Блок управления приводом телескопа Инструкция по эксплуатации
advertisement
)6 ;ehd mijZ\e_gby ijb\h^hf l_e_kdhiZ Bgkljmdpby ihwdkiemZlZpbb $6752(/(&7521,&Bg`0LFKDHO.RFK 5DDEHVWU'+HU]EHUJ*HUPDQ\ L_ek ^h 87 gZ Zg]ebckdhf bebg_f_pdhf yaudZo NZdkdjm]ehkmlhqgh (PDLODVWURHOHFWURQLF#WRQOLQHGH ZZZDVWURHOHFWURQLFGH <\_^_gb_ Kbkl_fZ f_gx Ijbf_ju aZ^Zgby iZjZf_ljh\\ kbkl_f_f_gx Ih^dexq_gb_ imevlZ mijZ\e_gby Ih^dexq_gb_ ^\b]Zl_e_c Bklhqgbd iblZgby Dghidb bbg^bdZlhj Hihjgu_ h[t_dlu Nmgdpby ³GZ\_klb´³*R7R´ Dhjj_dpby i_jbh^bq_kdhchrb[db 3(& Kdhjhklb gZ\_^_gby Ke_`_gb_ aZdhf_lZfb I_j_gZagZq_gb_ dghihdgZijZ\e_gby Nmgdpby lZcf_jZ Wdhghfbqguc j_`bf Ih^dexq_gb_ Z\lh]b^Z &&']b^bjh\Zgb_ Ih^dexq_gb_ d&20ihjlm dhfivxl_jZ Ihbkd h[t_dlh\ih kibjZevghcljZ_dlhjbb J_`bf ³^_fhgkljZpbb´ Fhglbjh\dZ g_f_pdh]hlbiZ Ih^dexq_gb_ rZ]h\uo ^\b]Zl_e_c AZ^Zgb_ iZjZf_ljh\^\b]Zl_e_c Ih^dexq_gb_ ^Zlqbdh\m]eh\h]h iheh`_gby AZ^Zgb_ gZijZ\e_gbc^\b`_gby Kibkhd hihjguoa\_a^ =j_q_kdbc ZenZ\bl Kibkhd a\_a^k kh[kl\_ggufbbf_gZfb OZjZdl_jbklbdb g_dhlhjuolbih\ fhglbjh\hd GZklhysZy bgkljmdpbykhklZ\e_gZ ^eyijh]jZffgh]h h[_ki_q_gby \_jkbb <\_^_gb_ Imklv <Zkg_ h[_kdmjZ`b\Z_ljZaf_j gZklhys_c bgkljmdpbb±g_l g_h[oh^bfhklbqblZlv __ ³hl dhjdb^h dhjdb´ Qlh[u gZqZlvjZ[hlm k)6^hklZlhqgh kgZqZeZ bamqblvjZa^_eu b Ijh]jZffgh_ h[_ki_q_gb_)6lsZl_evgh l_klbjh\Zehkv g_kdhevdbfbwdki_jlZfb?keb <u \k_`_ h[gZjm`bl_\ g_fdZdb_eb[h hrb[dbih`ZemcklZkhh[sbl_ h[wlhf Z\lhjm b ij_^hklZ\vl_ke_^mxsmx ^hihegbl_evgmx bgnhjfZpbx Ghf_j \_jkbbijh]jZffgh]h h[_ki_q_gby dhlhjuc hlh[jZ`Z_lkygZ bg^bdZlhj_kjZam ihke_ \dexq_gby)6 Iheguc i_j_q_gv\k_o aZ^ZgguoiZjZf_ljh\ k boagZq_gbyfb Ih^jh[gh_ hibkZgb_lh]hdZd fh`gh \hkijhba\_klb ihy\e_gb_hrb[db :\lhj [m^_ljZ^ ihemqblvex[u_ <Zrb aZf_qZgby bij_^eh`_gbydZkZxsb_ky jZ[hlu )6 J_dhf_g^m_lky gZqZlvhagZdhfe_gb_ kkbkl_fhc )6\ k\_leh_\j_fy kmlhdqlh[u [uehe_]q_ hk\hblvky kijb[hjhf bbamqblv ijbgpbiu jZ[hlu kgbf Ih^dexq_gb_ imevlZ mijZ\e_gby Imevl mijZ\e_gbyg_h[oh^bfh ih^dexqblvd dhglZdlghfm jZat_fm[ehdZ>ey ij_^hl\jZs_gby kemqZcgh]hjZat_^bg_gby j_dhf_g^m_lky aZdj_iblvjZat_f ^\mfy \bglZfb JZat_fu Z\lh]b^Z >Zlqbdb Imevl D KHFihjlm ih\hjhlZ mijZ\e_gby Ih^dexq_gb_ ^\b]Zl_e_c ?keb <uijbh[j_eb \ $VWUR(OHFWURQLF]hlh\u_ kh_^bgbl_evgu_ dZ[_eblh ijhklh ijbkh_^bgbl_ bod )6b fhglbjh\d_<Zr_]h l_e_kdhiZE_\uc jZat_fij_^gZagZq_g ^ey ijb\h^Z ijyfh]h\hkoh`^_gby f_`^mgZjh^gZy Z[[j_\bZlmjZ 5$Z ijZ\uc±^ey ijb\h^Z kdehg_gby '(&Ihfgbl_qlh \bglujZat_fh\ ij_^hl\jZsZxl bokemqZcgh_ jZat_^bg_gb_ < kemqZ__keb <uohlbl_ jZ[hlZlvk kZfh^_evghc fhglbjh\dhcbeb <uba]hlh\beb dZ[_eb kZfhklhyl_evghih`ZemcklZbamqbl_ iij_`^_ q_fijhba\h^blv ih^dexq_gb_ ^\b]Zl_e_c<ijhq_f<u fh`_l_bkiulZlv )6 ^Z`_ b[_a ih^dexq_gguo^\b]Zl_e_c Ij_^mij_`^_gb_ GZklhyl_evgh g_ j_dhf_g^m_lky ih^dexqZlv b hldexqZlv ^\b]Zl_eb ijb\dexq_gghf [ehd_ )6Wlb ^_ckl\by fh]mlijb\_klb d ih\j_`^_gbx ijb[hjZ <udexqZl_ev iblZgby b ij_^hojZgbl_ev JZat_fu ^ey ^\mo rZ]h\uo ^\b]Zl_e_c D bklhqgbdm iblZgby <hevl Bklhqgbd iblZgby Ih^dexqbl_ djZkgucb q_jgucrl_d_ju d [ZlZj__ Zddmfmeylhjh\gZijy`_gb_f <hevl beb dklZ[bebabjh\Zgghfm bklhqgbdm ihklhyggh]h lhdZk \uoh^gufgZijy`_gb_f <hevl DJ:KGUC IEXKQ?JGUC FBGMK Ij_^mij_`^_gb_ f_lZeebq_kdbc dhjimk[ehdZ bf__l \gmlj_gg__kh_^bg_gb_ kfbgmkh\uf ijh\h^hf bklhqgbdZiblZgby JZ[hq__ gZijy`_gb_fh`_l [ulv\ ij_^_eZohl ^h <hevl hl ^h <hevl ^ey <hevlh\hc fh^bnbdZpbb[ehdZG_ ^himkdZcl_ bkihevah\Zgb_ g_klZ[bebabjh\Zgguobklhqgbdh\ iblZgby\uoh^gh_ gZijy`_gb_dhlhjuo qZklh agZqbl_evgh ij_\urZ_lij_^_e \ <hevl Bkihevah\Zgb_ bklhqgbdh\k gZijy`_gb_f f_gvrbfq_f <hevl fh`_lijb\h^blv d mf_gvr_gbx fZdkbfZevghckdhjhklb gZ\_^_gby ?keb <uhrb[ebkv kiheyjghklvx ih^dexq_gby bklhqgbdZ iblZgbywlh ijb\_^_ld i_j_]hjZgbx ieZ\dh]hij_^hojZgbl_ey [ehdZ gh g_d \uoh^mwe_dljhgbdb bakljhy>ey aZf_gu <ufh`_l_ bkihevah\ZlvieZ\db_ ij_^hojZgbl_eb klhdhf aZsblu^h : < fh^bnbdZpbb)6kh \kljh_gguf ij_h[jZah\Zl_e_f gZijy`_gbyg_h[oh^bfh bkihevah\Zlv ij_^hojZgbl_evgZ : Lhd ihlj_[e_gby)6fh`_l gZoh^blvky\ ij_^_eZo hl : ^h:\ aZ\bkbfhklbhl lhdh\ ^\b]Zl_e_cgZijy`_gby iblZgby khijhlb\e_gby h[fhlhd^\b]Zl_e_c bhl yjdhklb bg^bdZlhjZ Ijbf_qZgb_ < )6^ey nhjfbjh\Zgby jZ[hqbo lhdh\rZ]h\uo ^\b]Zl_e_c bkihevamxlky bfimevkgu_ ij_h[jZah\Zl_ebWlh ijb\h^bld lhfmqlh kmffZ lhdh\\k_o h[fhlhd^\b]Zl_e_c fh`_l [ulv hsmlbfh f_gvr_q_f h[sZy\_ebqbgZ ihlj_[ey_fh]h [ehdhflhdZDjhf_ wlh]h fh`_l gZ[ex^Zlvkym\_ebq_gb_ ihlj_[ey_fh]h lhdZ ijbkgb`_gbb iblZxs_]hgZijy`_gby Ih^dexq_gb_ ihke_^h\Zl_evghk h[fhldZfb j_abklhjh\ g_y\ey_lky g_h[oh^bfuf^Z`_ _keb h[fhldbbf_xl hq_gvfZeh_ khijhlb\e_gb_ ihklhygghfm lhdm?keb <u\k_ `_bkihevam_l_ ihke_^h\Zl_evgh ih^dexq_ggu_j_abklhjuwlh fh`_l \ua\Zlvkgb`_gb_ fZdkbfZevghckdhjhklb gZ\_^_gby Dghidb bbg^bdZlhj M^_j`b\Zcl_ imevlmijZ\e_gby lZdqlh[u bg^bdZlhj [ue\ _]h\_jog_c qZklb x \uau\Z_l nmgdpbx³dZjfZggh]h nhgZjy´ Ijh\_jvl_ __jZ[hlm GZ`Zlb_ 6+,)7kh\f_klgh k^jm]bfb dghidZfb ijb\h^bld \uah\m^hihegbl_evguo nmgdpbc GZijbf_j³gZ`fbl_ 6+,)71´hagZqZ_l kgZqZeZ gZ`fbl_b m^_j`b\Zcl_dghidm 6+,)7 aZl_f gZ`fbl_dghidm ³1´ Dhf[bgZpbb ³6+,)71´b ³6+,)76´iha\heyxl \u[jZlv kdhjhklvgZ\_^_gby baiylb ^hklmiguo agZq_gbc x <dexqbl_ )6GZ dhjhldh_\j_fy ihke_ \dexq_gby gZbg^bdZlhj_ ihy\blkyghf_j \_jkbb ijh]jZffgh]hh[_ki_q_gbyIhke_ wlh]h ijb[hj i_j_oh^bl\ jZ[hqbcj_`bfqlh ^he`gh khijh\h`^Zlvky f_^e_gguf\jZs_gb_f ijb\h^Z ijyfh]h \hkoh`^_gby < \_jog_ckljhd_ bg^bdZlhjZhlh[jZ`Z_lky Ijyfh_ \hkoh`^_gb_QZkufbgmlu b^_kylu_ ^heb fbgmlu < gb`g_ckljhd_ bg^bdZlhjZhlh[jZ`Z_lky Kdehg_gb_ QZku bfbgmlu Kbf\heu \ijZ\hf gb`g_fm]em bg^bdZlhjZ h[hagZqZxl " 0 ( Hlh[jZ`Z_fu_ dhhj^bgZlug_dhjj_dlgu ldkbkl_fZ dhhj^bgZll_e_kdhiZ _s_ g_ [ueZ³ijb\yaZgZ´d hihjguf h[t_dlZf Hlh[jZ`Z_fu_ dhhj^bgZlu\uqbkeyxlky ih iheh`_gbx rZ]h\uo^\b]Zl_e_c Hlh[jZ`Z_fu_ dhhj^bgZlu\uqbkeyxlky ih ^ZlqbdZf m]eh\h]hiheh`_gby Ijh\_jvl_ jZ[hlmq_luj_o dghihd jZkiheh`_gguo gZi_j_^g_c iZg_ebimevlZ mijZ\e_gby ^Ze__ ihl_dklm ±dghidb gZijZ\e_gby LhqdZ gZ\_^_gbyl_e_kdhiZ 1\\_jo ^\b]Z_lky \k_\_jghf gZijZ\e_gbbm\_ebq_gb_ kdehg_gby LhqdZ gZ\_^_gbyl_e_kdhiZ 6\gba ^\b]Z_lky \x`ghf gZijZ\e_gbb mf_gvr_gb_ kdehg_gby LhqdZ gZ\_^_gbyl_e_kdhiZ ( \e_\h ^\b]Z_lky \\hklhqghf gZijZ\e_gbbm\_ebq_gb_ ijyfh]h \hkoh`^_gby :\ijZ\h LhqdZ gZ\_^_gbyl_e_kdhiZ ^\b]Z_lky \aZiZ^ghf gZijZ\e_gbbmf_gvr_gb_ ijyfh]h \hkoh`^_gby ;_amkeh\gh<u fh`_l_gZ\h^blv l_e_kdhi h^gh\j_f_ggh ih^\mf hkyfgZ`bfZy h[_ dghidbkhhl\_lkl\mxsb_ lj_[m_fuf gZijZ\e_gbyf DghidZgZoh^ysZyky gZe_\hc iZg_ebimevlZ mijZ\e_gbygZau\Z_lky dghidhc 6+,)7b \uihegy_l ke_^mxsb_nmgdpbb x GZ`Zlb_ bm^_j`Zgb_ 6+,)7\ l_q_gb_ k ijb hlims_gguohklZevguo dghidZo x x ³6KLIW1´\dexqZ_l ke_^mxsmx[he__ \ukhdmx kdhjhklvgZ\_^_gbyAgZq_gb_ gh\hc kdhjhklbdjZldh\j_f_ggh hlh[jZ`Z_lky gZbg^bdZlhj_ ³6KLIW6´\dexqZ_l ke_^mxsmx[he__ gbadmx kdhjhklvgZ\_^_gbyAgZq_gb_ gh\hc kdhjhklb djZldh\j_f_gghhlh[jZ`Z_lky gZ bg^bdZlhj_ ³6KLIW(´ pbdebq_kdb \dexqZ_lh^bg ba ke_^mxsbo j_`bfh\ke_`_gby \u[jZgguc j_`bf djZldh\j_f_gghhlh[jZ`Z_lky gZ bg^bdZlhj_ 0RRQ 6XQ &RPHW (DUWK 6WDUV 0RRQ Ke_`_gb_ aZEmghcbaf_g_gb_ PV aZ kmldb Ke_`_gb_ aZKhegp_fPVaZ kmldb Ijhba\hevgu_ kdhjhklbke_`_gby aZ^Zxlky ^eyh[_bo hk_ckf LZd`_ fh`_lbkihevah\Zlvky ^ey lhqghc ih^kljhcdbkdhjhklb ijb\h^Z ijyfh]h \hkoh`^_gby Ke_`_gb_ \udexq_ghJ_`bf fh`_l bkihevah\Zlvky ^eygZkljhcdb hilbdb b gZ[ex^_gbyaZ a_fgufbh[t_dlZfb \ ^g_\gh_ \j_fy GhjfZevgh_ ke_`_gb_aZ a\_a^gufb h[t_dlZfb b l^ Ih mfheqZgbxihke_ \dexq_gby)6 Z\lhfZlbq_kdb \dexqZ_lkyj_`bf ³6WDUV´ Dhf[bgZpby ³6+,)7:´ iha\hey_l \hclb\ lZd gZau\Z_fmx kbkl_fmf_gxdZd hibkZgh\ i IhdZ <ugZoh^bl_kv \kbkl_f_ f_gxbg^bdZlhj g_ hlh[jZ`Z_ll_dmsb_ dhhj^bgZluH^gZdh <u \ ex[hcfhf_gl fh`_l_\uclb bakbkl_fu f_gx gZ`Z\ ³(´h^bg bebg_kdhevdh jZaIhke_ \uoh^Z bakbkl_fu f_gxbg^bdZpby l_dmsbo dhhj^bgZl \hah[gh\ey_lky Kbkl_fZ f_gx Ijbf_qZgb_ ?keb <ubkiulu\Z_l_ ljm^ghklbk l_klbjh\Zgb_f nmgdpbc f_gxijbf_ju ijb\_^_ggu_ \ifh]ml <Zfihfhqv IhdZ <ugZoh^bl_kv \kbkl_f_ f_gxdghidb gZijZ\e_gbc \uihegyxlke_^mxsb_ nmgdpbb 1\\_jo 6\gba (\e_\h :\ijZ\h < kbkl_f_f_gx <ufh`_l_ \u[bjZlvke_^mxsb_ nmgdpbb 5HI2EM *RWR Iexk beb\u[hj ke_^mxs_c nmgdpbb Fbgmk beb\u[hj ij_^u^ms_c nmgdpbb 3(& <\h^khojZg_gb_ gh\h]h agZq_gby \l_dms_c nmgdpbb /RZ&XUU <uoh^ banmgdpbb [_akhojZg_gby Ijb g_h[oh^bfhklbbaf_gblv g_dhlhjh_ qbke_ggh_ agZq_gb_<u fh`_l_gZ`Zlv b m^_j`b\Zlv dghidb³1´beb ³6´Ijb wlhf [m^_l ijhbkoh^blvZ\lhih\lhj dghidbijb\h^y d baf_g_gbxagZq_gby kih\ur_gghc kdhjhklvx BlZdihke_ gZ`Zlby³6+,)7:´<u ihiZ^Z_l_ \ kbkl_fmf_gxZ bf_ggh\ i_j\mxnmgdpbx f_gx ³5HI2EM´qlh hlh[jZ`Z_lkygZ bg^bdZlhj_ K ihfhsvxdghihd ³1´b ³6´<u fh`_l_\u[jZlv ex[mx ^hklmigmxnmgdpbx kbkl_fuf_gxijbq_f dghidZ ³1´\u[bjZ_l ke_^mxsmxnmgdpbx f_gx Z dghidZ³6´±ij_^u^msmx nmgdpbx Ihke_ lh]hdZd gm`gZy<Zf nmgdpbyf_gx \u[jZgZ<u fh`_l_\hclb \g__gZ`Z\ dghidm ³:´\ijZ\h <u fh`_l_\ ex[hcfhf_gl \uclbba kbkl_fu f_gxgZ`Z\ dghidm³(´\e_\hh^bg beb g_kdhevdh jZa %ULJKWQ /DPS 6SLUDO 5DWHV 0RWB5$ 0RWB'H 0LVF Bkihevamcl_ wlmnmgdpbx ihke_ gZ\_^_gby l_e_kdhiZgZ ba\_klgmx a\_a^m beb^jm]hc g_[_kguch[t_dl ^ey dhjj_dlbjh\dbdhhj^bgZl hlh[jZ`Z_fuo gZbg^bdZlhj_Kf i WlZ nmgdpbyiha\hey_l gZ\_klb l_e_kdhi gZlj_[m_fuc h[t_dl h[t_dl F_kkv_1*&,&Khegp_ ieZg_lma\_a^mbeb \lhqdm k aZ^Zggufb dhhj^bgZlZfbKf i Dhjj_dpby i_jbh^bq_kdhchrb[db Kfi Ih^kljhcdZ yjdhklbbg^bdZlhjZ Ih^kljhcdZ yjdhklb³nhgZjy´ Ihbkd h[t_dlZih kibjZevghc ljZ_dlhjbbKfi Wdhghfbqguc j_`bfh[Z ^\b]Zl_ey b bg^bdZlhj\udexqZxlkyh^gZdh dhjj_dlgu_ dhhj^bgZluhklZxlky \ iZfylb [ehdZKfi Ih^kljhcdZ iylbkdhjhkl_c gZ\_^_gbyKfi Wlhl imgdlf_gx kh^_j`bl g_kdhevdh nmgdpbcgZkljhcdb iZjZf_ljh\ ijb\h^Zijyfh]h \hkoh`^_gbyKfi Wlhl imgdlf_gx kh^_j`bl g_kdhevdh nmgdpbcgZkljhcdb iZjZf_ljh\ ijb\h^Zkdehg_gby Wlhl imgdlf_gx kh^_j`bl g_kdhevdh ^hihegbl_evguonmgdpbc Ba f_gx³0LVF´<u fh`_l_\u[jZlv ke_^mxsb_ ^hihegbl_evgu_ nmgdpbb &RPHWB5$ &RPHWB'H (QFRGHU /LPLW 7HHWK 3(&B'HFO %XWWRQV /; /DQJXDJH 7LPHU ([SRVXUH Kdhjhklv baf_g_gbyijyfh]h \hkoh`^_gby ^eyke_`_gby aZ dhf_lZfb \ fbgmlZoaZ kmldb Kfi Kdhjhklv baf_g_gbykdehg_gby ^ey ke_`_gby aZdhf_lZfb \ m]e fbgmlZo aZkmldb Kfi Iha\hey_l aZ^Zlvbkihevamxlky beb g_l^Zlqbdb m]eh\h]h iheh`_gbyKfi >himklbfh_ jZkoh`^_gb_f_`^m ihdZaZgbyfb ^Zlqbdh\b iheh`_gb_f rZ]h\uo ^\b]Zl_e_c\ ]jZ^mkZo Kfi Dhebq_kl\h am[v_\q_j\yqgh]h dhe_kZ ijb\h^Zijyfh]h \hkoh`^_gby bkihevam_lky ^ey dhjj_dpbb i_jbh^bq_kdhchrb[db 3(&Kfi <uihegylv dhjj_dpbxi_jbh^bq_kdhc hrb[db 3(&ijb\h^Z kdehg_gby^Z beb g_lKfi I_j_gZagZq_gb_ dghihd gZijZ\e_gbyKfi NhjfZl ^ZgguoklZg^ZjlZ /; <u[hj f_`^mdhjhldbf nhjfZlhf ++000beb ^ebgguf++0066 :gZeh]bqgh dhfZg^_ 8l_e_kdhiZ 0HDGH /; <u[hj \dZq_kl\_ yaudZbgl_jn_ckZ Zg]ebckdh]h (QJOLVKbeb g_f_pdh]h *HUPDQ Nmgdpby lZcf_jZ^Z bebg_l Kfi <j_fy \u^_j`dbhl ^h fbg Kfi G_h[oh^bfh hlf_lblvqlh agZq_gby\\_^_gguo iZjZf_ljh\ khojZgyxlky\ iZfylb[ehdZ ^Z`_ ijb hldexq_gbbbklhqgbdZ iblZgby AZf_qZgb_ ihj_]mebjh\d_ yjdhklbbg^bdZlhjZ DZd ijZ\behihevah\Zl_eb bkihevamxl)6\ ghqgh_ \j_fyb \u[bjZxlgbadmx yjdhklv bg^bdZlhjZIjb \dexq_gbb)6 \ ^g_\gh_ \j_fygbadZy yjdhklvbg^bdZlhjZ aZljm^gy_l gZ\b]Zpbx ihkbkl_f_ f_gxb\ qZklghklb [u\Z_l ljm^ghih\ukblv yjdhklvq_j_a kbkl_fm f_gx< wlhckblmZpbb j_dhf_g^m_lky bkihevah\Zlv ki_pbZevgmxnmgdpbx m^_j`b\Zcl_ dghidm ³1´gZ`Zlhc ijb\dexq_gbb )6aZl_f hlimklbl_dghidmWlh ijb\_^_ld \u[hjm fZdkbfZevghcyjdhklb bg^bdZlhjZ Ijbf_ju aZ^ZgbyiZjZf_ljh\ \ kbkl_f_f_gx Ijbf_j Ij_^iheh`bf<u ohlbl_baf_gblv yjdhklv bg^bdZlhjZIjb wlhfkbkl_fZ gZoh^blky\ bkoh^ghf iheh`_gbbb bg^bdZlhjhlh[jZ`Z_l l_dmsb_ dhhj^bgZlu?keb wlhg_ lZd gZ`bfZcl_ dghidm³(´\e_\h^h l_oihj ihdZ <ug_ m\b^bl_dhhj^bgZlu gZ bg^bdZlhj_ L_i_jv gZ`fbl_³6+,)7:´\ijZ\hBg^bdZlhj ihdZau\Z_l ³5HI2EM´\ \_jog_ckljhd_ GZ`fbl_ ³1´\\_job <um\b^bl_ ³*RWR´\ \_jog_c kljhd_bg^bdZlhjZKgh\Z gZ`fbl_ ³1´b ihdZaZgbybg^bdZlhjZ baf_gylkygZ ³3(&´GZ`fbl_ ³1´_s_ jZab <um\b^bl_ gZ bg^bdZlhj_ ³%ULJKWQ´qlh khhl\_lkl\m_l gm`ghc <ZfnmgdpbbGZ`fbl_ ³:´\ijZ\h qlh[u \hclb\ wlmnmgdpbx< gb`g_ckljhd_ bg^bdZlhjZ hlh[jZ`Z_lkyqbkeh hl^h khhl\_lkl\mxs__ l_dms_cyjdhklb>ey lh]h qlh[u baf_gblvyjdhklvgZ`bfZcl_ ³1´ \\_jobeb ³6´\gbaIhke_ lh]hdZd lj_[m_fuc mjh\_gvyjdhklb [m^_l\u[jZg gZ`fbl_ ³:´^ey khojZg_gby<Zr_]h \u[hjZb \uoh^Z bakbkl_fu f_gx ?keb <uohlbl_ hldZaZlvkyhl khojZg_gby gh\h]h mjh\gyyjdhklbgZ`fbl_ dghidm³(´ \f_klh dghidb³:´ Ijbf_j Ij_^iheh`bf<u ohlbl_aZ^Zlv gh\h_agZq_gb_ dhebq_kl\Z am[v_\q_j\yqgh]h dhe_kZ\ ijb\h^_ ijyfh]h\hkoh`^_gby Ijb wlhfkbkl_fZ gZoh^blky\ bkoh^ghf iheh`_gbbb bg^bdZlhjhlh[jZ`Z_l l_dmsb_ dhhj^bgZlu?keb wlhg_ lZdgZ`bfZcl_ dghidm ³(´\e_\h^h l_oihjihdZ <ug_ m\b^bl_ dhhj^bgZlugZ bg^bdZlhj_ L_i_jv gZ`fbl_³6+,)7:´\ijZ\hBg^bdZlhj ihdZau\Z_l ³5HI2EM´\ \_jog_ckljhd_ GZ`bfZcl_ ³1´ihdZ <ug_ m\b^bl_gZ bg^bdZlhj_ ³0LVF´ L_i_jv gZ`fbl_³:´qlh[u \hclb\ wlhlimgdl f_gxIhdZaZgby bg^bdZlhjZbaf_gylky gZ ³&RPHWB5H´ LZd dZdwlh _s_g_ lZnmgdpbydhlhjZy <Zf gm`gZgZ`bfZcl_ ³1´^h l_oihjihdZ g_ m\b^bl_ gZbg^bdZlhj_ ³7HHWK´Ihkdhevdm wlh bf_ggh lZnmgdpbydhlhjZy <Zfgm`gZ gZ`fbl_ ³:´\ijZ\hqlh[u \hclb\ g__< gb`g_c kljhd_^bkie_y hlh[jZ`Z_lkyqbkeh hl ^h ±wlh dhebq_kl\ham[v_\ gZoh^ys__ky \iZfylb )6 <u fh`_l_baf_gblv wlhagZq_gb_ dghidZfb³1´ beb ³6´\ khhl\_lkl\bbk iZjZf_ljZfb<Zr_]h ijb\h^Z M^_j`b\Zcl_ dghidb³1´beb ³6´qlh[u bkihevah\Zlv Z\lhih\lhj MklZgh\b\ gm`gmx<Zf \_ebqbgmgZ`fbl_ ³:´ ^ey khojZg_gbygh\h]h agZq_gbyL_i_jv <u hiylv gZoh^bl_kv\ kbkl_f_f_gxZ bf_ggh\ nmgdpbb ³0LVF´ >Ze__ <ufh`_l_ x x x DghidZfb ³1´b ³6´\u[jZlv ^jm]mx nmgdpbx Dghidhc ³(´\_jgmlvky \]eZ\gh_ f_gx]^_ dghidZfb ³1´b ³6´fh`gh hkms_kl\eylv \u[hj nmgdpbb]eZ\gh]h f_gx >\mdjZlguf gZ`Zlb_f³(´\uclb bakbkl_fu f_gx b\_jgmlvky \j_`bf hlh[jZ`_gby dhhj^bgZl Nmgdpby ³5HI2EM´ < dZq_kl\_hihjguo h[t_dlh\<u fh`_l_ bkihevah\Zlv a\_a^ yjq_PKibkhd wlbo a\_a^ ijb\_^_g\ i DghidZfb ³1´\\_job ³6´\gbagZc^bl_ lj_[m_fuc h[t_dlaZl_f gZ`fbl_dghidm ³:´ \ijZ\h Ihke_ wlh]h)6aZijhkbl m<Zk l_dms__ iheh`_gb_ fhglbjh\dbg_f_pdh]h lbiZkf i <Z`gh aZ^Zlvdhjj_dlgh_ iheh`_gb_ <HKLHDA:I:> (: < dhgp_kibkdZ a\_a^gZoh^ylky ljb ^hihegbl_evguo nmgdpbb M^h[gh bkihevah\Zlvdghidm ³6´qlh[u ihiZklv kjZam\ dhg_pkibkdZ 6XQ Khegp_?^bgkl\_gguc hihjguc h[t_dl^hklmiguc \^g_\gh_ \j_fy >ey bkihevah\Zgbywlhc nmgdpbb\ i_j\uc jZaihke_ \dexq_gby)6 g_h[oh^bfh aZ^Zlvl_dmsmx ^Zlmb l_dms__ \k_fbjgh_\j_fy 87 5$'H Ex[hc h[t_dlQlh[u bkihevah\Zlv _]h dZdhihjguc<Zf g_h[oh^bfh [m^_l \\_klb_]h dhhj^bgZlu 2EMHFW H[t_dldhlhjuc bkihevah\Zeky ihke_^gbf \nmgdpbb ³*R7R´kf i Bkihevamcl_ wlmnmgdpbx ^ey j_kbgojhgbaZpbb dhhj^bgZl bg^bdZlhjZ Nmgdpby ³GZ\_klb´³*R 7R´ Bkihevamy wlmnmgdpbx<u fh`_l_ Z\lhfZlbq_kdb gZ\_klbl_e_kdhi gZlj_[m_fuc h[t_dl Ij_`^_ q_fbkihevah\Zlv wlmnmgdpbx<Zf g_h[oh^bfh x x Hlj_]mebjh\Zlv wd\ZlhjbZevgmxfhglbjh\dm lZdqlh[u __iheyjgZy hkv[ueZ gZijZ\e_gZ gZIhexk FbjZHrb[dZ j_]mebjh\db [m^_lijb\h^blv dhrb[d_ gZ\_^_gby l_e_kdhiZijbq_f q_f^Zevr_ gZoh^blky lj_[m_fuch[t_dl hlhihjgh]h l_f kms_kl\_gg__fh`_l [ulvhrb[dZ gZ\_^_gby Nmgdpby ³5HI2EM´^he`gZ [ulv\uiheg_gZ ih djZcg_cf_j_h^bg jZaIjb wlhf kbf\heu ³0´beb ³(´^he`gu hlh[jZ`Zlvky\ ijZ\hf gb`g_fm]em bg^bdZlhjZ Ijb \oh^_\ nmgdpbx³*RWR´khh[s_gb_ ³REMHFW´ihy\ey_lky \\_jog_c kljhd_ bg^bdZlhjZBkihevamcl_ dghidb³1´beb ³6´ ^ey \u[hjZh^gh]h badZlZeh]h\ 0HVVLHU <k_ h[t_dlh\ dZlZeh]ZF_kkv_ ,& h[t_dlh\ ,& 1*& 3ODQHW 5H'H 6WDU h[t_dlh\ 1*&yjq_ P Khegp_ bieZg_l AZ^Zgb_ dhhj^bgZllhqdb gZ\_^_gby a\_a^ yjq_P Ihke_ \u[hjZgm`gh]h dZlZeh]ZgZ`fbl_ dghidm ³:´\ijZ\h L_i_jv <ufh`_l_ \u[jZlvghf_j h[t_dlZb ih^l\_j^blv _]hgZ`Zlb_f dghidb³:´ \ijZ\hihke_ q_]hl_e_kdhi gZqg_l Z\lhfZlbq_kdb gZ\h^blvkygZ \u[jZgguch[t_dl gZ gZb[hevr_ckdhjhklb b hklZgh\blkyih hdhgqZgbb gZ\_^_gby ?keb <uohlbl_ gZ\_klbl_e_kdhi gZh^gm ba ieZg_l<Zf g_h[oh^bfh[m^_l \\_klbl_dmsmx ^Zlm b\k_fbjgh_ \j_fy87 <uqbke_gb_ dhhj^bgZlieZg_l hkgh\ZghgZ mijhs_gghc l_hjbbg_\hafms_ggh]h ^\b`_gbyb bf__l g_kebrdhf \ukhdmxlhqghklvH^gZdh lhqghklb jZkq_lZ\iheg_ ^hklZlhqghqlh[u e_]dh gZclblj_[m_fmx ieZg_lm <Z`gu_ aZf_qZgby Ijb gZ\_^_gbb ljm[Z beb ^jm]b_ qZklb l_e_kdhiZ fh]mlaZ^_lv ^_lZebfhglbjh\db beb hdjm`Zxsb_ ij_^f_luMkljhckl\h mijZ\e_gby _kl_kl\_gghg_ fh`_lhij_^_eblv wlb kh[ulbylZd qlh<Zf ke_^m_l\gbfZl_evgh ke_^blvqlh[u wlh]hg_ kemqbehkv J_dhf_g^m_lky ^hihegbl_evghbkihevah\Zlv \ ijb\h^Zo aZsblgu_fmnluLZd`_g_ ^himkdZcl_ gZ\_^_gb_l_e_kdhiZ q_j_alhqdm gZoh`^_gby KhegpZ \^g_\gh_ \j_fy_keb <Zr l_e_kdhi g_ij_^gZagZq_g ^eygZ[ex^_gby KhegpZ<u fh`_l_\ ex[hcfhf_gl ij_j\Zlv ijhp_kk gZ\_^_gbygZ`Z\ h^gmba dghihd gZijZ\e_gby ?klv ^\_ijbqbguihq_fm g_ke_^m_l \u[bjZlv hihjguc h[t_dlkebrdhf ^Ze_dhhl h[t_dlZ gZ\_^_gby<hi_j\uog_lhqgh_ aZ^Zgb_ gZijZ\e_gby iheyjghchkb fhglbjh\dbgZ Ihexk FbjZ f_g__hsmlbfh ijbgZ\_^_gbb_keb lj_[m_fuc bhihjguc h[t_dlugZoh^ylky gZ g_[hevrhf m]eh\hfjZkklhygbb<h\lhjuo \j_fy gZ\_^_gby[m^_l agZqbl_evghf_gvrbf ?keb ihke_gZ\_^_gby h[t_dlg_ gZoh^blky\ p_glj_ iheyaj_gbyj_dhf_g^m_lky \uihegblv ke_^mxsmx ihke_^h\Zl_evghklv^_ckl\bc K ihfhsvxq_luj_o dghihdgZijZ\e_gby ^h[_cl_kvqlh[u h[t_dlhdZaZeky \p_glj_ ihey aj_gbyAZl_f \hc^bl_\ nmgdpbx ³5HI2EM´b aZ^Zcl_l_dmsbc h[t_dl\ dZq_kl\_ hihjgh]hlZd dZdihke_^gbc imgdl\ kibkd_ hihjguoh[t_dlh\ ojZgbldhhj^bgZlu ihke_^g_]h h[t_dlZgZ\_^_gbyj_dhf_g^m_lky ijhkfZljb\Zlv kibkhd\ h[jZlghfihjy^d_ qlh[u \u[jZlv_]h i_j\uf Wlb ^_ckl\byijb\_^ml dh[gh\e_gbx dhhj^bgZl gZ bg^bdZlhj_lZdqlh hgkgh\Z [m^_l ihdZau\Zlv lhqgu_agZq_gby AZf_qZgb_I_j_[jhk fhglbjh\db Dh]^Z hkms_kl\ey_lky[ukljh_ ^\b`_gb_ fhglbjh\db g_f_pdh]hlbiZ k\hklhdZ gZ aZiZ^kdehg_gb_ h[uqgh\uklZ\ey_lky \ beb \ qlh[u ba[_`Zlvg_`_eZl_evgh]h dZkZgby ljm[hcl_e_kdhiZ dhehggufhglbjh\db Wlh g_\hafh`gh\ j_`bf_ ³*R7R´lZd qlhijb g_h[oh^bfhklb ke_^m_l\jmqgmxdghidZfb gZijZ\e_gbyh[hclb dhehggmZ aZl_f bkihevah\Zlv nmgdpbx³*R7R´ ?keb <ubkihevam_l_ ^Zlqbdbm]eh\h]h iheh`_gby<u fh`_l_i_j_^ gZ\_^_gb_f jZahfdgmlv q_j\yqgu_iZju ijb\h^h\ jZa\_jgmlv l_e_kdhi\jmqgmx \lj_[m_fhf gZijZ\e_gbb