q_eh\_dZ�
]mfZgblZjgh]h ijZ\Z� hojZgu hdjm`Zxs_c kj_^u� Z lZd`_ dmevlmjgh]h b ijbjh^gh]h
gZke_^by� < k\yab k wlbf =_g_jZevguc ^bj_dlhj XG?KDH \uklmibe gZ Dhgn_j_gpbb
ih ih^]hlh\d_ b h[jZah\Zgbx \ h[eZklb ijZ\ q_eh\_dZ \ \hhjm`_gguo kbeZo� dhlhjZy
[ueZ hj]Zgbah\ZgZ \ n_\jZe_ ���� ]� \ FZcZfb X`guf dhfZg^h\Zgb_f Kh_^bg_gguo
RlZlh\ :f_jbdb b F_`Zf_jbdZgkdbf bgklblmlhf ih ijZ\Zf q_eh\_dZ�
��� XG?KDH hdZaZeZ ih^^_j`dm ijh]jZff_ X]�X]� \ jZfdZo dhlhjhc ^_fh[beb�
ah\Zggu_ khe^Zlu ij_ih^Zxl ^jm]bf ^_fh[bebah\Zgguf khe^ZlZf mjhdb fbjZ� < wlhc
ijh]jZff_ mqZkl\mxl \_l_jZgu ba GbdZjZ]mZ� =\Zl_fZeu�FhaZf[bdZ b Abf[Z[\_�
K� >_yl_evghklv gZ gZpbhgZevghf mjh\g_
��� HibjZykv gZ k\hx Ijh]jZffm dmevlmju fbjZ�XG?KDH ih^dexqbeZkv d mkbebyf
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih j_r_gbx ijh[e_fu jZkijhkljZg_gby
gZkbevkl\_gguo dhgnebdlh\� dhlhju_ \hagbdeb ihke_ hdhgqZgby oheh^ghc \hcgu� b
hdZau\Z_l ihfhsv k\hbf ]hkm^Zjkl\Zf�qe_gZf \ ^_e_ hkms_kl\e_gby gZpbhgZevguo
ijh]jZff ih dmevlmj_ fbjZ b bgbpbZlb\� dhlhju_ kihkh[kl\mxl kljhbl_evkl\m fbjZ� <
l_o ijh]jZffZo� dhlhju_ hkms_kl\eyxlky \ KZev\Z^hj_� ;mjmg^b�FhaZf[bd_ b JmZg^_�
XG?KDH ijb\e_dZ_l [u\rbo mqZklgbdh\ dhgnebdlZ d kh\f_klghc ^_yl_evghklb \
h[eZklb ieZgbjh\Zgby� hkms_kl\e_gby b hp_gdb ijh_dlh\ ih jZa\blbx ex^kdbo
j_kmjkh\� ij_\jZsZy l_f kZfuf \jZ`^m \ khljm^gbq_kl\h� >_yl_evghklv gZ
gZpbhgZevghf mjh\g_ \h \k_ [hevr_c kl_i_gb hjb_glbjh\ZgZ gZ ij_^mij_`^_gb_
dhgnebdlh\� k\yaZgguo k gZkbeb_f� Z lZd`_ gZ kljhbl_evkl\h fbjZ ihke_ aZ\_jr_gby
dhgnebdlh\� < k\yab k wlbf \gbfZgb_ m^_ey_lky h[jZah\Zl_evguf f_jhijbylbyf dZd
nhjfZevgh]h� lZd b g_nhjfZevgh]h oZjZdl_jZ�
��� H[sbggh_ jZ^bh \ KZev\Z^hj_ i_j_^Z_l ijh]jZffm ´Buenos Tiempos Mujeres´�bgnhjfbjmy h ijZ\Zo `_gsbg b kihkh[kl\my jhklm khagZgby kj_^b `_gsbg k gbadbfb
^hoh^Zfb� < gZklhys__ \j_fy wlZ ijh]jZffZ i_j_^Z_lky �� klZgpbyfb b \dexq_gZ \
h[jZah\Zl_evgmx dZfiZgbx gZ gbah\hf mjh\g_� ijb\e_dZy ^h[jh\hevguo
ihimeyjbaZlhjh\ b^_c fbjZ ba h[sbg� BgbpbZlb\Z \ KZev\Z^hj_ k kZfh]h gZqZeZ [ueZ
kh\f_klguf gZqbgZgb_f XG?KDH ijb mqZklbb dZd ijZ\bl_evkl\_gguo fbgbkl_jkl\�
lZd b hj]ZgbaZpbc� ij_^klZ\eyxsbo jZaebqgu_ kehb ]jZ`^Zgkdh]h h[s_kl\Z�
��� ?O��� - page ��
��� < ;mjmg^b >hf dmevlmju fbjZ XG?KDH �hldjuluc \ ���� ]�� hkms_kl\ey_l
f_jhijbylby� \ jZfdZo dhlhjuo ij_^klZ\bl_eb \k_o keh_\ h[s_kl\Z mqZkl\mxl \
ijhp_kk_ \hkiblZgby \ ^mo_ fbjZ� ih^]hlh\db \ h[eZklb ^_fhdjZlbb b ijZ\ q_eh\_dZ� \
ihimeyjbaZpbb wlbo b^_c� >hf dmevlmju fbjZ XG?KDH hdZau\Z_l lZd`_ ih^^_j`dm
f_jhijbylbyf� hkms_kl\ey_fuf f_klgufb ZkkhpbZpbyfb� Hg l_kgh khljm^gbqZ_l k
rbjhdbf djm]hf mqj_`^_gbc Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� Z lZd`_ fgh]h�
klhjhggbfb b ^\mklhjhggbfb ^hghjZfb� < khk_^g_c JmZg^_ \hkiblZgb_ \ ^mo_ fbjZ b
ijZ\ q_eh\_dZ k\yaZgh k hdZaZgb_f ihfhsb \ ^_e_ bgl_]jZpbb \ha\jZsZxsboky ^_l_c
\ gZpbhgZevgmx rdhevgmx kbkl_fm�
��� < FhaZf[bd_ \ jZfdZo ijh]jZffu ih dmevlmj_ fbjZ ]hlh\ylky fZl_jbZeu�
dZkZxsb_ky h[jZah\Zgby b ih^]hlh\db dZ^jh\� Z lZd`_ jZ[hlu k ijb\e_q_gb_f jy^Z
iZjlg_jh\ ]jZ`^Zgkdh]h h[s_kl\Z� k l_f qlh[u ]hlh\blv ijhiZ]Zg^bklh\ b^_Zeh\
fbjZ� gZqbgZy hl `mjgZebklh\ b hj]ZgbaZpbc� ^_ckl\mxsbo \ h[eZklb ijZ\ q_eh\_dZ b
aZdZgqb\Zy \ha\jZsZxsbfbky [_`_gpZfb b hj]ZgbaZpbyfb ^_fh[bebah\Zgguo khe^Zl�
Ih ijhkv[_ Ij_ab^_glZ FhaZf[bdZ XG?KDH [m^_l hdZau\Zlv ihfhsv \ hj]ZgbaZpbb
dhgn_j_gpbc ih dmevlmj_ fbjZ b \hijhkZf mijZ\e_gby \ k_gly[j_ ���� ]�
��� IjbgbfZy \h \gbfZgb_ ijhkv[m� ihklmib\rmx hl Ij_ab^_glZ FZeb� XG?KDH gZ
kh\f_klghc hkgh\_ hj]Zgbah\ZeZ nhjmf ih dmevlmj_ fbjZ �fZjl ���� ]��� ijb mqZklbb
ij_^klZ\bl_e_c ijZ\bl_evkl\Z� IJHHG b >_iZjlZf_glZ ih iheblbq_kdbf \hijhkZf�
Nhjmf ijbgye ³>_deZjZpbx ;ZfZdh´ \ ih^^_j`dm fbjZ b ih^]hlh\be j_dhf_g^Zpbb�
dZkZxsb_ky ^_fhdjZlbq_kdbo ijbgpbih\ mijZ\e_gby b ijZ\ q_eh\_dZ� wg^h]_gguo
hkgh\ dmevlmju fbjZ \ FZeb b \hkiblZgby \ ^mo_ fbjZ� Z lZd`_ jheb jZaebqguo keh_\
h[s_kl\Z� < Dhl ^‘B\mZj XG?KDH hdZau\ZeZ l_ogbq_kdmx b nbgZgkh\mx ihfhsv
gZpbhgZevghc dhfbkkbb ih ^_eZf XG?KDH \ ^_e_ hj]ZgbaZpbb km[j_]bhgZevgh]h
kh\_sZgby ih l_f_� ³Dhgnebdlu b dmevlmjZ fbjZ \ :njbd_´� \ dhlhjhf ijbgbfZeb
mqZklb_ ij_^klZ\bl_eb kljZg AZiZ^ghc :njbdb� Kh\_sZgb_� ijhr_^r__ iha^g__ \
ghy[j_ ���� ]� \ :[b^`Zg_� j_dhf_g^h\Zeh� \ qZklghklb� kha^Zlv dZn_^jm XG?KDH
ih dmevlmj_ fbjZ�
��� LZd`_ \ :njbd_� bkoh^y ba ijhkv[u ijZ\bl_evkl\Z b Dhgljhevghc fbkkbb
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc \ :g]he_ �MG:<?F III �� XG?KDH hdZau\ZeZ
ihfhsv \ jZa\_jlu\Zgbb h[jZah\Zl_evghc dZfiZgbb ih ijb\e_q_gbx \gbfZgby wlhc
kljZgu d \Z`ghklb m\Z`_gby ijZ\ q_eh\_dZ b klZgh\e_gby dmevlmju fbjZ�
>_yl_evghklv ih ihimeyjbaZpbb dmevlmju fbjZ� hkms_kl\ey_fZy ih ijhkv[_
kh\_sZgby ij_^klZ\bl_e_c jZaebqguo ]jmii khfZebckdh]h h[s_kl\Z� hkgh\u\Z_lky gZ
hiul_ Ijh]jZffu XG?KDH \ h[eZklb h[jZah\Zgby� dZkZxs_fky qj_a\uqZcguo
kblmZpbc b \hkklZgh\e_gby �I??J�� \ jZfdZo dhlhjhc \ l_q_gb_ ihke_^gbo e_l
h[_ki_qb\Zehkv h[jZah\Zgb_ khfZebckdbo [_`_gp_\ b i_j_f_s_ggh]h gZk_e_gby�
��� Fbjgh_ kh]eZr_gb_� ih^ibkZggh_ \ =\Zl_fZe_ \ ���� ]�� ij_^mkfZljb\Z_l hkh[mx
hl\_lkl\_gghklv XG?KDH \ ^_e_ hdZaZgby ih^^_j`db b ijh^he`_gby nmgdpbh�
gbjh\Zgby kbkl_f h[jZah\Zgby� kha^Zgguo f_klguf gZk_e_gb_f \ lh \j_fy� dh]^Z hgb
ihdbgmeb k\h_ f_klh `bl_evkl\Z b klZeb i_j_f_s_ggufb ebpZfb� < =Zblb XG?KDH
ijh\h^bl k\hx ^_yl_evghklv kh\f_klgh k ijZ\bl_evkl\_ggufb hj]ZgZfb b mqj_`^_�
gbyfb Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� hdZau\Zy kh^_ckl\b_ jZa\blbx dmevlmju
fbjZ \ jZfdZo ijh_dlh\ h[sbggh]h jZ^bh� < gZklhys__ \j_fy lZd`_ kh\f_klgh k
F_`^mgZjh^ghc dhfbkkb_c H:=�HHG \ =Zblb hkms_kl\ey_lky hjb_glbjh\ZggZy gZ
��� ?O��� - page ��
fheh^_`v b h[sbggu_ hj]ZgbaZpbb ih^]hlh\dZ ki_pbZebklh\ \ h[eZklb jZaj_r_gby
dhgnebdlh\�
��� GZ NbebiibgZo \ dhgl_dkl_ gZpbhgZevghc ijh]jZffu ih dmevlmj_ fbjZ� dhlhjhc
XG?KDH hdZau\Z_l ihfhsv� b \ jZa\blb_ bklhjbq_kdh]h fbjgh]h kh]eZr_gby�
ih^ibkZggh]h \ k_gly[j_ ���� ]� f_`^m IjZ\bl_evkl\hf Nbebiibg b GZpbhgZevguf
njhglhf hk\h[h`^_gby Fhjh \ fmkmevfZgkdhc qZklb h� Fbg^ZgZh� Ij_ab^_gl mqj_^be
jZ[hqmx ]jmiim ih kha^Zgbx P_gljZ ih dmevlmj_ fbjZ gZ NbebiibgZo� Ih ijhkv[_
Ij_ab^_glZ Rjb�EZgdb XG?KDH hdZau\Z_l ih^^_j`dm ijh]jZff_� \dexqZxs_c
\hkiblZgb_ \ ^mo_ fbjZ b mj_]mebjh\Zgb_ dhgnebdlh\ \ p_eyo kh^_ckl\by dmevlmj_
fbjZ gZ h[sbgghf mjh\g_ \ k_\_jghc qZklb wlhc kljZgu�
��� XG?KDH lZd`_ [ueZ gZa\ZgZ \ dZq_kl\_ \_^ms_]h mqj_`^_gby \ jZfdZo Hkh[hc
h[s_kbkl_fghc bgbpbZlb\u HHG ih :njbd_ ih^ gZa\Zgb_f ³DhffmgbdZpby gZ
kem`[_ kljhbl_evkl\Z fbjZ´� <gbfZgb_ m^_ey_lky jZa\blbx f_klgh]h ihl_gpbZeZ \
h[eZklb kj_^kl\ bgnhjfZpbb b dhffmgbdZpbb� hdZaZgbx l_ogbq_kdbo
dhgkmevlZlb\guo mkem] b jZkijhkljZg_gbx jZ^bhijh]jZff� ih^]hlh\e_gguo gZ
f_klghf mjh\g_� WlZ bgbpbZlb\Z ^hihegy_l jZ[hlm� \_^msmxky XG?KDH ih mkbe_gbx
g_aZ\bkbfuo kj_^kl\ bgnhjfZpbb \ JmZg^_ b ;mjmg^b� \ dhlhjuo [ueb kha^Zgu ^hfZ
i_qZlb ^ey hdZaZgby l_ogbq_kdhc b fhjZevghc ih^^_j`db ki_pbZebklZf� jZ[hlZxsbf
\ kn_j_ kj_^kl\ bgnhjfZpbb \ km[j_]bhg_� < [u\r_c X]hkeZ\bb XG?KDH
ijh^he`Z_l \uklmiZlv \ dZq_kl\_ \_^ms_]h mqj_`^_gby kbkl_fu Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc ih hdZaZgbx ihfhsb g_aZ\bkbfuf kj_^kl\Zf bgnhjfZpbb \
l_q_gb_ i_jbh^Z \hkklZgh\e_gby�
��� Ijh^he`Z_lky hkms_kl\e_gb_ f_jhijbylbc ih dmevlmj_ fbjZ \ P_gljZevghc b
<hklhqghc ?\jhi_ b P_gljZevghc :abb \ jZfdZo F_`^mgZjh^gh]h nhjmfZ ³AZ
kheb^Zjghklv ijhlb\ g_l_jibfhklb� aZ ^bZeh] dmevlmj´ �L[bebkb� ���� ]��� XG?KDH
hdZau\Z_l ihfhsv \ kha^Zgbb L[bebkkdh]h f_`^mgZjh^gh]h p_gljZ ^bZeh]Z f_`^m
dmevlmjZfb fbjZ b l_jibfhklb b P_gljZevghZabZlkdh]h p_gljZ ih ij_^mij_`^_gbx
dhgnebdlh\ �Duj]uakdZy J_kim[ebdZ�� dhlhju_ [m^ml ijh^\b]Zlv ^_eh fbjZ b b^_Zeu
l_jibfhklb \ wlbo j_]bhgZo� =hlh\blky i_j\uc \uimkd gh\h]h _`_d\ZjlZevgh]h
`mjgZeZ ³<hkiblZgb_ \ ^mo_ dmevlmju fbjZ b b^_Zeh\ l_jibfhklb b ij_^mij_`^_gb_
dhgnebdlh\ \ P_gljZevghc :abb´� < Jhkkbckdhc N_^_jZpbb lZd`_ kha^Z_lky k_lv
khljm^gbqZxsbo h[jZah\Zl_evguo b ZdZ^_fbq_kdbo mqj_`^_gbc ih \hijhkZf dmevlmju
fbjZ�
III � G: IMLB D ;M>MS?FM
��� KljmdlmjZ ljZgk^bkpbiebgZjgh]h ijh_dlZ XG?KDH ³GZ imlb d dmevlmj_ fbjZ´
[m^_l baf_g_gZ b mkbe_gZ \ khhl\_lkl\bb k ij_^eh`_gbyfb� ij_^klZ\e_ggufb
Bkihegbl_evguf kh\_lhf Hj]ZgbaZpbb ^\Z^pZlv ^_\ylhc k_kkbb =_g_jZevghc
dhgn_j_gpbb� dhlhjZy khklhblky \ hdly[j_ ���� ]� Mkbeby b j_kmjku [m^ml
kdhgp_gljbjh\Zgu ]eZ\guf h[jZahf \ ih^jZa^_e_gbb� aZgbfZxs_fky \hijhkZfb
h[jZah\Zgby b ih^]hlh\db \ p_eyo h[_ki_q_gby fbjZ� ijZ\ q_eh\_dZ� ^_fhdjZlbb�
l_jibfhklb b ihgbfZgby f_`^m gZjh^Zfb� < djm] _]h h[yaZgghkl_c [m^ml \oh^blv
jZajZ[hldZ b jZkijhkljZg_gb_ mq_[guo fZl_jbZeh\ b ihkh[bc ^ey mqbl_e_c gZ
jZaebqguo yaudZo� Ij_^eZ]Z_lky lZd`_ kha^Zlv ^\Z ^jm]bo ih^jZa^_e_gby� h^gh [m^_l
aZgbfZlvky bkke_^h\Zgbyfb \hijhkh\ iheblbdb� ijhiZ]Zg^bklkdbfb f_jhijbylbyfb�
��� ?O��� - page ��
h[f_ghf b jZkijhkljZg_gb_f bgnhjfZpbb� Z ^jm]h_ � kha^Zgb_f ihl_gpbZeZ b
h[_ki_q_gb_f l_ogbq_kdhc ih^^_j`db gZpbhgZevguo� km[j_]bhgZevguo� j_]bhgZevguo
b f_`^mgZjh^guo ijh_dlh\�
��� IjbagZ\Zy g_h[oh^bfhklv jZa\blby ]eh[Zevgh]h ^\b`_gby� XG?KDH hl^Z_l
ijbhjbl_l jZa\blbx iZjlg_jkdbo hlghr_gbc \ h[eZklb dmevlmju fbjZ k ^jm]bfb
f_`ijZ\bl_evkl\_ggufb� ijZ\bl_evkl\_ggufb b g_ijZ\bl_evkl\_ggufb hj]ZgbaZpby�
fb� \dexqZy jZ[hlgbdh\ h[jZah\Zgby� `mjgZebklh\� iZjeZf_glZjb_\ b fwjh\�
j_eb]bhagu_ khh[s_kl\Z b `_gkdb_ hj]ZgbaZpbb� \uklmiZxsb_ aZ fbj b
^_fbeblZjbaZpbx� Fgh]b_ ba wlbo iZjlg_jh\ m`_ [ueb mihfygmlu \ ij_^u^msbo
jZa^_eZo ^hdeZ^Z�
��� XG?KDH [m^_l b \ij_^v ijh^he`Zlv b]jZlv k\hx jhev \ kh^_ckl\bb
kljhbl_evkl\m dmevlmju fbjZ� hkh[_ggh \ lZdhc \Z`g_cr_c h[eZklb __ ^_yl_evghklb�
dZd h[jZah\Zgb_� H^gZdh wlZ aZ^ZqZ fh`_l [ulv mki_rgh j_r_gZ ebrv \ lhf kemqZ_�
_keb kZfZ Hj]ZgbaZpby H[t_^bg_gguo GZpbc \ha]eZ\bl wlm ^_yl_evghklv� H^gh]h
h[jZah\Zgby g_^hklZlhqgh� G_h[oh^bfu mqZklb_ \k_o ijZ\bl_evkl\� Z lZd`_ baf_g_gb_
bo iheblbdb b j_Zevguo ^_ckl\bc� Kljhbl_evkl\m dmevlmju fbjZ fh]ml \ agZqbl_evghc
f_j_ kh^_ckl\h\Zlv g_ijZ\bl_evkl\_ggu_ mqj_`^_gby b hl^_evgu_ ebpZ� ijb wlhf
\Z`gmx jhev ^he`gu b]jZlv fgh]hgZpbhgZevgu_ wdhghfbq_kdb_ kljmdlmju� H^gZdh \
dhg_qghf blh]_ \hijhk h lhf� klZg_l eb XXI \_d \_dhf dmevlmju fbjZ b hldZaZ hl
gZkbeby� [m^_l aZ\bk_lv hl fbjh\haaj_gby� \a]ey^h\ b ih\_^_gby gZjh^h\�
��� Bf_ggh \ wlhf dhgl_dkl_ b ij_^klZ\e_gu \ gZklhys_f ^hdeZ^_ Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc b __ ]hkm^Zjkl\Zf�qe_gZf we_f_glu ij_^\Zjbl_evgh]h ijh_dlZ
^_deZjZpbb b ijh]jZffu ^_ckl\bc \ h[eZklb dmevlmju fbjZ� Gb`_ke_^mxsb_
iheh`_gby ij_^klZ\eyxl kh[hc i_j\mx ihiuldm knhjfmebjh\Zlv� kh[jZlv \h_^bgh b
kljmdlmjbjh\Zlv we_f_glu� dhlhju_ g_ y\eyxlky hdhgqZl_evgufb b fh]ml� \ kemqZ_
g_h[oh^bfhklb� [ulv memqr_gu� Ihke_ h[km`^_gby b jZkkfhlj_gby ]hkm^Zjkl\Zfb�
qe_gZfb hgb fh]ml klZlv qZklvx hdhgqZl_evgh]h l_dklZ ^_deZjZpbb b ijh]jZffu
^_ckl\bc�
IV. WE?F?GLU IJ?><:JBL?EVGH=H IJH?DL: >?DE:J:PBB
HJ=:GBA:PBB H;T?>BG?GGUO G:PBC H DMEVLMJ? FBJ:
:� Ij_Zf[meZ
��� Ij_Zf[meZ fh]eZ [u gZqbgZlvky kh kkuehd gZ gZ^e_`Zsb_ iheh`_gby MklZ\Z
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc b MklZ\Z XG?KDH� lZdbo� gZijbf_j� dZd ³Fu�
gZjh^u H[t_^bg_gguo GZpbc� ij_bkiheg_ggu_ j_rbfhklb ba[Z\blv ]jy^msb_
ihdhe_gby hl [_^kl\bc \hcgu� ��� \gh\v ml\_j^blv \_jm \ hkgh\gu_ ijZ\Z q_eh\_dZ� \
^hklhbgkl\h b p_gghklv q_eh\_q_kdhc ebqghklb� \ jZ\ghijZ\b_ fm`qbg b `_gsbg b \
jZ\_gkl\h ijZ\ [hevrbo b fZeuo gZpbc� ��� kh^_ckl\h\Zlv khpbZevghfm ijh]j_kkm b
memqr_gbx mkeh\bc `bagb ijb [hevr_c k\h[h^_� ��� ijhy\eylv l_jibfhklv b `blv
\f_kl_� \ fbj_ ^jm] k ^jm]hf� dZd ^h[ju_ khk_^b ���´�� Z lZd`_ ba MklZ\Z XG?KDH
³��� fukeb h \hcg_ \hagbdZxl \ mfZo ex^_c� ihwlhfm \ khagZgbb ex^_c ke_^m_l
mdhj_gylv b^_x aZsblu fbjZ� ��� fbj� hkgh\Zgguc ebrv gZ wdhghfbq_kdbo b
iheblbq_kdbo kh]eZr_gbyo ijZ\bl_evkl\� g_ kfh`_l aZ\h_\Zlv _^bgh^mrghc� ijhqghc
��� ?O��� - page ��
b bkdj_gg_c ih^^_j`db gZjh^h\� hg ^he`_g [Zabjh\Zlvky gZ bgl_ee_dlmZevghc b
gjZ\kl\_gghc kheb^Zjghklb q_eh\_q_kl\Z���´��
��� HgZ fh]eZ [u lZd`_ kkueZlvky gZ iheh`_gby <k_h[s_c ^_deZjZpbb ijZ\
q_eh\_dZ� \ qZklghklb� ³DZ`^uc q_eh\_d bf__l ijZ\h gZ `bagv� gZ k\h[h^m b gZ
ebqgmx g_ijbdhkgh\_gghklv´�� ��� ³DZ`^uc q_eh\_d bf__l ijZ\h gZ k\h[h^m m[_`^_gbc
b gZ k\h[h^gh_ \ujZ`_gb_ bo� wlh ijZ\h \dexqZ_l k\h[h^m [_kij_iylkl\_ggh
ijb^_j`b\Zlvky k\hbo m[_`^_gbc b k\h[h^m bkdZlv� ihemqZlv b jZkijhkljZgylv
bgnhjfZpbx b b^_b ex[ufb kj_^kl\Zfb b g_aZ\bkbfh hl ]hkm^Zjkl\_gguo ]jZgbp´���
³DZ`^uc q_eh\_d bf__l ijZ\h gZ h[jZah\Zgb_��� H[jZah\Zgb_ ^he`gh [ulv gZijZ\e_gh
d iheghfm jZa\blbx q_eh\_q_kdhc ebqghklb b d m\_ebq_gbx m\Z`_gby d ijZ\Zf
q_eh\_dZ b hkgh\guf k\h[h^Zf� H[jZah\Zgb_ ^he`gh kh^_ckl\h\Zlv
\aZbfhihgbfZgbx� l_jibfhklb b ^jm`[_ f_`^m \k_fb gZjh^Zfb� jZkh\ufb beb
j_eb]bhagufb ]jmiiZfb b ^he`gh kh^_ckl\h\Zlv ^_yl_evghklb Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc ih ih^^_j`Zgbx fbjZ´���
��� Djhf_ lh]h� fh`gh [ueh [u \dexqblv kkuedb b gZ ^jm]b_ f_`^mgZjh^gu_
^hdmf_glu Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� bf_xsb_ hlghr_gb_ d ^Zgghc
ijh[e_f_� G_kdhevdh ^jm]bo imgdlh\ ij_Zf[meu fh]eb [u kh^_j`Zlv kkuedb gZ
ke_^mxs__�
��� < khhl\_lkl\bb k K_\bevkdhc ^_deZjZpb_c h gZkbebb� dhlhjZy [ueZ rbjhdh
jZkijhkljZg_gZ ih j_r_gbx ^\Z^pZlv iylhc k_kkbb =_g_jZevghc dhgn_j_gpbb
XG?KDH ����� ]��� k gZmqghc lhqdb aj_gby g_dhjj_dlgh ]h\hjblv� qlh \hcgZ
]_g_lbq_kdb aZijh]jZffbjh\ZgZ \ ijbjh^_ q_eh\_dZ b qlh ³\b^� dhlhjuc bah[j_e
\hcgm� \ khklhygbb bah[j_klb b fbj´���
��� K hdhgqZgb_f oheh^ghc \hcgu hldjuebkv gh\u_ i_jki_dlb\u ^ey f_`^m�
gZjh^gh]h fbjZ b [_ahiZkghklb� khljm^gbq_kl\Z b ihgbfZgby f_`^m gZjh^Zfb� Z lZd`_
^ey kh^_ckl\by m\Z`_gbx ijZ\ q_eh\_dZ b ^_fhdjZlbq_kdbo ijbgpbih\ dZd \
f_`^mgZjh^guo hlghr_gbyo� lZd b \ hlghr_gbyo \gmljb ]hkm^Zjkl\�
��� =jZ`^Zgkdbc fbj b [_ahiZkghklv gZoh^ylky ih^ m]jhahc \ j_amevlZl_
kh\hdmigh]h \ha^_ckl\by jZaebqguo nhjf gZkbeby b dhgnebdlh\ f_`^m wlgbq_kdbfb�
j_eb]bhagufb� yaudh\ufb b ^jm]bfb ]jmiiZfb� jhklZ dk_ghnh[bb b Z]j_kkb\gh]h
gZpbhgZebafZ� jZagh]h jh^Z nZgZlbafZ b nmg^Zf_glZebafZ� l_jjhjbafZ b
hj]Zgbah\Zgghc ij_klmighklb� hllhj`_gby b ^bkdjbfbgZpbb mya\bfuo ]jmii \gmljb
h[s_kl\Z� dhlhju_ hkgh\Zgu gZ ijbgpbiZo dmevlmju gZkbeby b \hcgu�
��� < gZr_f \k_ [he__ \aZbfhaZ\bkbfhf fbj_ m]jhau ]jZ`^Zgkdhfm fbjm b
[_ahiZkghklb gZ ex[hf mjh\g_ ijb\h^yl d k_jv_aguf ihke_^kl\byf gZ ^jm]hf mjh\g_�
ihwlhfm fbj g_h[oh^bfh hlklZb\Zlv k h^bgZdh\ufb wglmabZafhf b wg_j]b_c dZd gZ
f_`^mgZjh^ghf� lZd b gZ gZpbhgZevghf mjh\gyo�
��� Fbj ke_^m_l jZkkfZljb\Zlv g_ dZd hlkmlkl\b_ jZagh]eZkbc b dhgnebdlh\� Z dZd
ihablb\guc b ^_fhdjZlbq_kdbc ijhp_kk� \ dhlhjuc \h\e_q_gu \k_ b dhlhjuc
g_jZaju\gh k\yaZg k ^_fhdjZlb_c� kijZ\_^eb\hklvx b jZa\blb_f ^ey \k_o� Ijb lZdhf
ih^oh^_ d jZaebqbyf hlghkylky k m\Z`_gb_f� ihhsjy_lky ^bZeh]� Z g_gZkbevkl\_ggu_
^_ckl\by ij_\jZsZxl dhgnebdlu \ gh\u_ \hafh`ghklb ^ey \aZbfhihgbfZgby b
khljm^gbq_kl\Z�
��� ?O��� - page ��
��� AZ^ZqZ bkdhj_g_gby \hcgu� dhlhjZy ^he`gZ hklZ\Zlvky gZrbf ]eZ\guf
ijbhjbl_lhf� ihkdhevdm k_]h^gy hgZ y\ey_lky _s_ [hevrbf [_^kl\b_f� q_f \q_jZ�
lj_[m_l baf_g_gby g_ lhevdh \h_gguo kljmdlmj b ^hdljbg� gh b ]em[hdbo
ij_h[jZah\Zgbc kZfhc dmevlmju� ij_\jZs_gby dmevlmju gZkbeby b \hcgu \ dmevlmjm
fbjZ�
��� Fh`gh khkeZlvky gZ j_ahexpbx �� K����� =_g_jZevghc dhgn_j_gpbb XG?KDH�
\ dhlhjhc ]h\hjblky� qlh g_h[oh^bfh ³h[_ki_qblv gZqZeh i_j_oh^Z hl dmevlmju \hcgu
d ��� dmevlmj_ fbjZ´���
<� AgZq_gb_ b agZqbfhklv dmevlmju fbjZ
��� < wlhl jZa^_e ^_deZjZpbb fh`gh [ueh [u \dexqblv ke_^mxsb_ we_f_glu�
��� DmevlmjZ fbjZ� hkgh\ZggZy gZ kZfhf rbjhdhf b ihablb\ghf ihgbfZgbb fbjZ�
y\ey_lky dhfie_dkhf p_gghkl_c� \a]ey^h\� ljZ^bpbc� \b^h\ ih\_^_gby b h[jZaZ `bagb�
dhlhju_ hljZ`Zxl b ihhsjyxl�
� m\Z`_gb_ d `bagb� ex^yf b bo ijZ\Zf�
� hldZa hl ex[uo nhjf ijhy\e_gby gZkbeby�
� ijbagZgb_ jZ\guo ijZ\ b \hafh`ghkl_c fm`qbg b `_gsbg�
� ijbagZgb_ ijZ\Z dZ`^h]h gZ k\h[h^m \ujZ`_gby fg_gbc b ihemq_gb_
bgnhjfZpbb�
� ijb\_j`_gghklv ijbgpbiZf ^_fhdjZlbb� k\h[h^u� kijZ\_^eb\hklb� l_jibfhklb�
kheb^Zjghklb b iexjZebafZ� l_jibfh_ hlghr_gb_ d jZaebqbyf� Z lZd`_ d
kh]eZkbx f_`^m gZjh^Zfb� wlgbq_kdbfb� j_eb]bhagufb� dmevlmjgufb b ^jm]bfb
]jmiiZfb b f_`^m hl^_evgufb ex^vfb�
� ijb\_j`_gghklv ijbgpbiZf khpbZevgh hjb_glbjh\Zggh]h h[s_kl\Z� dhlhjh_
hojZgy_l ijZ\Z keZ[uo iml_f ijbgylby ihke_^h\Zl_evguo b ^he]hkjhqguo f_j�
gZijZ\e_gguo gZ jZa\blb_ h[s_kl\Z� hkgh\Zggh]h gZ ijbgpbiZo \aZbfghc
ih^^_j`db�
��� DmevlmjZ fbjZ g_ y\ey_lky \k_]h ebrv p_evx� d ^hklb`_gbx dhlhjhc gZ^h
klj_fblvky� HgZ y\ey_lky lZd`_ \k_h[t_fexsbf ijhp_kkhf ]em[hdbo ij_h[jZah\Zgbc
b ^he]hkjhqguo ^_ckl\bc� gZijZ\e_gguo gZ mdhj_g_gb_ \ khagZgbb ex^_c b^_b
aZsblu fbjZ� DmevlmjZ fbjZ � wlh i_j_oh^ hl eh]bdb kbeu b kljZoZ d kbe_ jZamfZ b
ex[\b� HgZ y\ey_lky hkgh\hc ^ey ]eh[Zevgh]h hkms_kl\e_gby ijZ\Z q_eh\_dZ gZ fbj�
��� DmevlmjZ fbjZ � wlh ijhp_kk� dhlhjuc \ul_dZ_l ba \haaj_gbc b ^_ckl\bc kZfbo
ex^_c b jZa\b\Z_lky \ dZ`^hc kljZg_ \ __ dhgdj_lguo bklhjbq_kdbo� khpbZevguo�
dmevlmjguo b wdhghfbq_kdbo mkeh\byo� Dexq d dmevlmj_ fbjZ e_`bl \ ij_\jZs_gbb
`_klhdhc dhgdmj_gpbb \ khljm^gbq_kl\h� hkgh\Zggh_ gZ h[sbo p_gghklyo b p_eyo� <
qZklghklb� dmevlmjZ fbjZ lj_[m_l� qlh[u dhgnebdlmxsb_ klhjhgu khh[sZ klj_fbebkv
d ^hklb`_gbx p_e_c� ij_^klZ\eyxsbo h[sbc bgl_j_k gZ \k_o mjh\gyo� \dexqZy b
ijhp_kk jZa\blby�
��� ?O��� - page ��
��� GZ gZrbo ]eZaZo m`_ ijhbkoh^bl ij_\jZs_gb_ dmevlmju \hcgu b gZkbeby \
dmevlmjm fbjZ b hldZaZ hl gZkbeby� KZfh kha^Zgb_ kbkl_fu Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc� hkgh\Zgghc gZ jZa^_ey_fuo \k_fb p_gghklyo b p_eyo� klZeh
djmiguf rZ]hf gZ imlb d dmevlmj_ fbjZ�F_`^mgZjh^gu_ ^hdmf_glu� ijbgylu_ ih^ __
w]b^hc� Z lZd`_ ^_deZjZpbb b ieZgu ^_ckl\bc� h^h[j_ggu_ __ g_^Z\gbfb \k_fbjgufb
dhgn_j_gpbyfb� k\b^_l_evkl\mxl h lhf� qlh \k_ [hevr_ ex^_c klZgh\ylky
ijb\_j`_ggufb h[sbf ghjfZf� p_gghklyf b p_eyf� b wlh ^he`gh klZlv hkgh\hc ^ey
^Zevg_cr_]h jZa\blby dhgp_ipbb dmevlmju fbjZ�
��� Wlb ghjfu� p_gghklb b p_eb khklZ\eyxl hkgh\m h[s_ijbagZgguo wlbq_kdbo ghjf
b ihdZau\Zxl� qlh� \ kmsghklb� fgh]b_ ba \Z`g_crbo p_gghkl_c y\eyxlky h[sbfb ^ey
\k_o h[s_kl\ k \_ebdbfb wlbq_kdbfb ljZ^bpbyfb b qlh g_ kms_kl\m_l ]em[hdhc
ijhiZklb f_`^m p_gghklyfb� jZa^_ey_fufb jZaebqgufb ]jmiiZfb kljZg� f_`^m
K_\_jhf b X]hf� <hklhdhf b AZiZ^hf� Kljhbl_evkl\h dmevlmju fbjZ ^_ckl\bl_evgh
y\ey_lky aZ^Zq_c� lj_[mxs_c mqZklby dZ`^h]h ]hkm^Zjkl\Z \ ^mo_ jZ\_gkl\Z b _^bgkl\Z�
��� < [ukljh b ]em[hdh f_gyxs_fky fbj_� oZjZdl_jbamxs_fky jZklmsbf agZq_gb_f
wlbq_kdbo ijh[e_f� dmevlmjZ fbjZ ^Z_l fheh^hfm ihdhe_gbx p_euc gZ[hj p_gghkl_c�
dhlhju_ fh]ml ihfhqv _fm kljhblv k\hx ^Zevg_crmx `bagv b Zdlb\gh mqZkl\h\Zlv \
kljhbl_evkl\_ [he__ kijZ\_^eb\h]h� ]mfZggh]h� k\h[h^gh]h b ijhp\_lZxs_]h
h[s_kl\Z b [he__ kh\_jr_ggh]h fbjZ [_a \hcg b gZkbeby�
K� Hkgh\gu_ kn_ju b ]eZ\gu_ mqZklgbdb ^_yl_evghklb�
gZijZ\e_gghc gZ kh^_ckl\b_ kljhbl_evkl\m dmevlmju fbjZ
��� AZdexqbl_evguc jZa^_e ^_deZjZpbb fh] [u \dexqZlv \ k_[y ke_^mxsb_
iheh`_gby�
��� AZ^ZqZ ihkljh_gby dmevlmju fbjZ lj_[m_l \k_klhjhggbo ^_ckl\bc \ h[eZklb
h[jZah\Zgby� dmevlmju b khpbZevgh]h jZa\blby� \ oh^_ dhlhjuo dZ`^uc q_eh\_d
mqbeky [u q_fm�gb[m^v b qlh�lh hl^Z\Ze� WlZ ijh[e_fZ dZkZ_lky ex^_c \k_o \hajZklh\
b ]jmii� Wlh hldjulZy� ]eh[ZevgZy kljZl_]by� bf_xsZy dhgdj_lgmx p_ev � k^_eZlv lZd�
qlh[u dmevlmjZ fbjZ [ueZ g_hl^_ebfZ hl dmevlmju \hh[s_ b qlh[u hgZ ]em[hdh
mdhj_gbeZkv \ k_j^pZo b mfZo ex^_c�
��� =hkm^Zjkl\h� dhlhjh_ g_k_l ]eZ\gmx hl\_lkl\_gghklv aZ h[_ki_q_gb_ m\Z`_gby b
aZsblu ijZ\ q_eh\_dZ b hkgh\guo k\h[h^� ^he`gh b]jZlv hq_gv \Z`gmx jhev \
kha^Zgbb b mdj_ie_gbb� \ khljm^gbq_kl\_ kh \k_fb iZjlg_jZfb ]jZ`^Zgkdh]h
h[s_kl\Z� mkeh\bc b ij_^ihkuehd ^ey jZa\blby dmevlmju fbjZ�
��� H[jZah\Zgb_� \ kZfhf rbjhdhf kfuke_� y\ey_lky ]eZ\guf bgkljmf_glhf mkbebc
ih kljhbl_evkl\m dmevlmju fbjZ� G_h[oh^bfh bkihevah\Zlv \k_ Zki_dlu h[jZah\Zgby �
kh^_j`Zgb_� f_lh^u� hj]ZgbaZpbx� hlghr_gby f_`^m Z^fbgbkljZlhjZfb� jZ[hlgbdZfb
h[jZah\Zgby b mqZsbfbky� f_`^m mq_[gufb aZ\_^_gbyfb b k_fvyfb� h[sbgZfb b
fbjhf ljm^Z�
��� =jZ`^Zgkdh_ h[s_kl\h� \dexqZy ex^_c� aZgbfZxsboky j_r_gb_f _]h
iheblbq_kdbo� wdhghfbq_kdbo� khpbZevguo b dmevlmjguo ijh[e_f� ^he`gh [ulv
iheghklvx \h\e_q_gh \ ^_yl_evghklv� gZijZ\e_ggmx gZ ml\_j`^_gb_ ^_fhdjZlbq_kdbo
��� ?O��� - page ��
ijbgpbih\ b ]Zjfhgbb \ hlghr_gbyo f_`^m h[s_kl\hf� q_eh\_dhf b hdjm`Zxs_c
kj_^hc� qlh y\ey_lky hkgh\hc dmevlmju fbjZ�
��� Kj_^kl\Z fZkkh\hc bgnhjfZpbb ijba\Zgu b]jZlv hkh[mx jhev� ihkdhevdm�
ihfbfh k\h_c fhsghc ijhk\_lbl_evkdhc jheb� hgb b]jZxl lZd`_ \Z`gmx jhev \
h[_ki_q_gbb k\h[h^u fg_gbc� \ujZ`_gby b ihemq_gby bgnhjfZpbb� qlh y\ey_lky
\Z`guf nZdlhjhf� kh^_ckl\mxsbf mdj_ie_gbx fbjZ b f_`^mgZjh^gh]h \aZbfh�
ihgbfZgby b kljhbl_evkl\m dmevlmju fbjZ�
��� I_j\hkl_i_ggZy jhev \ kljhbl_evkl\_ dmevlmju fbjZ ijbgZ^e_`bl l_f� qvy
^_yl_evghklv hdZau\Z_l ijyfh_ b fgh]hh[jZagh_ \ha^_ckl\b_ gZ mfu ex^_c� Wlh� \
qZklghklb� iheblbq_kdb_ eb^_ju� qe_gu ijZ\bl_evkl\� iZjeZf_glh\ b ^jm]bo
\u[hjguo hj]Zgh\� ij_ih^Z\Zl_eb \k_o klmi_g_c kbkl_fu h[jZah\Zgby� Z lZd`_ l_� dlh
aZgbfZ_lky g_nhjfZevguf h[jZah\Zgb_f ^_l_c b \ajhkeuo� `mjgZebklu�
ij_^klZ\bl_eb k\h[h^guo ijhn_kkbc \ p_ehf� j_eb]bhagu_ eb^_ju� mijZ\e_gpu
jZaebqguo mjh\g_c� g_ijZ\bl_evkl\_ggu_ hj]ZgbaZpbb� hkh[_ggh `_gkdb_ b
fheh^_`gu_� G_h[oh^bfh mdj_ieylv iZjlg_jkdb_ k\yab kh \k_fb wlbfb ]jmiiZfb�
ihkdhevdm lZdb_ k\yab agZqbl_evgh ih\urZxl wnn_dlb\ghklv bo ^_ckl\bc�
��� JZa\blb_ f_`^mgZjh^gh]h khljm^gbq_kl\Z gZ hkgh\_ ijbgpbih\� baeh`_gguo \
MklZ\_ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc b mklZ\Zo ki_pbZebabjh\Zgguo mqj_`^_gbc
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� b jZkijhkljZg_gb_ bo gZ gh\u_ \b^u b h[eZklb
^_yl_evghklb y\ey_lky \Z`guf kj_^kl\hf ^ey ml\_j`^_gby p_gghkl_c b ghjf�
hljZ`Zxsbo dmevlmjm fbjZ b kihkh[kl\mxsbo jZkijhkljZg_gbx __ b^_c�
��� >ey j_r_gby aZ^Zq [ukljh f_gyxs_]hky fbjZ g_h[oh^bfh b ^Ze__ jZkrbjylv
iheghfhqby kbkl_fu Hj]ZgbaZpbb H[t_^bg_gguo GZpbc \ ^_e_ ij_^hl\jZs_gby
dhgnebdlh\� hdZaZgby dhgkmevlZlb\ghc ihfhsb \ j_r_gbb \hijhkh\� k\yaZgguo k
ij_^hl\jZs_gb_f dhgnebdlh\� b \ kZfhf jZaj_r_gbb dhgnebdlh\� Z lZd`_ \
ml\_j`^_gbb p_gghkl_c dmevlmju fbjZ� qlh ^he`gh klZlv h^gbf ba ]eZ\guo
gZijZ\e_gbc j_nhjfu wlhc Hj]ZgbaZpbb�
V� WE?F?GLU IJH?DL: <J?F?GGHC IJH=J:FFU >?CKL<BC
IH DMEVLMJ? FBJ: HJ=:GBA:PBB H;T?>BG?GGUO G:PBC
��� I_j_oh^ hl dmevlmju \hcgu b gZkbeby d dmevlmj_ fbjZ b g_gZkbeby � wlh ijhp_kk�
dhlhjuc� ijhy\eyykv \ bgbpbZlb\Zo� ij_^ijbgbfZ_fuo gZ jZaguo mjh\gyo� m`_ b^_l \
gZrb ^gb� dh]^Z fu \klmiZ_f \ XXI \_d� <hcgZ b dmevlmjZ \hcgu \k_ [hevr_
\hkijbgbfZxlky dZd g_qlh mklZj_\r__� k ^jm]hc klhjhgu� rbjblky djm] ex^_c�
hkhagZxsbo� qlh \eZklv� hkgh\ZggZy gZ m\Z`_gbb ijZ\ q_eh\_dZ� rbjhdhf mqZklbb \
`bagb h[s_kl\Z� dhgk_gkmk_ b g_gZkbevkl\_gguo khpbZevguo ij_h[jZah\Zgbyo�
wnn_dlb\g__ \eZklb� hibjZxs_cky gZ kbem b gZkbeb_� < jZfdZo g_^Z\gbo bgbpbZlb\�
knhjfmebjh\Zgguo \ kbkl_f_ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� \ lhf qbke_ gZ jy^_
ijh\_^_gguo _x \k_fbjguo dhgn_j_gpbc� m`_ [ueb gZf_q_gu ieZgu ^_ckl\bc�
gZijZ\e_ggu_ gZ ^hklb`_gb_ p_e_c dmevlmju fbjZ� gZijbf_j� \ h[eZklb ijZ\ q_eh\_dZ
�<_gkdZy dhgn_j_gpby�� mklhcqb\h]h q_eh\_q_kdh]h jZa\blby �dhgn_j_gpbb \ Jbh�^_�
@Zg_cjh b Dhi_g]Z]_g_� b jZ\_gkl\Z iheh\ �I_dbgkdZy dhgn_j_gpby�� P_ev
jZkkfZljb\Z_fh]h ieZgZ ^_ckl\bc khklhbl \ lhf� qlh[u� hibjZykv gZ \ur_mdZaZggu_
bgbpbZlb\u� jZajZ[hlZlv ihke_^h\Zl_evgmx kljZl_]bx nhjfbjh\Zgby dmevlmju fbjZ�
��� ?O��� - page ��
��� ;m^mqb hl\_lhf gZ gZjZklZgb_ jZaebqguo gZkbevkl\_gguo dhgnebdlh\ \ jZaguo
qZklyo fbjZ� mkbeby ih \hkiblZgbx dmevlmju fbjZ gZijZ\e_gu ijhlb\ dhjg_c
gZkbeby� bf_y \ \b^m kZfh ij_^hl\jZs_gb_ _]h \hagbdgh\_gby� < hlebqb_ hl
\f_rZl_evkl\Z ihke_ lh]h� dZd gZkbeb_ m`_ k\_jrbehkv� b hl ihke_^mxsbo mkbebc ih
kljhbl_evkl\m fbjZ \ ihkldhgnebdlguo mkeh\byo ij_^hl\jZs_gb_ gZkbevkl\_gguo
dhgnebdlh\ � [he__ ]mfZgguc b [he__ wnn_dlb\guc ih^oh^� GZ mjh\g_ hl^_evgh]h
q_eh\_dZ hg gZp_e_g gZ nhjfbjh\Zgb_ p_gghkl_c� \a]ey^h\ b nhjf ih\_^_gby� GZ
mjh\g_ ]hkm^Zjkl\Z Zdp_gl ^_eZ_lky gZ gZ^e_`Zsbo f_lh^Zo mijZ\e_gby� hkgh\Zgguo
gZ kijZ\_^eb\hklb� ^_fhdjZlbq_kdhf mqZklbb \ `bagb h[s_kl\Z b rbjhdhf mqZklbb
ex^_c \ ijhp_kk_ jZa\blby�
��� Gb`_ke_^mxsb_ iheh`_gby ij_^eh`_gu \ dZq_kl\_ i_j\hgZqZevguo rZ]h\ \
^bZeh]_� \ oh^_ dhlhjh]h ]hkm^Zjkl\Z�qe_gu� dZd h`b^Z_lky� \uklmiyl k ^hiheg_gbyfb
b baf_g_gbyfb� dhlhju_ ihkem`Zl klbfmehf b hihjhc ^ey Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc \ __ mkbebyo� gZijZ\e_gguo gZ lh� qlh[u dmevlmjZ \hcgu [ueZ
aZf_g_gZ dmevlmjhc fbjZ�
:� P_eb
��� Ijh]jZffZ ij_h[jZah\Zgby dmevlmju \hcgu b gZkbeby \ dmevlmjm fbjZ
ij_^iheZ]Z_l hloh^ dZd hl^_evguo ]jZ`^Zg� lZd b bgklblmlh\ h[s_kl\Z hl l_o
p_gghkl_c� \a]ey^h\ b nhjf ih\_^_gby� dhlhju_ [ueb knhjfbjh\Zgu mkeh\byfb
\hcgu b gZkbeby b [ueb gZijZ\e_gu gZ bo ih^^_j`dm� bo i_j_hjb_glZpby p_gghklb�
\a]ey^u b nhjfu ih\_^_gby� kh^_ckl\mxsb_ g_gZkbevkl\_gguf khpbZevguf
i_j_f_gZf b kijZ\_^eb\hklb�
��� I_j_oh^ l_hjbb b ijZdlbdb \eZklb hl gZkbeby b kbeu d g_gZkbebx b m\Z`_gbx
ijZ\ q_eh\_dZ � \hl \ q_f kmlv klZgh\e_gby dmevlmju fbjZ� >ey wlh]h g_h[oh^bfu
]eh[Zevgu_ mkbeby \ h[eZklb h[jZah\Zgby b ih^]hlh\db dZ^jh\ ih^ w]b^hc
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� dhlhju_ iha\heyl \hhjm`blv ex^_c gZ \k_o
mjh\gyo gZ\udZfb kljhbl_evkl\Z fbjZ� \_^_gby ^bZeh]Z� m\Z`_gby ijZ\ q_eh\_dZ�
ihkj_^gbq_kl\Z� mj_]mebjh\Zgby dhgnebdlh\� nhjfbjh\Zgby dhgk_gkmkZ b khljm^�
gbq_kl\Z� WlZ jZ[hlZ ^he`gZ hkgh\u\Zlvky gZ mgb\_jkZevguo ijbgpbiZo ijZ\
q_eh\_dZ� ^_fhdjZlbb b khpbZevghc kijZ\_^eb\hklb b \ lh `_ \j_fy hibjZlvky gZ
kZfh[ulguc hiul b ljZ^bpbb dZ`^h]h h[s_kl\Z \ h[eZklb kljhbl_evkl\Z fbjZ�
��� >ey lh]h qlh[u ^h[blvky g_jZaju\ghc k\yab f_`^m fbjhf b kijZ\_^eb\hklvx�
[_a dhlhjhc ijhqguc fbj g_\hafh`_g� gZ kf_gm oZjZdl_jguf ^ey dmevlmju \hcgu
Z\lhjblZjguf kljmdlmjZf b wdkiemZlZpbb ^he`gu ijbclb ^_fhdjZlbq_kdh_ mqZklb_ \
`bagb h[s_kl\Z b mklhcqb\h_ q_eh\_q_kdh_ jZa\blb_ ^ey \k_o� DZd [ueh aZy\e_gh gZ
<k_fbjghc \klj_q_ gZ \ukr_f mjh\g_ \ bgl_j_kZo khpbZevgh]h jZa\blby �Dhi_g]Z]_g�
���� ]��� khpbZevgh_ jZa\blb_ b khpbZevgZy kijZ\_^eb\hklv y\eyxlky g_h[oh^bfufb
mkeh\byfb ^hklb`_gby b ih^^_j`Zgby fbjZ b [_ahiZkghklb dZd \gmljb gZpbc� lZd b \
hlghr_gbyo f_`^m gbfb� < k\hx hq_j_^v� khpbZevgh_ jZa\blb_ b khpbZevgZy
kijZ\_^eb\hklv g_^hklb`bfu ijb hlkmlkl\bb fbjZ b [_ahiZkghklb� jZ\gh dZd b ijb
hlkmlkl\bb m\Z`_gby \k_o ijZ\ q_eh\_dZ b hkgh\guo k\h[h^��� JZa\blb_ g_evay ijhklh
hlh`^_kl\eylv k h[sbf wdhghfbq_kdbf jhklhf lhc beb bghc kljZgu � d _]h hp_gd_
g_h[oh^bfh ih^oh^blv k lhqdb aj_gby q_eh\_dZ� G_h[oh^bfh ^Zlv ex^yf \hafh`ghklv
\ iheghc f_j_ mqZkl\h\Zlv \ hij_^_e_gbb p_e_c b jZajZ[hld_ ijh]jZff jZa\blby�
��� ?O��� - page ��
jZ[hl_ ih hkms_kl\e_gbx b hp_gd_ ihemqZ_fuo j_amevlZlh\� k l_f qlh[u lZdb_
ijh]jZffu ijbghkbeb ihevam \k_f���
��� DZd [ueh ijbagZgh gZ <k_fbjghc dhgn_j_gpbb Hj]ZgbaZpbc H[t_^bg_gguo
GZpbc ih iheh`_gbx `_gsbg �I_dbg� ���� ]��� kms_kl\m_l g_jZaju\gZy k\yav f_`^m
fbjhf� k h^ghc klhjhgu� b jZ\_gkl\hf fm`qbg b `_gsbg � k ^jm]hc��� AZf_gblv
bklhjbq_kdb keh`b\rmxky \aZbfhk\yav \hcgu b g_jZ\_gkl\Z f_`^m fm`qbgZfb b
`_gsbgZfb� dhlhjZy \k_]^Z [ueZ oZjZdl_jgZ ^ey dmevlmju \hcgu� fh`_l lhevdh
\aZbfhk\yav jZ\_gkl\Z� jZa\blby b fbjZ� DZd mdZau\Zehkv gZ Dhgn_j_gpbb�
g_h[oh^bfh jZkrbjylv ^hklmi `_gsbg d iheblbq_kdbf b wdhghfbq_kdbf
\hafh`ghklyf b bo Z^_d\Zlgh_ ij_^klZ\bl_evkl\h gZ \k_o mjh\gyo ijbgylby j_r_gbc�
qlh klZg_l \Z`g_crbf \deZ^hf \ nhjfbjh\Zgb_ dmevlmju fbjZ�
��� K\h[h^Z fg_gbc� \ujZ`_gby b bgnhjfZpbb� dhlhjZy ijbagZgZ \ dZq_kl\_
g_hlt_fe_fh]h we_f_glZ ijZ\ q_eh\_dZ b hkgh\guo k\h[h^��� y\ey_lky `bag_ggh
\Z`guf nZdlhjhf mdj_ie_gby fbjZ b f_`^mgZjh^gh]h \aZbfhihgbfZgby� G_h[oh^bfh
ihdhgqblv k k_dj_lghklvx b fZgbimeypb_c bgnhjfZpb_c� ijbkmsbfb dmevlmj_ \hcgu�
< wlhf ^_e_� k lhqdb aj_gby ihkljh_gby dmevlmju fbjZ� fhsguf khxagbdhf fh]ml
klZlv kj_^kl\Z bgnhjfZpbb� ;eZ]h^Zjy l_ogbq_kdbf ^hklb`_gbyf \ h[eZklb kj_^kl\
bgnhjfZpbb b bo \k_ijhgbdZxs_fm jZa\blbx dZ`^uc q_eh\_d ihemqbe \hafh`ghklv
mqZkl\h\Zlv \ l\hj_gbb bklhjbb� qlh \i_j\u_ kha^Z_l ihq\m ^ey ih^ebggh ]eh[Zevgh]h
^\b`_gby \ ih^^_j`dm dmevlmju fbjZ� <f_kl_ k l_f� kj_^kl\Z bgnhjfZpbb ihjhc
bkihevamxlky \h \j_^� ^ey kha^Zgby b rbjhdh]h \g_^j_gby h[jZaZ \jZ]Z� ijbau\h\ d
gZkbebx b ^Z`_ ]_ghpb^m \ hlghr_gbb hl^_evguo wlgbq_kdbo beb gZpbhgZevguo
]jmii� Z lZd`_ ^ey ^_fhgkljZpbb b \hko\Ze_gby \k_\hafh`guo nhjf gZkbeby�
GZ[ex^Z_lky lZd`_ jhkl k_dj_lghklb� dhlhjmx hijZ\^u\Zxl khh[jZ`_gbyfb
³gZpbhgZevghc [_ahiZkghklb´ b ³wdhghfbq_kdhc dhgdmj_glhkihkh[ghklb´� ohly gZ
^_e_ \ \hijhkZo mijZ\e_gby b ijbgylby j_r_gbc ih wdhghfbq_kdbf \hijhkZf
lj_[m_lky [hevr_ ljZgkiZj_glghklb� Ihwlhfm ke_^m_l ijbgylv f_ju ih ^hklb`_gbx
\ur_mdZaZgguo p_e_c� dhlhju_ iha\hebeb [u kj_^kl\Zf bgnhjfZpbb j_Zebah\Zlv
k\hb ihablb\gu_ \hafh`ghklb ih jZkijhkljZg_gbx \Z`g_cr_c bgnhjfZpbb b
ijhiZ]Zg^_ k ihfhsvx kbkl_fu dhffmgbdZpbc k rbjhdbf djm]hf mqZklgbdh\�
p_gghkl_c� \a]ey^h\ b nhjf ih\_^_gby� ijbkmsbo dmevlmj_ fbjZ�
��� < bklhjbb _s_ g_ [ueh \hcgu [_a ³\jZ]Z´� qlh[u ba`blv \hcgm� gZ kf_gm h[jZam
\jZ]Z ^he`gu ijbclb b^_Zeu \aZbfhihgbfZgby� l_jibfhklb b kheb^Zjghklb f_`^m
\k_fb gZjh^Zfb b dmevlmjZfb� Lhevdh dh]^Z fu ijhgbdg_fky m\Z`_gb_f dh \k_fm
fgh]hp\_lbx gZr_]h fgh]hh[jZaby� d k\yau\Zxsbf gZk h[sbf gblyf q_eh\_q_kdbo
gZ^_`^ b khpbZevghc kheb^Zjghklb� lhevdh h[_ki_qb\ kijZ\_^eb\hklv b [_ahiZkghklv
^ey \k_o� dlh y\ey_lky qZklvx wlh]h fgh]hh[jZaby� fu kfh`_f k iheguf hkgh\Zgb_f
]h\hjblv h lhf� qlh fu khab^Z_f dmevlmjm fbjZ� Ihwlhfm g_h[oh^bfh ih^l\_j^blv
ijb\_j`_gghklv mkbebyf� h dhlhjuo [ueh aZy\e_gh \ >_deZjZpbb ijbgpbih\
l_jibfhklb �IZjb`� ���� ]��� b ^jm]bf mkbebyf \ ih^^_j`dm ³bgl_ee_dlmZevghc b
gjZ\kl\_gghc kheb^Zjghklb´� dhlhju_� dZd ijh\ha]eZr_gh \ MklZ\_ XG?KDH�
y\eyxlky _^bgkl\_gghc gZ^_`ghc hkgh\hc fbjZ�
<� KljZl_]by
��� IhklZgh\dZ \hijhkZ h kljhbl_evkl\_ dmevlmju fbjZ \ dZq_kl\_ p_gljZevghc
aZ^Zqb \ ih\_kld_ ^gy Hj]ZgbaZpbb H[t_^bg_gguo GZpbc iha\hebeZ [u ^\b]Zlvky \
��� ?O��� - page ��
gZijZ\e_gbb nhjfbjh\Zgby Zlfhkn_ju ih^ebggh]h jZ\_gkl\Z b _^bgkl\Z f_`^m \k_fb
]hkm^Zjkl\Zfb�qe_gZfb� K\hc g_fZeuc \deZ^ \ wlm jZ[hlm fh]eh [u \g_klb dZ`^h_ ba
]hkm^Zjkl\� dZd [hevrbo� lZd b fZeuo� ihkdhevdm \k_ hgb gZdhibeb [h]Zlu_ ljZ^bpbb
b f_lh^u� kh^_ckl\mxsb_ nhjfbjh\Zgbx dmevlmju fbjZ� lZdb_� gZijbf_j� dZd
g_gZkbevkl\_ggh_ mj_]mebjh\Zgb_ dhgnebdlh\� ^_fhdjZlbq_kdh_ mqZklb_ \ `bagb
h[s_kl\Z� h[f_g agZgbyfb b j_kmjkZfb� \aZbfhihgbfZgb_ b kheb^Zjghklv f_`^m
jZaebqgufb dmevlmjgufb ]jmiiZfb� <f_kl_ k l_f� dZ`^hc kljZg_ ij_^klhbl mkljZgblv
hij_^_e_ggu_ ijh[e_fu� k l_f qlh[u \a]ey^u� ih^oh^u b ijZdlbdZ� ijbkmsb_
dmevlmj_ \hcgu� mklmibeb f_klh \a]ey^Zf� ih^oh^Zf b ijZdlbd_ oZjZdl_jguf ^ey
dmevlmju fbjZ� DZ`^h_ ]hkm^Zjkl\h lhevdh \ub]jZ_l hl ml\_j`^_gby dmevlmju fbjZ
dZd \ ij_^_eZo k\hbo ]jZgbp� lZd b \ hlghr_gbyo k ^jm]bfb kljZgZfb�
��� F_`^m Hj]ZgbaZpb_c H[t_^bg_gguo GZpbc b lukyqZfb ^jm]bo f_`ijZ\b�
l_evkl\_gguo b g_ijZ\bl_evkl\_gguo hj]ZgbaZpbc� Z lZd`_ hl^_evgufb ebpZfb� qvb
mkbeby \ghkyl \deZ^ \ dmevlmjm fbjZ� fh]ml [ulv mklZgh\e_gu gh\u_ b
kh^_j`Zl_evgu_ hlghr_gby iZjlg_jkl\Z� Ihfh]Zy m\yaZlv \h_^bgh mkbeby \k_o wlbo
jZaghh[jZaguo hj]ZgbaZpbc b ebp� Hj]ZgbaZpby H[t_^bg_gguo GZpbc kihkh[gZ
klbfmebjh\Zlv ]eh[Zevgh_ ^\b`_gb_� bklhqgbdhf kbeu dhlhjh]h [ueb [u
fgh]hqbke_ggu_ mki_rgu_ ijbf_ju g_gZkbevkl\_gguo khpbZevguo i_j_f_g� dhlhju_
fgh`bebkv gZ ijhly`_gbb XX klhe_lby� Hkh[uc Zdp_gl fh`gh k^_eZlv gZ \h\e_q_gbb\ ^\b`_gb_ `_gsbg b fheh^_`b� qlh [ueh [u kha\mqgh ijbgylhc \ I_dbg_ IeZlnhjf_
^_ckl\bc b <k_fbjghc ijh]jZff_ ^_ckl\bc� dZkZxs_cky fheh^_`b� ^h ���� ]� b gZ
ihke_^mxsbc i_jbh^�
��� < \hijhkZo dmevlmju fbjZ ij_^klhbl knhjfbjh\Zlv ³\lhjbqgmx ]jZfhlghklv´ �
³gZmdm `blv \f_kl_´ gZ lhc hkgh\_� dhlhjZy m`_ aZeh`_gZ ³i_j\bqghc ]jZfhlghklvx´�
h[_ki_qb\Z_fhc [Zah\uf h[jZah\Zgb_f� Ihwlhfm ^hklb`_gb_ p_eb \k_h[s_c
]jZfhlghklb \ kfuke_ h[jZah\Zgby ^ey \k_o� h q_f ]h\hjblky \ >`hflv_gkdhc
^_deZjZpbb� y\ey_lky g_h[oh^bfhc hkgh\hc b ^hihegbl_evghc aZ^Zq_c ^ey ^hklb`_gby
p_e_c dmevlmju fbjZ� \\b^m q_]h ^_yl_evghklv b ih lhfm b ih ^jm]hfm gZijZ\e_gbx
^he`gZ ghkblv kdhhj^bgbjh\Zgguc b kbg_j]bq_kdbc oZjZdl_j��� Hkh[h \Z`gh_
agZq_gb_ bf__l ijh\_^_gb_ f_`^mgZjh^ghc dZfiZgbb \ aZsblm ijZ\Z `_gsbg b
^_\mr_d gZ h[jZah\Zgb_�
��� Mkbeby ih kljhbl_evkl\m dmevlmju fbjZ ^hihegyxl \k_ ^jm]b_ ^_ckl\by \
bgl_j_kZo fbjZ� ij_^ijbgbfZ_fu_ kbkl_fhc Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
\dexqZy fbjgmx ^biehfZlbx� ih^^_j`Zgb_ fbjZ� jZahjm`_gb_ b wdhghfbq_kdmx
dhg\_jkbx� ke_^h\Zl_evgh� qlh[u k^_eZlv bo \aZbfgh ih^dj_ieyxsbfb� g_h[oh^bfh
h[_ki_qblv bo gZ^e_`Zsmx dhhj^bgZpbx� WdhghfbdZ \hcgu ^he`gZ [ulv
ij_h[jZah\ZgZ \ wdhghfbdm fbjZ� Fu g_ fh`_f iha\heblv k_[_ h^gh\j_f_ggh
hieZqb\Zlv b \hcgm b fbj�
��� Mqblu\Zy� qlh dhgp_ipby b ijZdlbdZ dmevlmju fbjZ ghkyl gh\Zlhjkdbc oZjZdl_j
b g_ij_ju\gh jZa\b\Zxlky� Hj]ZgbaZpbb H[t_^bg_gguo GZpbc g_h[oh^bfh ihhsjylv
ih^]hlh\dm b jZkijhkljZg_gb_ mq_[guo fZl_jbZeh\� Wlb fZl_jbZeu fh`gh jZajZ[hlZlv
lZdbf h[jZahf� qlh[u ^h\_klb bo ^h h[s_kl\_gghklb ih\kx^m� bkihevamy \k_ a\_gvy
hnbpbZevghc kbkl_fu h[jZah\Zgby b g_hnbpbZevgu_ b g_nhjfZevgu_ dZgZeu
h[mq_gby k hihjhc gZ rbjhdh_ jZaghh[jZab_ bgnhjfZpbhgguo l_ogheh]bc b yaudh\�
��� ?O��� - page ��
��� Ih^]hlh\dZ dZ^jh\ y\ey_lky dexq_\uf nZdlhjhf \ ^_e_ \hkiblZgby
jmdh\h^bl_e_c� dhlhju_ [m^ml ]hlh\u ihk\ylblv k\hx `bagv ^hklb`_gbx wlhc p_eb�
ex^_c� dhlhjuo fh`gh gZa\Zlv ³kljhbl_eyfb fbjZ´� Kljhbl_eb fbjZ \ughkyl gZ
f_`^mgZjh^guc mjh\_gv b ijb^Zxl Z^fbgbkljZlb\gh�hj]ZgbaZpbhggh_ hnhjfe_gb_
p_gghklyf� \a]ey^Zf� agZgbyf b nhjfZf ih\_^_gby� k\hckl\_gguf dmevlmj_ fbjZ� b
\uihegyxl jhev� ZgZeh]bqgmx lhc� dhlhjmx \uihegyxl Zdlb\bklu ^\b`_gby aZ
]jZfhlghklv� ihfh]Zy l_f kZfuf ex^yf h\eZ^_lv gZ\udZfb ihkj_^gbq_kl\Z b
ljZgknhjfbjh\Zgby dhgnebdlh\� Ihkdhevdm lZdZy ihlj_[ghklv hsmsZ_lky \h \k_o
bgklblmlZo h[s_kl\Z� ex^b fh]ml \uihegylv nmgdpbb kljhbl_e_c fbjZ \h \k_o kn_jZo
`bagb� gZijbf_j \ h[eZklb h[jZah\Zgby �ij_ih^Z\Zl_eb� `mjgZebklu b ijhqb_
jZ[hlgbdb kj_^kl\ bgnhjfZpbb�� jZa\blby �kem`[u jZa\blby h[sbg� jZ[hlgbdb kem`[
khpbZevgh]h beb f_^bpbgkdh]h h[_ki_q_gby�� ijZ\hkm^by �hf[m^kf_gu ih ijZ\Zf
q_eh\_dZ� gZ[ex^Zl_eb aZ \u[hjZfb�� dmevlmju �om^h`gbdb� ^h[jh\hevpu \ kn_j_
dmevlmjgh]h gZke_^by� h[sbggu_ Zdlb\bklu� beb jZ[hlu k fheh^_`vx �Zdlb\bklu ih
jZ[hl_ k fheh^_`vx� kZfZ fheh^_`v�� Kljhbl_eb fbjZ ijhoh^yl h[mq_gb_� ijbh[j_lZy
gZ\udb b agZdhfykv k ijbgpbiZfb dmevlmju fbjZ \ ^hiheg_gb_ d agZgbyf b hiulm�
m`_ gZdhie_gguf bfb \ bo h[eZklyo ^_yl_evghklb� Z aZl_f i_j_^Zxl wlb gh\u_ gZ\udb
k\hbf dhee_]Zf� l_f kZfuf ihfh]Zy ljZgknhjfbjh\Zlv dhgnebdlu \ khljm^gbq_kl\h�
Ih^]hlh\dZ dZ^jh\ b nhjfbjh\Zgb_ k_l_c� h[t_^bgyxsbo kljhbl_e_c fbjZ� � wlh
gZb[he__ wnn_dlb\guc kihkh[ ih^^_j`db b jZa\blby ]eh[Zevgh]h ^\b`_gby aZ
dmevlmjm fbjZ�
��� Kms_kl\m_l ihlj_[ghklv \ h[t_dlb\ghf bamq_gbb b hp_gd_ ijZdlbdb b iheblbdb
kh^_ckl\by kljhbl_evkl\m dmevlmju fbjZ� k l_f qlh[u gZjZ[hlZlv b jZkrbjblv
g_h[oh^bfu_ agZgby h lhf� dZd ^h[blvky mki_oZ \ bo ijbf_g_gbb� < ijbgpbi_�
dmevlmjm fbjZ ke_^m_l ihklZ\blv gZ ijhqgmx gZmqgmx hkgh\m� ^_ckl\my k g_ f_gvr_c
j_rbfhklvx b k ijb\e_q_gb_f g_ f_gvrbo j_kmjkh\� q_f \ p_eyo dmevlmju \hcgu \
ijhrehf�
K� >_yl_evghklv� gZijZ\e_ggZy gZ kh^_ckl\b_ g_gZkbebx
b m\Z`_gbx ijZ\ q_eh\_dZ
��� Ijbhjbl_lgh_ \gbfZgb_ ^he`gh [ulv m^_e_gh h[jZah\Zgbx \ h[eZklb ijZ\
q_eh\_dZ g_ lhevdh dZd i_j_^Zq_ Z[kljZdlguo agZgbc� gh b dZd h[mq_gbx f_lh^hf
`b\h]h mqZklby \ `bagb h[s_kl\Z� k l_f qlh[u hkgh\hiheZ]Zxsb_ ijbgpbiu ijZ\
q_eh\_dZ� knhjfmebjh\Zggu_ \h <k_h[s_c ^_deZjZpbb ijZ\ q_eh\_dZ� Dhg\_gpbb h
ijZ\Zo j_[_gdZ b ^jm]bo ghjfZlb\guo ^hdmf_glZo� kh]eZkh\Zgguo \ Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc� ijhgbdeb \ khagZgb_ dZ`^h]h q_eh\_dZ� G_h[oh^bfh mfgh`blv
mkbeby ih \uiheg_gbx f_j� j_dhf_g^h\Zgguo <k_fbjghc dhgn_j_gpb_c ih ijZ\Zf
q_eh\_dZ �<_gZ� ���� ]�� b F_`^mgZjh^guf dhg]j_kkhf ih \hkiblZgbx \ ^mo_ ijZ\
q_eh\_dZ b ^_fhdjZlbb �Fhgj_Zev ���� ]�� \ jZfdZo >_kylbe_lby h[jZah\Zgby \
h[eZklb ijZ\ q_eh\_dZ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� Ke_^m_l jZkrbjblv b
mdj_iblv ijh]jZffu ij_ih^Z\Zgby ijZ\ q_eh\_dZ kem`Zsbf ijZ\hhojZgbl_evguo
hj]Zgh\ b \h_gghkem`Zsbf�
��� G_h[oh^bfh ijhba\_klb i_j_kfhlj mq_[guo ijh]jZff \ k\_l_ j_dhf_g^Zpbc�
baeh`_gguo \ Dhfie_dkguo jZfdZo ^_ckl\bc ih \hkiblZgbx \ ^mo_ fbjZ� ijZ\
q_eh\_dZ b ^_fhdjZlbb� ijbgyluo \ ���� ]� F_`^mgZjh^ghc dhgn_j_gpb_c ih
h[jZah\Zgbx b =_g_jZevghc dhgn_j_gpb_c XG?KDH� <h \k_o a\_gvyo kbkl_fu
h[jZah\Zgby ke_^m_l jZa\b\Zlv djblbq_kdbc ih^oh^� ijbgpbiu kheb^Zjghklb� l\hj�
��� ?O��� - page ��
q_kl\Z� ]jZ`^Zgkdhc hl\_lkl\_gghklb� kihkh[ghklb j_rZlv dhgnebdlu g_gZkbev�
kl\_ggufb f_lh^Zfb� <hkiblZgb_ \ ^mo_ fbjZ� ijZ\ q_eh\_dZ b ^_fhdjZlbb ke_^m_l
\_klb \ l_q_gb_ \k_]h ijhp_kkZ h[mq_gby� \ lhf qbke_ iml_f nhjfbjh\Zgby \ mq_[guo
aZ\_^_gbyo debfZlZ � b \g_^j_gby lZf ijZdlbdb � rbjhdh]h mqZklby \ h[s_kl\_gguo
^_eZo gZ ^_fhdjZlbq_kdhc hkgh\_� G_h[oh^bfh ijhba\_klb i_j_kfhlj mq_[gbdh\�
ba[Z\b\ bo hl g_]Zlb\guo kl_j_hlbih\ b j_nhjfbjh\Zlv ij_ih^Z\Zgb_ bklhjbb lZdbf
h[jZahf� qlh[u \hijhkZf g_gZkbevkl\_gguo khpbZevguo i_j_f_g m^_eyehkv g_
f_gvr__ \gbfZgb_� q_f __ \h_gguf Zki_dlZf� ^_eZy ijb wlhf Zdp_gl gZ jheb `_gsbg�
Ih^]hlh\dZ i_^Z]h]h\� \ lhf qbke_ \ i_jbh^ ^h gZqZeZ bo ijhn_kkbhgZevghc
^_yl_evghklb� \ oh^_ wlhc ^_yl_evghklb b \ jZfdZo i_j_ih^]hlh\db� dZd ih
kh^_j`Zgbx� lZd b k lhqdb aj_gby mq_[ghc ijZdlbdb ^he`gZ [ulv hjb_glbjh\ZgZ gZ
\hkiblZgb_ \ ^mo_ fbjZ� ijZ\ q_eh\_dZ b ^_fhdjZlbb�
��� Hkh[mx ih^^_j`dm ke_^h\Zeh [u hdZaZlv mq_[guf aZ\_^_gbyf� jZkiheh`_gguf \
jZchgZo k_jv_aguo f_`]jmiih\uo dhgnebdlh\� gZijbf_j \ ]hjh^kdbo jZchgZo k
i_kljuf ih dmevlmjghfm khklZ\m gZk_e_gb_f beb \ h[s_kl\Zo� jZkdhehluo \hcghc�
LZdZy jZ[hlZ� ih^dj_ieyxsZy m`_ \u^\bgmlu_ bgbpbZlb\u \ h[eZklb h[jZah\Zgby�
ijba\ZgZ h[_ki_qblv dZq_kl\_ggh_ h[jZah\Zgb_� h^gh\j_f_ggh kh^_ckl\my
klZgh\e_gbx dmevlmju fbjZ \ khhl\_lkl\mxsbo h[sbgZo aZ kq_l jZa\blby
hkgh\Zggh]h gZ mqZklbb ijhp_kkZ h[mq_gby gZ\udZf ihkj_^gbq_kl\Z b mj_]mebjh\Zgby
dhgnebdlh\ k mqZklb_f klm^_glh\� ij_ih^Z\Zl_e_c� ij_^klZ\bl_e_c mq_[guo aZ\_^_gbc
b aZbgl_j_kh\Zgguo h[sbg� K p_evx ^hklb`_gby ]eh[Zevgh]h wnn_dlZ ke_^m_l
gZeZ^blv hkgh\Zggu_ gZ mqZklbb bkke_^h\Zgby b hp_gdm b kha^Zlv k_lv lZdbo mq_[guo
aZ\_^_gbc�
��� Jmdh\h^ysZy jhev \ \hkiblZgbb ^he`gZ ijbgZ^e_`Zlv \ukrbf mq_[guf
aZ\_^_gbyf� \ qZklghklb aZgbfZxsbfky ih^]hlh\dhc ij_ih^Z\Zl_e_c b i_^Z]h]h\�
H[_ki_qb\Zy k\yav k ^_yl_evghklvx \ h[eZklb dmevlmju fbjZ gZ gbah\hf mjh\g_� k
h^ghc klhjhgu� b k ^jm]bfb mq_[gufb aZ\_^_gbyfb aZ jm[_`hf � k ^jm]hc� \mau fh]ml
klZlv fhsguf dZlZebaZlhjhf \ jZa\blbb ]eh[Zevgh]h ^\b`_gby� DZn_^ju dmevlmju
fbjZ XG?KDH b mgb\_jkbl_lkdb_ k_lb MGBL<BG m`_ mqZkl\mxl \ wlhc jZ[hl_�
dhlhjZy� dZd h`b^Z_lky� ihemqbl ih^^_j`dm b ^Zevg_cr__ jZa\blb_ gZ <k_fbjghc
dhgn_j_gpbb ih \ukr_fm h[jZah\Zgbx� ijh\_^_gb_ dhlhjhc gZf_q_gh gZ ���� ]�
��� Hj]ZgbaZpby H[t_^bg_gguo GZpbc ^he`gZ kha^Zlv f_klgu_ b j_]bhgZevgu_
p_glju ljZgknhjfbjh\Zgby dhgnebdlh\� < gbo [m^_l ijh\h^blvky h[mq_gb_ gZ\udZf
ljZgknhjfbjh\Zgby dhgnebdlh\ b nhjfbjh\Zgby dhgk_gkmkZ� k ihfhsvx dhlhjuo
f_klgu_ b p_gljZevgu_ ijZ\bl_evkl\Z� g_ijZ\bl_evkl\_ggu_ hj]ZgbaZpbb b
hj]ZgbaZpbb h[s_kl\_gghklb kfh]ml jmdh\h^blv mkbebyfb k\hbo khh[s_kl\ \ ^_e_
ihkljh_gby fbjZ� Wlb p_glju kfh]eb [u ih aZijhkm \u^_eylv h[mq_gguo ihkj_^gbdh\
\ kemqZ_ \hagbdgh\_gby ghkysbo \gmljb]jmiih\hc� ljZgk]jZgbqguc beb f_`wlgb�
q_kdbc oZjZdl_j kihjh\� g_^hjZamf_gbc beb ^_ckl\bc� \hkijbgbfZ_fuo dZd
g_kijZ\_^eb\hklv� >_yl_evghklv lZdbo p_gljh\ hkms_kl\eyeZkv [u \ m\yad_ k m`_
bf_xsbfbky khhl\_lkl\mxsbfb f_`ijZ\bl_evkl\_ggufb� ijZ\bl_evkl\_ggufb b
g_ijZ\bl_evkl\_ggufb ijh]jZffZfb ljZgknhjfbjh\Zgby dhgnebdlh\� lZdbfb� dZd
k_lv hf[m^kf_gh\ ih ijZ\Zf q_eh\_dZ \ EZlbgkdhc :f_jbd_� f_oZgbaf mj_]mebjh\Zgby
dhgnebdlh\� kha^Z\Z_fuc Hj]ZgbaZpb_c ZnjbdZgkdh]h _^bgkl\Z� b ijh]jZffZ
^h[jh\hevp_\ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� dhlhju_ \uihegyxl nmgdpbb
kljhbl_e_c fbjZ \ jZfdZo ijh]jZff jZa\blby� Wlb p_glju jZajZ[hlZeb [u ijh]jZffu
��� ?O��� - page ��
³ih^]hlh\db ij_ih^Z\Zl_e_c´ ^ey h[mq_gby kljhbl_e_c fbjZ \ khhl\_lkl\mxsbo
j_]bhgZo b ^ey hkms_kl\e_gby gZ[ex^_gby b ih^^_j`db bo jZ[hlu ih kljhbl_evkl\m
fbjZ gZ ^he]hkjhqghc hkgh\_� qlh \ dhg_qghf blh]_ iha\hebl kha^Zlv fgh]h]jZggmx b
]b[dmx ]eh[Zevgmx k_lv kljhbl_e_c fbjZ� hibjZxsmxky gZ kh\j_f_ggmx
dhffmgbdZpbhggmx l_ogheh]bx b iha\heyxsmx h[f_gb\Zlvky bgnhjfZpb_c b
hiulhf \ \hijhkZo klZgh\e_gby dmevlmju fbjZ gZ f_klghf b j_]bhgZevghf mjh\gyo�
D. F_jhijbylby� gZijZ\e_ggu_ gZ mdj_ie_gb_ ^_fhdjZlbq_kdh]hmqZklby b mklhcqb\h]h q_eh\_q_kdh]h jZa\blby ^ey \k_o
��� Ihfhsv jZa\blbx g_h[oh^bfh i_j_kfhlj_lv lZdbf h[jZahf� qlh[u h[_ki_qblv
ihegh_ mqZklb_ \k_o khhl\_lkl\mxsbo khpbZevguo ]jmii� \dexqZy l_ ba gbo� dhlhju_
gZoh^ylky \ dhgnebdl_� \ jZajZ[hld_� hkms_kl\e_gbb b hp_gd_ dZ`^h]h ijh_dlZ�
Hp_gdZ ihfhsb jZa\blbx ^he`gZ \dexqZlv kbkl_fZlbq_kdmx hp_gdm lh]h� \ dZdhc
kl_i_gb dZ`^Zy ijh]jZffZ kh^_ckl\m_l khljm^gbq_kl\m b ijbghkbl ihevam \k_f
aZbgl_j_kh\Zgguf klhjhgZf� beb hp_gdm lh]h� g_ m\_ebqb\Z_l eb hgZ g_jZ\_gkl\h b g_
\uau\Z_l eb hgZ dhgnebdlu� HgZ kljhblky gZ lj_[h\Zgbb� ijbgylhf <k_fbjghc
\klj_q_c gZ \ukr_f mjh\g_ ih khpbZevghfm jZa\blbx �Dhi_g]Z]_g� ���� ]��� \
khhl\_lkl\bb k dhlhjuf ex^yf ^he`gZ [ulv ij_^hklZ\e_gZ \hafh`ghklv ihegh]h
mqZklby \ hij_^_e_gbb p_e_c� jZajZ[hld_ ijh]jZff� hkms_kl\e_gbb ^_yl_evghklb b
ijh\_^_gbb hp_gdb hkms_kl\e_gby khpbZevgh]h jZa\blby� ijbq_f wlh lj_[h\Zgb_
jZkrbjy_l ]jZgbpu hp_gdb iml_f \dexq_gby� Z g_ bkdexq_gby dhgnebdlh\ ba
ijhp_kkZ jZa\blby� >ey lh]h qlh[u ^h[blvky wlh]h� ijhp_kk jZa\blby ^he`_g g_ lhevdh
ho\Zlu\Zlv ijZ\bl_evkl\_ggu_ mqj_`^_gby� gh lZd`_ b ij_^klZ\bl_e_c ]jZ`^Zgkdh]h
h[s_kl\Z� \dexqZy l_o� dlh fh`_l gZoh^blvky \ dhgnebdl_ k ijZ\bl_evkl\hf� Hiul
bkihevah\Zgby lZdh]h ih^oh^Z� gZdhie_gguc ijb hkms_kl\e_gbb gZpbhgZevguo
ijh]jZff dmevlmju fbjZ XG?KDH� ]h\hjbl h lhf� qlh hkms_kl\e_gb_ ijh_dlh\
jZa\blby ijb gZebqbb dhgnebdlmxsbo klhjhg fh`_l aZgylv [he__ ijh^he`bl_evgh_
\j_fy� ijbq_f ihy\eyxsZyky ijb\_j`_gghklv \k_o klhjhg d ijhp_kkm jZa\blby
\uau\Z_l qm\kl\h ³ijbqZklghklb´� dhlhjh_ ih\urZ_l \_jhylghklv lh]h� qlh ijh_dl
mf_gvrbl \hafh`ghklv ijhy\e_gby gZkbeby b ih\ukbl mklhcqb\hklv ihemq_gguo
j_amevlZlh\� >ey hdZaZgby kh^_ckl\by wlhfm ijhp_kkm g_h[oh^bfh ih^]hlh\blv
i_jkhgZe ih ijh_dlZf jZa\blby� dhlhjuc ^he`_g \uklmiZlv \ dZq_kl\_ aZsblgbdh\
fbjZ� b]jZxsbo jhev lj_l_ckdbo km^_c� ihkj_^gbdh\ b kh^_ckl\mxsbo iheghfm
mqZklbx klhjhg� gZoh^ysboky \ dhgnebdl_�
��� Fbjgu_ kh]eZr_gby ^he`gu \dexqZlv gZpbhgZevgu_ ijh]jZffu ih dmevlmj_
fbjZ� \ dhlhjuo dhgnebdlmxsb_ klhjhgu kh]eZrZxlky jZ[hlZlv \f_kl_ \ ^_e_
jZajZ[hldb� hkms_kl\e_gby b hp_gdb ijh_dlh\ jZa\blby� Wlb ijh_dlu aZkem`b\Zxl
lh]h� qlh[u aZgylv \Z`gh_ f_klh \ ^_yl_evghklb ih kljhbl_evkl\m fbjZ� dhlhjZy
khijh\h`^Z_l b ih^dj_iey_l hi_jZpbb ih ih^^_j`Zgbx fbjZ�
��� Ihfhsv \ hj]ZgbaZpbb \u[hjh\� ij_^hklZ\ey_fZy ]hkm^Zjkl\Zf \ ih^]hlh\d_ b
gZ[ex^_gbb aZ \u[hjZfb� ^he`gZ \uoh^blv aZ jZfdb qbklh l_ogbq_kdhc ihfhsb b
^he`gZ [ulv hjb_glbjh\ZgZ gZ jZa\blb_ wg^h]_ggh]h ihl_gpbZeZ� k\yaZggh]h kh \k_f
^_fhdjZlbq_kdbf ijhp_kkhf� G_h[oh^bfh ijbgbfZlv \h \gbfZgb_ ljZ^bpbhggu_
bgklblmlu b ^bgZfbdm mqZklby h[s_kl\ \ ijhp_kk_ ^_fhdjZlbaZpbb� Wlh y\ey_lky
kms_kl\_gguf Zki_dlhf� ihkdhevdm� dZd ihdZaZe hiul� ihiuldb ijb\g_k_gby
bghkljZgguo fh^_e_c ^_fhdjZlbb g_ bf_eb mki_oZ�
��� ?O��� - page ��
��� G_^himklbfh� qlh[u dZdZy�eb[h kljZgZ beb mqj_`^_gb_ gZ\yau\Zeb fh^_ev
^_fhdjZlbb ^jm]bf� h^gZdh kbkl_fZ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc fh`_l
kem`blv ^ey ^jm]bo \ dZq_kl\_ ijbf_jZ mijZ\e_gby� dh]^Z bkihevamxlky
^_fhdjZlbq_kdb_ ijbgpbiu b g_Z\lhjblZjgu_ kljmdlmju b kihkh[u ijbgylby
j_r_gbc� DZd hkgh\ghc p_eb j_nhjfu ke_^m_l hdZau\Zlv kh^_ckl\b_ ³dmevlmj_
mijZ\e_gby´� \ dhlhjhc [u ^bZeh]� mqZklb_ b jZklmsZy jhev dhgk_gkmkZ ij_\Zebjh\Zeb
gZ^ b_jZjobq_kdhc \eZklvx� ljZgknhjfbjh\Zgb_ dhgnebdlh\ b khljm^gbq_kl\h � gZ^
bgklblmpbhgZevghc dhgdmj_gpb_c� jZ\ghijZ\gh_ mqZklb_ \ mijZ\e_gbb `_gsbg b
fm`qbg � gZ^ ^hfbgbjh\Zgb_f fm`qbg b kh\f_klgh_ bkihevah\Zgb_ bgnhjfZpbb � gZ^
k_dj_lghklvx� Gh\u_ h[jZah\Zl_evgu_ bgbpbZlb\u� dZd� gZijbf_j� Ijh_dl dhee_^`Z
^ey khljm^gbdh\ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� fh]ml ijb\g_klb p_gghklb�
hlghr_gb_ b nhjfu ih\_^_gby \ h[eZklb dmevlmju fbjZ \ ijZdlbdm mijZ\e_gby gZ
dZ`^hf mjh\g_ kbkl_fu� iml_f ih^q_jdb\Zgby \Z`ghklb ijbh[j_l_gby gZ ijhly`_gbb
\k_c `bagb gZ\udh\ \ h[eZklb dhffmgbdZpbb \ dmevlmjghf jZaj_a_� \_^_gby
i_j_]h\hjh\� hj]ZgbaZpbhgguo \hijhkh\ b jmdh\h^kl\Z ih hkms_kl\e_gbx baf_g_gbc�
��� G_h[oh^bfh hkms_kl\eylv kbkl_fZlbq_kdmx ijh]jZffm bkke_^h\Zgbc hiulZ
dhfbkkbc bklbgu b ijbfbj_gby� dhlhju_ kha^Z\Zebkv ihke_ h`_klhq_gguo
dhgnebdlh\� ijbq_f qZklh \ jZfdZo gZpbhgZevguo kh]eZr_gbc h fbj_� Ba wlbo b
^jm]bo bgklblmpbhgZevguo bgbpbZlb\� dhlhju_ jZkkfZljb\Zxl kijZ\_^eb\hklv dZd
kj_^kl\h ijbfbj_gby� fh`gh k^_eZlv \Z`gu_ \u\h^u b bkihevah\Zlv bo ^ey
^Zevg_cr_]h jZa\blby b ijb\e_q_gby lZdbo bgklblmlh\�
?� >_ckl\by� gZijZ\e_ggu_ gZ h[_ki_q_gb_ jZ\_gkl\Z
f_`^m `_gsbgZfb b fm`qbgZfb
��� IjbgbfZy \h \gbfZgb_ keh`gmx aZ\bkbfhklv fbjZ hl jZ\_gkl\Z f_`^m
`_gsbgZfb b fm`qbgZfb� \Z`gh gZijZ\blv ^hklZlhqgu_ j_kmjku b fh[bebah\Zlv
iheblbq_kdmx \hex gZ hkms_kl\e_gb_ IeZlnhjfu ^_ckl\bc q_l\_jlhc \k_fbjghc
dhgn_j_gpbb ih iheh`_gbx `_gsbg �I_dbg� ���� ]��� Hkh[h \Z`gh_ agZq_gb_ ^ey
dmevlmju fbjZ ij_^klZ\eyxl ij_^eh`_ggu_ f_jhijbylby� dZkZxsb_ky� jZ\gh]h
^hklmiZ d h[jZah\Zgbx� bkke_^h\Zgby ijbqbg� ihke_^kl\bc b ij_^hl\jZs_gby gZkbeby
\ hlghr_gbb `_gsbg� khdjZs_gby \h_gguo jZkoh^h\ b \hhjm`_gbc� kh^_ckl\by
g_gZkbevkl\_gghfm jZaj_r_gbx dhgnebdlh\� mqZklby \ kljmdlmjZo \eZklb b ijbgylby
j_r_gbc� mihjy^hq_gby \hijhkh\� k\yaZgguo k jZ\_gkl\hf iheh\ \ [m^ms_f \ lhf� qlh
dZkZ_lky \k_c ^_yl_evghklb \ h[eZklb iheblbdb b ieZgbjh\Zgby� aZsblu ijZ\ q_eh\_dZ
b ebd\b^Zpbb ^bkdjbfbgZpbb� Z lZd`_ mqZklby b ^hklmiZ \ lhf� qlh dZkZ_lky
\ujZ`_gby fuke_c b ijbgylby j_r_gbc \ kj_^kl\Zo bgnhjfZpbb b k bo ihfhsvx�
��� < I_dbgkdhc ieZlnhjf_ ^_ckl\bc ]h\hjblky� qlh ³ihegh_ mqZklb_ `_gsbg \
kbeh\uo kljmdlmjZo b bo ihegh\_kgh_ mqZklb_ \h \k_o mkbebyo ih ij_^hl\jZs_gbx b
mj_]mebjh\Zgbx dhgnebdlh\� y\ey_lky \Z`guf ^ey ih^^_j`Zgby b aZsblu fbjZ´��� <
wlhc k\yab g_h[oh^bfh hdZau\Zlv ih^^_j`dm bgbpbZlb\Zf `_gsbg dZkZl_evgh fbjZ�
dhlhju_ qZklh ijhy\eyxlky \ nhjf_ ijhl_klZ ijhlb\ gZkbeby� \hhjm`_gbc b \h_gguo
jZkoh^h\ b \ hlghr_gbb aZsblu `bagb b hdjm`Zxs_c kj_^u� Z lZd`_ hdZau\Zlv
ihfhsv \ ih^]hlh\d_ `_gsbg dZd aZsblgbdh\ fbjZ� G_h[oh^bfh ij_^ijbgylv
^Zevg_crb_ dhgdj_lgu_ f_ju ih kh^_ckl\bx jZ\_gkl\m f_`^m `_gsbgZfb b
fm`qbgZfb \ ijbgylbb j_r_gbc \ wdhghfbq_kdbo b iheblbq_kdbo h[eZklyo b ih
hdZaZgbx ih^^_j`db `_gsbgZf� m`_ aZgbfZxsbf kljZl_]bq_kdb_ ihklu� k p_evx
gZjZsb\Zgby djblbq_kdhc fZkku jmdh\h^bl_e_c� hl\_lkl\_gguo ebp b mijZ\eyxsbo
��� ?O��� - page ��
`_gsbg \ ijbgylbb j_r_gbc� Wlh g_h[oh^bfh ^ey ij_h^he_gby g_^hbkihevah\Zgby \
gZklhys__ \j_fy hiulZ� dhfi_l_glghklb b \b^_gby `_gsbg�
��� >_yl_evghklv \ jZfdZo wlhc ijh]jZffu g_h[oh^bfh ih^dj_iblv bkke_^h\Zgbyfb
b ih^]hlh\dhc ^ey j_r_gby \hijhkh\� k\yaZgguo k ihehf� dhlhju_ lhjfhayl beb
gZh[hjhl kihkh[kl\mxl jZa\blbx dmevlmju fbjZ� G_h[oh^bfh m^_eylv hkh[h_
\gbfZgb_ \hijhkm khpbZebaZpbb fZevqbdh\ b fm`qbg \ p_eyo ba[_`Zgby
bkihevah\Zgby bfb ij_\hkoh^kl\Z� kbeu� Z]j_kkb\ghklb b gZkbeby� Z lZd`_ jhklm bo
ihl_gpbZeZ \ lhf� qlh dZkZ_lky bo wfhpbc� ijhy\e_gby aZ[hlu b kihkh[ghklb h[s_gby�
Ijh]j_kk \ ^_e_ ebd\b^Zpbb `_kldbo b kl_j_hlbiguo jhe_c� dZkZxsboky iheZ�
iha\hebl h[_ki_qblv jZ\_gkl\h b iZjlg_jkl\h� jZkdju\Zxsb_ iheguc ihl_gpbZe
`_gsbg b fm`qbg� \ lhf qlh dZkZ_lky l\hjq_kdh]h b dhgkljmdlb\gh]h ih^oh^Z \
j_r_gbb dhgnebdlh\ b kh\f_klgh]h mijZ\e_gby�
��� >ey lh]h qlh[u h[_ki_qblv k[ZeZgkbjh\Zggh_ b g_kl_j_hlbigh_ ij_^klZ\e_gb_ h
`_gsbgZo� g_h[oh^bfh hkms_kl\blv khhl\_lkl\mxsb_ f_jhijbylby� ij_^eh`_ggu_
I_dbgkdbf ieZghf ^_ckl\bc� AgZqbl_evgZy ihfhsv ^he`gZ [ulv hdZaZgZ \ ^_e_
kha^Zgby b ih^^_j`Zgby `_gkdbo k_l_c kj_^kl\ bgnhjfZpbb� G_h[oh^bfh lZd`_
jZajZ[hlZlv b ijbgylv mq_[gu_ ieZgu� mq_[gu_ fZl_jbZeu b mq_[gbdb� dhlhju_
hdZau\Zxl iheh`bl_evgh_ \ha^_ckl\b_ gZ h[jZa� `bagv b \hafh`ghklv
ljm^hmkljhckl\Z ^_\hq_d�
F� >_ckl\by� gZijZ\e_ggu_ gZ hdZaZgb_ ih^^_j`db dhee_dlb\ghcdhffmgbdZpbb b k\h[h^ghfm ihlhdm b kh\f_klghfm
bkihevah\Zgbx bgnhjfZpbb b agZgbc
��� Ihke_^gb_ \k_fbjgu_ dhgn_j_gpbb� khklhy\rb_ky \ jZfdZo Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc� k^_eZeb mihj gZ ihl_gpbZevghf \deZ^_ fZkkh\hc dhffmgbdZpbb
\ jZa\blb_ ^_fhdjZlbb� ijZ\ q_eh\_dZ b ijh^\b`_gb_ `_gsbg� >ey lh]h qlh[u
hij_^_eblv� dZdbf h[jZahf Hj]ZgbaZpby H[t_^bg_gguo GZpbc� ]hkm^Zjkl\Z�qe_gu b
^jm]b_ mqj_`^_gby fh]ml \hkihevah\Zlvky ieh^Zfb [ukljh]h jZa\blby l_ogheh]bb b
jZkijhkljZg_gby dhffmgbdZpbhgguo kbkl_f� k l_f qlh[u j_Zebah\Zlv wlhl ihl_gpbZe
k ihfhsvx Zdlb\gh]h mqZklby gZk_e_gby dZd \ kfuke_ ^hklmiZ d bgnhjfZpbb� lZd b
^hklmiZ d kj_^kl\Zf \ujZ`_gby� g_h[oh^bfh kbkl_fZlbq_kdh_ hkms_kl\e_gb_ ijhp_kkZ
bkke_^h\Zgbc� dhgkmevlZpbc b ijbgylby j_r_gbc� >ey lh]h qlh[u iha\heblv h[sbgZf
\ukdZau\Zlv k\hb fukeb� ]h\hjblv h k\hbo ihlj_[ghklyo b mqZkl\h\Zlv \ ijb_f_
j_r_gbc� dhlhju_ dZkZxlky ijhp_kkZ jZa\blby� bo g_h[oh^bfh� \ qZklghklb�
h[_ki_qblv [he__ hldjulufb ^\mklhjhggbfb kbkl_fZfb fZkkh\hc dhffmgbdZpbb� GZ
ih\_kldm ^gy fh`gh ihklZ\blv \hijhk h lhf� ke_^m_l eb hlghkblvky d f_`^mgZjh^ghfm
dhffmgbdZpbhgghfm ijhkljZgkl\m �jZ^bh\hegu� kimlgbdb b l�^�� dZd d ]eh[Zevghc
kh[kl\_gghklb� ih^e_`Zs_c j_]mebjh\Zgbx b bkihevah\Zgbx \ h[s_kl\_gguo
bgl_j_kZo� \ lhf qbke_ dZd d ihl_gpbZem ^ey bkihevah\Zgby \ dZq_kl\_ f_`^mgZjh^ghc
h[s_kl\_gghc kj_^u bgnhjfZpbb�
��� G_h[oh^bfh aZ^_ckl\h\Zlv jZaebqgu_ kj_^kl\Z fZkkh\hc dhffmgbdZpbb ^ey
\hkiblZgby \ ^mo_ dmevlmju fbjZ b g_gZkbeby� k mihjhf gZ ^\mklhjhggxx
dhffmgbdZpbx b mqZklb_� G_h[oh^bfh h[e_]qblv ^hklmi d nbevfZf� \b^_hb]jZf� d
jZ^bh� b l_e_\babhgguf ijh]jZffZf� kha^Z\Z_fuf aZsblgbdZfb fbjZ \ ijhp_kk_ bo
jZ[hlu� ^ey lh]h qlh[u ihdZaZlv hkgh\gu_ p_gghklb� hlghr_gb_ b nhjfu ih\_^_gby \
h[eZklb dmevlmju fbjZ b hdZaZlv bf kh^_ckl\b_� Ihklhyggh_ ijbagZgb_ b ihhsj_gb_
��� ?O��� - page ��
wlh]h ijhp_kkZ h[f_gZ� \dexqZy khhl\_lkl\mxsb_ ij_fbb b n_klb\Zeb� Z lZd`_
kh\f_klgh_ bkihevah\Zgb_ j_amevlZlh\ k hj]ZgbaZpbyfb ihlj_[bl_e_c� fh`_l ihfhqv
h`b\e_gbx jZkijhkljZg_gby k ihfhsvx dhff_jq_kdh]h jugdZ b h[s_kl\_ggh]h
\_sZgby nbevfh\ b ijh]jZff� dhlhju_ kh^_ckl\mxl dmevlmj_ fbjZ� Wlhl ijhp_kk
g_h[oh^bfh iheghklvx h[t_^bgblv k j_]bhgZevgufb b gZpbhgZevgufb mkbebyfb� dZd
gZijbf_j� Ijh]jZffhc dhffmgbdZpbb ^ey ihkljh_gby fbjZ \ jZfdZo ki_pbZevghc
bgbpbZlb\u ^ey :njbdb�
��� G_h[oh^bfh m\_ebqblv ihfhsv g_aZ\bkbfuf kj_^kl\Zf bgnhjfZpbb� ^ey lh]h
qlh[u ex^b ih\kx^m bf_eb ^hklmi d k\h[h^guf iexjZebklbq_kdbf b g_aZ\bkbfuf
bklhqgbdZf gh\hkl_c b bgnhjfZpbb� Wlh \ hkh[_gghklb g_h[oh^bfh \ mkeh\byo
gZkbevkl\_gguo dhgnebdlh\� dh]^Z g_aZ\bkbfu_ kj_^kl\Z bgnhjfZpbb fh]ml
ijhlb\hihklZ\blv k_[y ijhiZ]Zg^_ dk_ghnh[bb b h[jZam \jZ]Z� dZd wlh bf_eh f_klh \
[u\r_c X]hkeZ\bb� ]^_ \ ���� ]� [ue kha^Zg ij_p_^_gl� dh]^Z \i_j\u_ \
f_`mqj_`^_gq_kdh_ h[jZs_gb_ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc [ueZ \dexq_gZ
njZaZ ³ihfhsv g_aZ\bkbfuf kj_^kl\Zf bgnhjfZpbb´� GZ hkgh\_ hiulZ F_`^m�
gZjh^ghc ijh]jZffu jZa\blby dhffmgbdZpbb� Z lZd`_ f_`^mgZjh^guo b
j_]bhgZevguo ijhn_kkbhgZevguo hj]ZgbaZpbc� jZ[hlZxsbo \ wlhc h[eZklb�
hdZau\Z_fZy ihfhsv ^he`gZ \dexqZlv l_ogbq_kdmx ihfhsv� ihfhsv ih jZa\blbx
p_gljh\ b bklhqgbdh\ kj_^kl\ bgnhjfZpbb� Z lZd`_ ihfhsv ih ih^]hlh\d_
`mjgZebklh\ b ^jm]bo ki_pbZebklh\ \ h[eZklb kj_^kl\ bgnhjfZpbb k mihjhf gZ
kj_^kl\Z bgnhjfZpbb `_gsbg b ^ey `_gsbg� Z lZd`_ ]jmii f_gvrbgkl\ \ h[s_kl\_�
��� K\h[h^m i_qZlb g_h[oh^bfh aZsbsZlv \k_fb kj_^kl\Zfb ijhlb\ ex[uo m]jha� g_
aZfudZykv lhevdh gZ aZsbl_ hl ijZ\bl_evkl\_gguo h]jZgbq_gbc b p_gamju� K\h[h^Z b
nbabq_kdZy [_ahiZkghklv `mjgZebklh\ b ^jm]bo jZ[hlgbdh\ kj_^kl\ bgnhjfZpbb
aZkem`b\Z_l hkh[h]h \gbfZgby b aZsblu� ihkdhevdm hgZ qZklh k\yaZgZ k \hijhkZfb
k_dj_lghklb� aZ dhlhjufb kdju\Z_lky dhjjmipby� gZkbeb_ b g_e_]ZevgZy ^_yl_evghklv�
G_h[oh^bfh g_ h]jZgbqb\Zlvky ^hdmf_glZebaZpb_c wlbo gZiZ^hd �F_`^mgZjh^gZy k_lv
ih \hijhkZf k\h[h^gh]h \ujZ`_gby fg_gbc b h[f_gm fg_gbyfb aZj_]bkljbjh\ZeZ \
���� ]� [he__ lukyqb gZiZ^hd gZ `mjgZebklh\ b i_qZlgu_ hj]ZgbaZpbb�� Z kha^Z\Zlv
kj_^m� \ dhlhjhc k\h[h^Z i_qZlb fh`_l kms_kl\h\Zlv� g_ bkiulu\Zy kljZoZ�
��� G_h[oh^bfh ijh\_klb f_`^mgZjh^gh_ bkke_^h\Zgb_ k p_evx hdZaZgby kh^_ckl\by
ljZgkiZj_glghklb \ h[eZklb mijZ\e_gby b ijbgylby wdhghfbq_kdbo j_r_gbc b
bamq_gby \hijhkh\ jZkijhkljZg_gby k_dj_lghklb� hijZ\^u\Z_fuo lZdbfb ihgylbyfb
dZd ³gZpbhgZevgZy [_ahiZkghklv´ b ³nbgZgkh\Zy [_ahiZkghklv´ b ³wdhghfbq_kdZy
dhgdmj_gpby´� G_h[oh^bfh aZ^Zlvky \hijhkhf� \ dZdhc kl_i_gb wlZ k_dj_lghklv
kh\f_klbfZ k ^hklmihf d bgnhjfZpbb \ mkeh\byo ^_fhdjZlbb b khpbZevghc
kijZ\_^eb\hklb b fh`_l eb hgZ kh^_ckl\h\Zlv \ hl^_evguo kemqZyo ^he]hkjhqghc
[_ahiZkghklb� Z g_ kdju\Zlv bgnhjfZpbx h ijhp_kkZo �wdheh]bq_kdbo� nbgZgkh\uo�
\h_gguo b l�^��� dhlhju_ ij_^klZ\eyxl ihl_gpbZevgmx m]jham dZ`^hfm b dhlhju_
lZdbf h[jZahf g_h[oh^bfh jZkkfZljb\Zlv k mqZklb_f h[s_kl\_gghklb�
��� JZkijhkljZg_gb_ h[jZaZ gZkbeby \ kj_^kl\Zo bgnhjfZpbb kh^_ckl\m_l mk\h_gbx
fgh]bfb fheh^ufb ex^vfb lh]h� qlh gZkbeb_ y\ey_lky [he__ wnn_dlb\ghc f_jhc ih
kjZ\g_gbx k Zdlb\guf g_gZkbeb_f� Z lZd`_ kh^_ckl\m_l jZkijhkljZg_gbx i_kkbfbafZ�
dhlhjuc kem`bl ij_iylkl\b_f gZ imlb d dmevlmj_ fbjZ� G_h[oh^bfh b ^Zevr_
bkke_^h\Zlv wlm ijh[e_fm� Z lZd`_ ijhba\h^blv h[f_g b jZkijhkljZgylv j_amevlZlu
bkke_^h\Zgbc� \dexqZy bgnhjfZpbx b hp_gdm kms_kl\mxsbo \b^h\ kZfhh]jZgbq_gbc�
��� ?O��� - page ��
Fheh^uf ex^yf ke_^m_l hdZaZlv ih^^_j`dm \ lhf� qlh[u m gbo [ueh kh[kl\_ggh_
bgnhjfZpbhggh_ ijhkljZgkl\h ^ey \ujZ`_gby fuke_c b mklZgh\e_gby ihe_agh]h
^bZeh]Z k ^jm]bfb qe_gZfb bo h[s_kl\Z� Z lZd`_ jZa\blby� h[f_gZ b dhff_jq_kdh]h
jZkijhkljZg_gby Zevl_jgZlb\guo� ihablb\guo jZ[hl kj_^u bgnhjfZpbb�
���� DZd ]h\hjblky \ Ih\_kld_ ^gy gZ XXI \_d� ijbgylhc Dhgn_j_gpb_c Hj]ZgbaZpbbH[t_^bg_gguo GZpbc ih hdjm`Zxs_c kj_^_ b jZa\blbx� kh\f_klgh_ bkihevah\Zgb_
gZmqghc b l_ogbq_kdhc bgnhjfZpbb y\ey_lky j_rZxsbf ^ey h[_ki_q_gby
]eh[Zevgh]h ijh]j_kkZ� gZijZ\e_ggh]h gZ mklhcqb\h_ jZa\blb_� gZ dhlhjhf ^he`gZ
[Zabjh\Zlvky dmevlmjZ fbjZ��� K mq_lhf j_dhf_g^Zpbc Ih\_kldb ^gy gZ XXI \_d b bo
ihke_^mxs_]h \uiheg_gby g_h[oh^bfh ijbeh`blv gh\u_ mkbeby� bkihevamy
ihke_^gb_ ^hklb`_gby \ dhffmgbdZpbhgghc l_ogheh]bb� k l_f qlh[u ij_^hklZ\blv
dZgZeu ih h[f_gm bgnhjfZpb_c� bkihevam_fu_ weblhc mq_guo b l_ogbq_kdbfb
ijhn_kkbhgZevgufb jZ[hlgbdZfb� bo dhee_]Zf \h \k_o j_]bhgZo fbjZ� \dexqZy
ij_^hklZ\e_gb_ b h[kem`b\Zgb_ g_h[oh^bfh]h l_ogbq_kdh]h h[hjm^h\Zgby b
ih^]hlh\dm�
G� >_ckl\by� gZijZ\e_ggu_ gZ kh^_ckl\b_ ihgbfZgbx l_jibfhklb
b kheb^Zjghklb \k_fb gZjh^Zfb b dmevlmjZfb
���� LjZ^bpbhggZy ijZdlbdZ ih^^_j`Zgby fbjZ� hkgh\u\ZxsZyky gZ
khhl\_lkl\mxs_c dmevlmj_� aZgbfZ_l \Z`gh_ f_klh \ jZajZ[hld_ f_jhijbylbc�
gZijZ\e_gguo gZ kh^_ckl\b_ dmevlmj_ fbjZ� ?_ ke_^m_l jZkkfZljb\Zlv \ dZq_kl\_
\Z`gh]h dhfihg_glZ \k_c ^_yl_evghklb� k\yaZgghc k ihkljh_gb_f fbjZ b jZa\blb_f gZ
gbah\hf mjh\g_� k p_evx h[_ki_qblv __ khhl\_lkl\mxs__ \g_^j_gb_ \ dmevlmjguc
dhgl_dkl�
���� JZ[hlgbdb dmevlmju fh]ml [ulv gZb[he__ wnn_dlb\gufb [hjpZfb aZ fbj�
Ihkdhevdm l\hjq_kl\h y\ey_lky bklhqgbdhf b ^\b]Zl_e_f jZa\blby� g_h[oh^bfh
ihhsjylv om^h`gbdh\ b j_f_ke_ggbdh\� Z lZd`_ hdZau\Zlv bf ih^^_j`dm \ bo
mkbebyo� gZijZ\e_gguo gZ \g_k_gb_ [he__ ihegh]h \deZ^Z \ jZa\blb_ dmevlmju fbjZ�
G_h[oh^bfh mkbeblv ^_ckl\by� gZijZ\e_ggu_ gZ hkms_kl\e_gb_ Dhg\_gpbb h
\k_fbjghf gZke_^bb b ihhsj_gb_ khojZg_gby b bkihevah\Zgby f_kl dmevlmjgh]h
gZke_^by� lZdbf h[jZahf� qlh[u ihdZaZlv jZaghh[jZab_ \k_fbjgh]h gZke_^by�
hkgh\u\Zxs__ky gZ jZaghh[jZabb dmevlmj� dhlhjh_ hgh h[t_^bgy_l� < wlhc k\yab
j_dhf_g^m_lky hdZau\Zlv ihfhsv \ ih^]hlh\d_ b bkihevah\Zgbb ^h[jh\hevp_\ \
h[eZklb dmevlmjgh]h gZke_^by� dZd h[ wlhf ]h\hjblky \ ^hdeZ^_ <k_fbjghc dhfbkkbb
ih dmevlmj_ b jZa\blbx �XG?KDH� ���� ]��� Z lZd`_ j_dhf_g^m_lky� qlh[u g_dhlhju_
ba wlbo ^h[jh\hevp_\ ih^]hlZ\eb\Zeb [hjph\ aZ fbj b kZfb \uklmiZeb \ dZq_kl\_
[hjph\ aZ fbj \ jZchgZo� ]^_ gZ[ex^Zxlky dmevlmjgu_ dhgnebdlu� \ p_eyo khojZg_gby
nhjf dmevlmju� gZoh^ysboky ih^ m]jhahc� dZd� gZijbf_j� iZfylgbdh\� ^hdmf_glh\�
yaudh\� bah[jZabl_evgh]h bkdmkkl\Z� lZdbf h[jZahf� dhlhjuc kh^_ckl\m_l mkbe_gbx
f_`dmevlmjgh]h ihgbfZgby b khljm^gbq_kl\Z�
���� Hkms_kl\e_gb_ ijh]jZffu ^_ckl\bc \ ijh^he`_gb_ f_jhijbylbc =h^Z Hj]Zgb�
aZpbb H[t_^bg_gguo GZpbc� ihk\ys_ggh]h l_jibfhklb ����� ]�� aZkem`b\Z_l \ukr_]h
ijbhjbl_lZ� < jZfdZo h[jZah\Zl_evguo kbkl_f g_h[oh^bfh hkms_kl\eylv bgl_]jb�
jh\Zgguc ih^oh^� dhlhjuc \dexqZ_l ijZ\Z� h[jZah\Zl_evgu_ p_gghklb� ij_ih^Z\Zgb_
bghkljZgguo yaudh\� fgh]hdmevlmjguc b f_`dmevlmjguc mq_[guc ieZg� gh\u_
ih^oh^u d ij_ih^Z\Zgbx bklhjbb b ]jZ`^Zgkdbo gZmd� \ dhlhjuo hkh[uc mihj
��� ?O��� - page ��
^_eZ_lky gZ \deZ^_ \ dmevlmjm fbjZ� ki_pbZebabjh\Zggmx ih^]hlh\dm ij_ih^Z\Zl_e_c b
kha^Zgb_ ^_fhdjZlbq_kdhc b lhe_jZglghc Zlfhkn_ju \ deZkkguo dhfgZlZo� G_h[oh�
^bfh ihhsjylv kj_^kl\Z bgnhjfZpbb� him[ebdh\u\Zlv fZl_jbZeu h ki_pbZevguo
kh[ulbyo� im[ebdZpbyo b kh\_sZgbyo� ^ey lh]h qlh[u fh[bebah\Zlv h[s_kl\_ggh_
fg_gb_ \ ihevam lhe_jZglghklb� ijbeZ]Zy hkh[u_ mkbeby dZ`^uc ]h^ �� ghy[jy \
ijh\_^_gbb F_`^mgZjh^gh]h ^gy� ihk\ys_ggh]h l_jibfhklb���
���� G_h[oh^bfh hdZaZlv ihfhsv mqj_`^_gbyf Hj]ZgbaZpbb H[t_^bg_gguo GZpbc \
hkms_kl\e_gbb ^_yl_evghklb� mdZaZgghc \ Ijh]jZff_ ^_ckl\bc \ ijh^he`_gb_
f_jhijbylbc =h^Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� ihk\ys_ggh]h l_jibfhklb� Wlb
f_jhijbylby \dexqZxl hdZaZgb_ ih^^_j`db� mkbebyf XG?KDH \ \hkiblZgbb \ ^mo_
fbjZ� fheh^_`guf ijh]jZffZf b mgb\_jkbl_lkdbf h[f_gZf� kh^_ckl\mxsbf
l_jibfhklb� bkke_^h\Zgbyf \ h[eZklb khpbZevguo gZmd ih \hijhkZf bklhqgbdh\
l_jibfhklb b ijh[e_f� k\yaZgguo k l_jibfhklvx� Z lZd`_ ijh\_^_gbx dhgkljmd�
lb\gh]h ^bZeh]Z kj_^b ij_^klZ\bl_e_c fbjh\uo j_eb]bc� mkbebyf \ h[eZklb ijZ\
q_eh\_dZ� ij_^ijbgbfZ_fuf <_joh\guf dhfbkkZjhf ih ijZ\Zf q_eh\_dZ b P_gljhf
ih ijZ\Zf q_eh\_dZ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� ijh\_^_gbx h[s_kl\_gguo
bgnhjfZpbhgguo dZfiZgbc MijZ\e_gb_f \_joh\gh]h dhfbkkZjZ Hj]ZgbaZpbb H[t_^b�
g_gguo GZpbc ih ^_eZf [_`_gp_\� dhlhju_ kihkh[kl\mxl ih\ur_gbx bgnhjfb�
jh\Zgghklb h[s_kl\_gghklb \ lhf� qlh dZkZ_lky km^v[u [_`_gp_\� F_`^mgZjh^ghc
hj]ZgbaZpbb ljm^Z \ ^_e_ ih^^_j`db ijZ\ jZ[hqbo� \dexqZy jZ[hqbo wfb]jZglh\�
wdkiemZlbjm_fh]h b wg^h]_ggh]h gZk_e_gby b ijZ\ ^_l_c� ijh]jZff_ XGBK?N \
h[eZklb \hkiblZgby \ ^mo_ fbjZ b l_jibfhklb� Z lZd`_ ijh]jZffZf ih lhe_jZglghklb \
k\yab k [he_agvx b bg\Zeb^ghklvx� \dexqZy wib^_fbb <BQ�KIB>�
G� Dhhj^bgZpby b ihimeyjbaZpby ^_yl_evghklb� gZijZ\e_ggZy
gZ kh^_ckl\b_ dmevlmj_ fbjZ
���� =_g_jZevguc k_dj_lZjv Hj]ZgbaZpbb H[t_^bg_gguo GZpbc b =_g_jZevguc
^bj_dlhj XG?KDH ^he`gu kha^Zlv dhhj^bgZpbhgguc f_oZgbaf ^ey hkms_kl\e_gby
^_yl_evghklb k Hj]ZgbaZpb_c H[t_^bg_gguo GZpbc b __ ki_pbZebabjh\Zggufb
mqj_`^_gbyfb� Z lZd`_ k ijZ\bl_evkl\_ggufb� g_ijZ\bl_evkl\_ggufb b ^jm]bfb
f_`ijZ\bl_evkl\_ggufb hj]ZgbaZpbyfb ih hkms_kl\e_gbx wlhc ijh]jZffu ^_ckl\bc�
\dexqZy ]jZnbd jZ[hl b kbkl_fm fhgblhjbg]Z� < jZfdZo dhfi_l_gpbb wlh]h
dhhj^bgZpbhggh]h f_oZgbafZ g_h[oh^bfh kha^Zlv p_gljZevguc nhg^� k ihfhsvx
dhlhjh]h ijZ\bl_evkl\_ggu_ b qZklgu_ mqj_`^_gby fh]ml hdZau\Zlv nbgZgkh\mx
ihfhsv \ hkms_kl\e_gbb _]h ^_yl_evghklb�
���� =hkm^Zjkl\Z�qe_gu ihhsjyxlky \ ^_e_ jZajZ[hldb bo kh[kl\_gguo gZpbhgZevguo
ieZgh\ \ h[eZklb dmevlmju fbjZ� dhlhju_ ^hihegyxl wlm ijh]jZffm ^_ckl\bc b
dhlhju_ iha\heyxl jZkrbjblv h[f_g bgnhjfZpb_c b hiulhf k ^jm]bfb
]hkm^Zjkl\Zfb� j_]bhgZevgufb hj]ZgbaZpbyfb b Hj]ZgbaZpb_c H[t_^bg_gguo GZpbc�
���� >ey lh]h qlh[u hdZaZlv kh^_ckl\b_ ]eh[Zevghfm ^\b`_gbx� Hj]ZgbaZpby
H[t_^bg_gguo GZpbc b ]hkm^Zjkl\Z�qe_gu ^he`gu jZa\b\Zlv iZjlg_jkl\h \ h[eZklb
dmevlmju fbjZ k jZaebqgufb f_`ijZ\bl_evkl\_ggufb� ijZ\bl_evkl\_ggufb b
g_ijZ\bl_evkl\_ggufb hj]ZgbaZpbyfb� \dexqZy jZ[hlgbdh\ h[jZah\Zgby� `mjgZ�
ebklh\� iZjeZf_glu b fwjh\� j_eb]bhagu_ h[sbgu� Z lZd`_ fheh^_`gu_ b `_gkdb_
hj]ZgbaZpbb�
��� ?O��� - page ��
���� Kj_^b fheh^_`b g_h[oh^bfh rbjhdh jZkijhkljZgylv eh]bq_kdb ihke_^h\Z�
l_evgh_ \b^_gb_ dmevlmju fbjZ� hkgh\Zggh_ gZ j_axf_ wlhc ^_deZjZpbb b ijh]jZffu
^_ckl\bc� ih^]hlh\e_ggh]h gZ ^hklmighf yaud_� G_h[oh^bfh ^hg_klb wlh \b^_gb_ ^h
fheh^_`b gZ gZpbhgZevguo yaudZo b \ jZaebqguo nhjfZlZo iml_f bkihevah\Zgby dZd
i_qZlguo� lZd b we_dljhgguo kj_^kl\ bgnhjfZpbb� \dexqZy ij_^eh`_gb_ h lhf� dZdbf
h[jZahf hgb kfh]ml ih^dexqblvky d kbkl_f_ Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
]hkm^Zjkl\Zf�qe_gZf b g_ijZ\bl_evkl\_gguf hj]ZgbaZpbyf \ ^_e_ ^hklb`_gby p_e_c
dmevlmju fbjZ�
���� Hj]ZgbaZpby H[t_^bg_gguo GZpbc fh`_l ih`_eZlv h[ty\blv ]h^ b ^_dZ^m�
ihk\ys_ggu_ dmevlmj_ fbjZ b g_gZkbebx� AZjmqb\rbkv ih^^_j`dhc ih[_^bl_e_c
Gh[_e_\kdhc ij_fbb fbjZ� Z lZd`_ `mjgZebklh\ b ZkkhpbZpbc ba^Zl_e_c� [hjph\ aZ
fbj b ijhkluo ex^_c� =_g_jZevguc k_dj_lZjv [m^_l ijh\h^blv _`_]h^gmx dZfiZgbx
ih hdZaZgbx kh^_ckl\by p_gghklyf� hlghr_gbx b nhjfZf ih\_^_gby \ h[eZklb
dmevlmju fbjZ b g_gZkbeby� WlZ f_jZ \ hkh[_gghklb mkbebeZ [u we_f_gl
\h\e_q_gghklb fheh^uo ex^_c� qlh[u ihfhqv bf ihgylv \ k\h_c ih\k_^g_\ghc `bagb
__ j_Zevgh_� ijZdlbq_kdh_ agZq_gb_ b ihevam� Z lZd`_ qlh[u mf_gvrblv gZkbeb_� Z
ke_^h\Zl_evgh kljZ^Zgby� ijbqbgy_fu_ bf b q_eh\_q_kl\m \ p_ehf�
Ijbf_qZgby
�� Ij_Zf[meZ MklZ\Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
�� Ijhlhdheu ^\Z^pZlv \hkvfhc k_kkbb =_g_jZevghc dhgn_j_gpbb Hj]ZgbaZpbb
H[t_^bg_gguo GZpbc ih \hijhkZf h[jZah\Zgby� gZmdb b dmevlmju� lhf �� j_ahexpby
����� Kj_^g_kjhqgZy kljZl_]by gZ ��������� ]]�
�� Ij_Zf[meZ MklZ\Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih \hijhkZf h[jZah\Zgby�
gZmdb b dmevlmju�
�� Ijhlhdheu ^\Z^pZlv \hkvfhc k_kkbb =_g_jZevghc dhgn_j_gpbb� op� cit.
�� H[jZah\Zgb_� khdjulh_ khdjh\bs_� >hdeZ^� ij_^klZ\e_gguc XG?KDH F_`^m�
gZjh^ghc dhfbkkbb ih h[jZah\Zgbx ^ey OO, \_dZ�XG?KDH� ���� ]�
�� GZr_ l\hjq_kdh_ jZaghh[jZab_� >hdeZ^� ij_^klZ\e_gguc XG?KDH <k_fbjghc
dhfbkkb_c ih dmevlmj_ b jZa\blbx�XG?KDH� ���� ]�
�� Ij_Zf[meZ MklZ\Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
�� Ij_Zf[meZ MklZ\Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih \hijhkZf h[jZah\Zgby�
gZmdb b dmevlmju�
�� <k_h[sZy ^_deZjZpby ijZ\ q_eh\_dZ� klZlvy ��
��� LZf `_� klZlvy ���
��� LZf `_� klZlvy ���
��� ?O��� - page ��
��� K_\bevkdZy ^_deZjZpby ih \hijhkm h gZkbebb�XG?KDH� ���� ]�
��� Ijhlhdheu ^\Z^pZlv \hkvfhc k_kkbb =_g_jZevghc dhgn_j_gpbb� op. cit.
��� Dhi_g]Z]_gkdZy ^_deZjZpby� <k_fbjgZy \klj_qZ ih khpbZevghfm jZa\blbx�
klZlvy ��
��� Dhi_g]Z]_gkdZy ijh]jZffZ ^_ckl\by� <k_fbjgZy \klj_qZ \ bgl_j_kZo khpbZevgh]h
jZa\blby� imgdl ���
��� >hdeZ^ Q_l\_jlhc \k_fbjghc dhgn_j_gpbb `_gsbg �I_dbg� ����� k_gly[jy
���� ]��� Ijbeh`_gb_ II IeZlnhjfu ^_ckl\bc� imgdl ����
��� <k_h[sZy ^_deZjZpby ijZ\ q_eh\_dZ� klZlvy ���
��� <k_fbjgZy ^_deZjZpby ih h[jZah\Zgbx ^ey \k_o �>`hflv_g� ���� ]��� XG?KDH�
���� ]�
��� >hdeZ^ Q_l\_jlhc \k_fbjghc dhgn_j_gpbb `_gsbg� op. cit.,imgdl ����
��� >hdeZ^ Dhgn_j_gpbb Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih hdjm`Zxs_c kj_^_ b
jZa\blbx �Jbh�^_�@Zg_cjh� ���� bxgy ���� ]��� Ijbeh`_gb_ ,,� Ih\_kldZ ^gy gZ XXI\_d� imgdlu ������������
��� J_ahexpby =_g_jZevghc :kkZf[e_b Hj]ZgbaZpbb H[t_^bg_gguo GZpbc :������ h
ihke_^mxs_f \uiheg_gbb j_r_gbc =h^Z Hj]ZgbaZpbb H[t_^bg_gguo GZpbc�
ihk\ys_ggh]h l_jibfhklb�
��� (;���
Annex
IJBEH@?GB?
Im[ebdZpbb XG?KDH� ihk\ys_ggu_ \hijhkm
h ijZ\Zo q_eh\_dZ b dmevlmj_ fbjZ
%HFRPLQJ $ZDUH� +XPDQ 5LJKWV DQG WKH )DPLO\� $ 6WXG\ %DVHG RQ )RXU
&RPPXQLFDWLRQ &DPSDLJQV� 0DUJDUHW *DOODJKHU ������ ,6%1� �������������
;bhf_^bpbgkdZy l_ogheh]by b ijZ\Z q_eh\_dZ
%XLOGLQJ D &XOWXUH RI 3HDFH� 7KH 81(6&2 &RXUULHU� $ :LQGRZ 2SHQ RQ WKH :RUOG�
9RO� ;/9,,,� 1R� �� SS� ����� ������ (� )� 6�
%XLOGLQJ D &XOWXUH RI 3HDFH LQ /DWLQ $PHULFD� 81(6&2 6RXUFHV� 9RO� ���
SS� ���� ������ (� )� 6�
%XOOHWLQ RQ +XPDQ 5LJKWV 7HDFKLQJ �9ROXPH ,; LQ SUHSDUDWLRQ IRU ����������
&XOWXUH RI 'HPRFUDF\� $ &KDOOHQJH IRU 6FKRROV ������ (� )� 6�
&XOWXUH RI 3HDFH� $ 9LDEOH� 8UJHQW DQG 1HFHVVDU\ µ8WRSLD¶� )UDQFLVFR -RVc /DFD\R
3DUDMmQ� 81(6&2�(/6 ������ (� 6�
DmevlmjZ b ^_fhdjZlby� =Zc O_jf_l� XG?KDH�Ba^Zl_evkl\h :ev[bg Fbr_ev
����� ]�� N� J� ;_ehjmkkdbc�
>_deZjZpby b Dhfie_dkgu_ jZfdb ^_ckl\bc ih \hkiblZgbx \ ^mo_ fbjZ� ijZ\
q_eh\_dZ b ^_fhdjZlbb� P\_lgZy [jhrxjZ�XG?KDH ����� ]�� :� N� B� :j� J b D�
'HFODUDWLRQ RQ WKH 5ROH RI 5HOLJLRQV LQ WKH 3URPRWLRQ RI D &XOWXUH RI 3HDFH ������
(� )� 6� DQG WKH )LQDO 5HSRUW RI WKH &RQWULEXWLRQ E\ 5HOLJLRQV WR WKH &XOWXUH RI 3HDFH
0HHWLQJ ������ (� )� 6� 81(6&2�&HQWUH 81(6&2 GH &DWDOXQ\D
>_deZjZpby ijbgpbih\ b Ijh]jZffZ ^_ckl\bc \ ijh^he`_gb_ f_jhijbylbc =h^Z
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc� ihk\ys_ggh]h l_jibfhklb ����� ]�� :� N� B�
:j� J b D�?
'HFODUDWLRQ RQ :RPHQ DQG D &XOWXUH RI 3HDFH ������ (� )� 6�
'HPRFUDWLF &XOWXUH DQG *RYHUQDQFH� /DWLQ $PHULFD RQ WKH 7KUHVKROG RI WKH 7KLUG
0LOOHQQLXP� /XLV $OEDOD�%HUWWUDQG� +LVSDPHULFD� 81(6&2 �('&��������� ������
(GXFDFLóQ HQ 'HUHFKRV +XPDQRV� 7H[WR $XWRIRUPDWLYR ������ 6�
(GXFDWLRQ HW FXOWXUH GH OD SDL[� VéOHFWLRQ ELEOLRJUDSKLTXH PRQGLDOH� 6KDSRXU 5DVVHNK�
,6%1� ������������; ������ )�
(GXFDWLRQ IRU +XPDQ 5LJKWV� 81(6&2�,QWHUQDWLRQDO %XUHDX RI (GXFDWLRQ ������
��� (;���
Annex� SDJH �
(GXFDWLRQ IRU +XPDQ 5LJKWV� $Q ,QWHUQDWLRQDO 3HUVSHFWLYH� 6WXGLHV DQG 6XUYH\V LQ
&RPSDUDWLYH (GXFDWLRQ 6HULHV� 'RXJODV 5D\ ������
(GXFDWLRQ IRU +XPDQ 5LJKWV DQG &LWL]HQVKLS LQ &HQWUDO DQG (DVWHUQ (XURSH� )LQDO
5HSRUW RI WKH 5HJLRQDO 0HHWLQJ LQ 3UDJXH� &]HFK 5HSXEOLF ������
(GXFDWLRQ IRU ,QWHUQDWLRQDO 8QGHUVWDQGLQJ� $Q ,GHD *DLQLQJ *URXQG� ,QWHUQDWLRQDO
%XUHDX RI (GXFDWLRQ ������
([DPSOHV RI 6FKRRO�%DVHG 3URJUDPV ,QYROYLQJ 3HDFHIXO &RQIOLFW 5HVROXWLRQ DQG
0HGLDWLRQ 2ULHQWHG WR 2YHUFRPH &RPPXQLW\ 9LROHQFH� ,QWHUQDWLRQDO &HQWHU IRU &R�
RSHUDWLRQ DQG &RQIOLFW 5HVROXWLRQ� 7HDFKHUV &ROOHJH� &ROXPELD 8QLYHUVLW\� 81(6&2
3URMHFW �('����:6���� ������
)URP D &XOWXUH RI 9LROHQFH WR D &XOWXUH RI 3HDFH� 3HDFH DQG &RQIOLFW ,VVXHV 6HULHV�
,6%1� ������������� ������
$ JXLGH RQ WROHUDQFH �LQ SUHSDUDWLRQ� (� )� 6�
*XLGHOLQHV IRU &XUULFXOXP DQG 7H[WERRN 'HYHORSPHQW LQ ,QWHUQDWLRQDO (GXFDWLRQ
81(6&2�,QWHUQDWLRQDO (GXFDWLRQ ������ (� )� 6�
+DQGERRN 5HVRXUFH DQG 7HDFKLQJ 0DWHULDO LQ &RQIOLFW 5HVROXWLRQ� (GXFDWLRQ IRU +XPDQ
5LJKWV� 3HDFH DQG 'HPRFUDF\ �('����:6���� ������ (� )�
IjZ\h q_eh\_dZ gZ fbj� AZy\e_gb_ =_g_jZevgh]h ^bj_dlhjZ� (SHS-97/WS/6)����� ]�� :� N� B� :j� J b D�
+XPDQ 5LJKWV LQ 8UEDQ $UHDV� ,6%1� �(� ������������; � �)� ����������� ������
(� )�
+XPDQ 5LJKWV� 4XHVWLRQV DQG $QVZHUV� /HDK /HYLQ� �UG HGLWLRQ ������ (� )� 6� 5�
$UPHQLDQ� %HORUXVVLDQ�
7KH ,QWHUQDWLRQDO 'LPHQVLRQV RI +XPDQ 5LJKWV� .DUHO 9DVDN� � 9ROXPHV� ,6%1� �VHW�
������������� � �9RO��� ������������� � �9RO� �� ����������� ������ (� 6�
,QWHUQDWLRQDO 'LPHQVLRQV RI +XPDQLWDULDQ /DZ� 5LFKDUG 5� %D[WHU &ODXGH 3LOORXG
������ (� )� 6�
,QWHUQDWLRQDO /DZ� $FKLHYHPHQWV DQG 3URVSHFWV� 0RKDPPHG %HGMDRXL�
,6%1� ������������� ������ (� )�
,QWHUQDWLRQDO 3UDFWLFDO *XLGH RQ WKH ,PSOHPHQWDWLRQ RI WKH ���� 5HFRPPHQGDWLRQ
FRQFHUQLQJ (GXFDWLRQ IRU ,QWHUQDWLRQDO 8QGHUVWDQGLQJ� &R�RSHUDWLRQ DQG 3HDFH DQG
(GXFDWLRQ UHODWLQJ WR +XPDQ 5LJKWV DQG )XQGDPHQWDO )UHHGRPV ������
,QWURGXFLQJ 'HPRFUDF\� (LJKW\ 4XHVWLRQV DQG $QVZHUV ������ (� )� 6�
��� (;���
Annex� SDJH �
/HDUQLQJ� 7KH 7UHDVXUH :LWKLQ� 5HSRUW WR 81(6&2 RI WKH ,QWHUQDWLRQDO &RPPLVVLRQ RQ
(GXFDWLRQ IRU WKH 7ZHQW\�)LUVW &HQWXU\� -DFTXHV 'HORUV� ,Q[P $O 0XIWL� HW DO� ������
(� )� 6�
7KH /LIH RI 0DKDWPD *DQGKL �D FRORXULQJ ERRN IRU FKLOGUHQ� �(� )� 6�
/LYLQJ 7RJHWKHU ZLWK 2XU 'LIIHUHQFHV� &ROOHFWLRQ RI H[SHULHQFHV RI WKH 1*2V ������
$ PDQXDO RQ KXPDQ ULJKWV HGXFDWLRQ IRU XQLYHUVLWLHV �LQ SUHSDUDWLRQ� (� )� 6� 5�
$ PDQXDO RQ KXPDQ ULJKWV HGXFDWLRQ IRU SULPDU\ DQG VHFRQGDU\ VFKRROV �LQ SUHSDUDWLRQ�
7KH 0HHWLQJ RI &LYLOL]DWLRQV� &RQIOLFW RU 'LDORJXH" $QGUH\ *UDFKHY 9ODGLPLU
/RPHLNR �6+6����:6���� ������ (� )� 5�
0HPRU\ RI WKH )XWXUH� )HGHULFR 0D\RU ������ (� )� 6� 5� &DWDODQ� 5RPDQLDQ�
7KH 1HZ 3DJH� )HGHULFR 0D\RU ������ (� )� 6� 5� $U� ,WDOLDQ�
1RQ�0LOLWDU\ $VSHFWV RI ,QWHUQDWLRQDO 6HFXULW\� 81(6&2 6WXGLHV RQ 3HDFH DQG &RQIOLFW
6HULHV ������
3HDFH� %\ WKH 1REHO 3HDFH 3UL]H /DXUHDWHV� $Q $QWKRORJ\ ������
3HDFH� $ 1HZ %HJLQQLQJ� 7KH 81(6&2 &RXUULHU� $ :LQGRZ 2SHQ RQ WKH :RUOG�
9RO� ;/9,,,� 1R� �� ������ (� )� 6�
3HDFH DQG &RQIOLFW ,VVXHV DIWHU WKH &ROG :DU� 81(6&2 6WXGLHV RQ 3HDFH DQG &RQIOLFW
6HULHV� ,6%1� ������������� ������
3HDFH DQG :DU� 6RFLDO DQG &XOWXUDO $VSHFWV� +_NDQ :LEHUJ� ,6%1� �������������
������
3ULYDF\ DQG +XPDQ 5LJKWV� $Q ,QWHUQDWLRQDO DQG &RPSDUDWLYH 6WXG\� ZLWK 6SHFLDO
5HIHUHQFH WR 'HYHORSPHQWV LQ ,QIRUPDWLRQ 7HFKQRORJ\� -DPHV 0LFKDHO�
,6%1� ������������� ������
7KH 5HFRPPHQGDWLRQ RQ (GXFDWLRQ IRU ,QWHUQDWLRQDO 8QGHUVWDQGLQJ� &R�RSHUDWLRQ DQG
3HDFH� DQG (GXFDWLRQ UHODWLQJ WR +XPDQ 5LJKWV DQG )XQGDPHQWDO )UHHGRPV
�('�0'���� ������ (� )� 6�
5HSRUW RI WKH ([SHUW *URXS 0HHWLQJ RQ :RPHQ¶V &RQWULEXWLRQ WR D &XOWXUH RI 3HDFH
�'5*����:6��� ������ (� )�
$ 5LFKHU 9LVLRQ� 7KH 'HYHORSPHQW RI (WKQLF 0LQRULW\ 0HGLD LQ :HVWHUQ 'HPRFUDFLHV�
&KDUOHV +XVEDQG ������
Wnn_dlb\ghklv rdhe b \hkiblZgb_ \ ^mo_ ^_fhdjZlbb b g_gZkbeby
�('����:6���� ����� ]�� :� N� B� :j� J b D�
��� (;���
Annex� SDJH �
Qm\kl\h ijbgZ^e_`ghklb� jmdh\h^ysb_ ijbgpbiu� dZkZxsb_ky p_gghkl_c
]mfZgbklbq_kdbo b f_`^mgZjh^guo fZkrlZ[h\ h[jZah\Zgby� XG?KDH�KB>J??�
����� ]�� :� N� B� J�
7KH 6HYLOOH 6WDWHPHQW RQ 9LROHQFH� 'DYLG $GDPV� ,6%1� ������������ ������
(� )� 6� $U�
6RXWKHUQ $IULFD DIWHU (OHFWLRQV� 7RZDUGV D &XOWXUH RI 'HPRFUDF\
Km\_j_gguc ]jZ`^Zgbg� H[mq_gb_ ^_fhdjZlbb� Nbebii H`v_� XG?KDH�
����� ]�� :� N� B� :j b J�
7KH 6WUXJJOH DJDLQVW 'LVFULPLQDWLRQ� $ &ROOHFWLRQ RI ,QWHUQDWLRQDO ,QVWUXPHQWV $GRSWHG
E\ WKH 8QLWHG 1DWLRQV 6\VWHP� -DQXV] 6\PRQLGHV �6+6����:6��� ������
7HQ ,GHDV IRU 2EVHUYLQJ WKH ,QWHUQDWLRQDO 'D\ IRU 7ROHUDQFH �� 1RYHPEHU �����
%URFKXUH
7ROHUDQFH LQ ILOPV ������ (� )�
L_jibfhklv� ij_^^\_jb_ fbjZ� Mq_[gh�ij_ih^Z\Zl_evkdh_ jmdh\h^kl\h ih
\hkiblZgbx \ ^mo_ fbjZ� ijZ\ q_eh\_dZ b ^_fhdjZlbb� Ij_^\Zjbl_evgh_ ba^Zgb_
�('����:6��� ����� ]�� :� N� B� J�� >hiheg_gguc \ZjbZgl \ lj_o jZa^_eZo�
ij_^gZagZq_gguc ^ey gZqZevguo b kj_^gbo rdhe b ih^]hlh\db mqbl_e_c�
gZoh^blky \ klZ^bb im[ebdZpbb b ij_^gZagZq_g ^ey ijh^Z`b�XG?KDH
7RZDUGV D &XOWXUH RI 3HDFH� 81(6&2 6RXUFHV� 9RO� 1R� ��� SS� ���� ������ (� )� 6�
81(6&2 DQG D &XOWXUH RI 3HDFH� 3URPRWLQJ D *OREDO 0RYHPHQW� 81(6&2�
�&$%����:6��� ������� 81(6&2 VDOHV LWHP
81(6&2 DQG +XPDQ 5LJKWV� 6WDQGDUG�6HWWLQJ ,QVWUXPHQWV� 0DMRU 0HHWLQJV DQG
3XEOLFDWLRQV� -DQXV] 6\PRQLGHV 9ODGLPLU 9RORGLQ ������
XG?KDH � B^_Ze \ ^_ckl\bb. ����� ]�� :� N� B� :j� J�
81(6&2 <HDUERRN RQ 3HDFH DQG &RQIOLFW 6WXGLHV� ����� 81(6&2�*UHHQZRRG 3UHVV�
,6%1� ������������� ������
7KH 8QLYHUVDO 'HFODUDWLRQ RI +XPDQ 5LJKWV� ��WK $QQLYHUVDU\ ����������� ������
(� )� $U� 5 DQG RWKHU ODQJXDJHV�
9LRODWLRQV RI +XPDQ 5LJKWV� 3RVVLEOH 5LJKWV RI 5HFRXUVH DQG )RUPV RI 5HVLVWDQFH
������ (� )� 6�
9LROHQFH� $ 81(6&2 1RWHERRN ������ (� )�
<deZ^ `_gsbg \ dmevlmjm fbjZ� AZy\e_gb_ �Q_l\_jlZy <k_fbjgZy dhgn_j_gpby
Hj]ZgbaZpbb H[t_^bg_gguo GZpbc ih iheh`_gbx `_gsbg� ����� ]�� :� N� B� :j�
J b D�
��� (;���
Annex� SDJH �
:RUOG 'LUHFWRU\ RI +XPDQ 5LJKWV 5HVHDUFK DQG 7UDLQLQJ ,QVWLWXWLRQV� �UG HGLWLRQ
�DQQXDO�� ,6%1� ������������� ������ (� )� 6�
:RUOG 'LUHFWRU\ RI 3HDFH 5HVHDUFK DQG 7UDLQLQJ ,QVWLWXWLRQV� �WK HGLWLRQ �ELHQQLDO��
,6%1� ������������� ������ (� )� 6�
:RUOG 'LUHFWRU\ RI 5HVHDUFK DQG 7UDLQLQJ ,QVWLWXWLRQV LQ ,QWHUQDWLRQDO /DZ� �UG HGLWLRQ�
�ELHQQLDO�� ,6%1� ������������; ������
H[gh\e_gu ih ^hdeZ^m =_g_jZevgh]h ^bj_dlhjZ XG?KDH hl ���� ]�
�Hj]ZgbaZpby H[t_^bg_gguo GZpbc� ^hdmf_gl :��������
BBBBBBBBBBBBBBBBBBBBBBBB
Ijbf_qZgb_� <ur_mdZaZggu_ im[ebdZpbb ba^Zgu gZ Zg]ebckdhf yaud_� _keb g_
mdZaZgh bgZq_