kgbadhc lhqghklvxaZl_f aZfdgmlv q_j\yqgu_iZju biha\heblv )6 aZdhgqblv lhqgh_gZ\_^_gb_ ?keb nmgdpby ³*RWR´g_ jZ[hlZ_ldhjj_dlgh ijh\_jvl_ x x x x x x IheyjgZy hkvfhglbjh\db gZijZ\e_gZgZ Ihexk FbjZ" <u m\_j_guqlh dhjj_dlghaZ^Zeb hihjguc h[t_dl"?keb g_lihiulZcl_kv bkihevah\Zlv ^jm]mxa\_a^m \dZq_kl\_ hihjgh]h h[t_dlZ IjZ\bevgh eb<u hl\_lbebgZ \hijhkh iheh`_gbb fhglbjh\dbaZ^Zgguc \nmgdpbb ³5HI2EM´"?keb g_lijb\h^ kdehg_gby [m^_l ^\b]Zlvky\ ijhlb\hiheh`ghf gZijZ\e_gbb <k_ ebiZjZf_lju dhjj_dlghaZ^Zgu ^ey <Zr_]h lbiZfhglbjh\db" <hafh`ghkdhjhklv kebrdhf \ukhdZ^ey <Zr_]h lbiZrZ]h\uo ^\b]Zl_e_cbeb <ZrZ mklZgh\dZ kebrdhfbg_jpbhggZ ^eywlhc kdhjhklb bebiehoh k[ZeZgkbjh\ZgZ" Kfi Dhjj_dpby i_jbh^bq_kdhc hrb[db 3(& Bklhqgbdhf i_jbh^bq_kdhchrb[db y\eyxlky g_lhqghklb ba]hlh\e_gbyq_j\ydZ ijb\h^Z ijyfh]h \hkoh`^_gbyIjb \jZs_gbbq_j\ydZ i_jbh^bq_kdZy hrb[dZih\lhjy_lky kdZ`^uf h[hjhlhf q_j\ydZ<_ebqbgZ i_jbh^Zfh`_l [ulv ihemq_gZbkoh^y badhebq_kl\Z am[v_\ q_j\yqgh]h dhe_kZ Ijbf_j Imklv q_j\yqgh_dhe_kh bf__l am[v_\ Ihkdhevdm ijb\h^ijyfh]h \hkoh`^_gby^_eZ_l iheguc h[hjhlaZ h^gbkmldb lhqg__ a\_a^gu_ kmldblh q_j\yd^_eZ_l h^bg iheguc h[hjhlijb[ebabl_evgh aZ fbgmlu ;ehd )6h[eZ^Z_l kihkh[ghklvx dhfi_gkbjh\Zlv i_jbh^bq_kdmxhrb[dm nmgdpby 3(&>ey wlh]hg_h[oh^bfh ³ihdZaZlv´[ehdm oZjZdl_j hrb[dbgZ ijhly`_gbbh^gh]h i_jbh^Zihke_ q_]hhg Z\lhfZlbq_kdb[m^_l mqblu\Zlv __\h \k_oihke_^mxsbo i_jbh^Zo 3(&nmgdpby [m^_ldhjj_dlgh jZ[hlZlvlhevdh \ lhfkemqZ_dh]^Z ijZ\bevghaZ^Zgu ke_^mxsb_ iZjZf_lju 7HHWK 0B*HDU 0B65HY 5DWH Qbkeh am[v_\q_j\yqgh]h dhe_kZ ijb\h^Z ijyfh]h\hkoh`^_gby \ ij_^_eZo hl^h I_j_^Zlhqgh_ qbkehijb\h^Z Dhebq_kl\h iheguorZ]h\ gZh[hjhl rZ]h\h]h ^\b]Zl_eyijb\h^Z Kdhjhklv ke_`_gby^ey 3(& Ijb \dexq_gbb)63(&nmgdpby ihmfheqZgbx \udexq_gZ Ij_`^_ \k_]h<Zf g_h[oh^bfh\u[jZlv ih^oh^ysmx ^ey]b^bjh\Zgby a\_a^mb ijb\_klb __ gZi_j_dj_klb_ hdmeyjZAZl_f <Zfgm`gh \dexqblv nmgdpbxdhjj_dpbb i_jbh^bq_kdhc hrb[db q_j_aimgdl f_gx³3(&´ Nmgdpby fh`_lijbgbfZlv h^ghba lj_o agZq_gbc 2II 3(&\udexq_gZ /HDUQ I_jbh^bq_kdZy hrb[dZaZibku\Z_lky \ iZfylv[ehdZ j_`bf ³h[mq_gby´ 2Q 3(&\dexq_gZ <u[_jbl_ ³OHDUQ´b ih^l\_j^bl_\u[hj gZ`Zlb_f dghidb³:´\ijZ\h L_i_jv <u\_jg_l_kv \j_`bf hlh[jZ`_gby dhhj^bgZlh^gZdhkbf\he ³:´[m^_l hlh[jZ`Zlvky \e_\hf \_jog_fm]em bg^bdZlhjZ³:´hagZqZ_lqlh )6`^_l <Zr_c ]hlh\ghklb dgZqZem ]b^bjh\ZgbyM <Zk_klv k_dmg^qlh[u ihcfZlvbah[jZ`_gb_ \_^ms_c a\_a^u gZi_j_dj_klb_ hdmeyjZ Ih bkl_q_gbbk_dmg^kbf\he ³:´ aZf_gy_lky kbf\hehf³/´qlh hagZqZ_l \dexq_gb_ j_`bfZ³h[mq_gby´ L_i_jv <Zfg_h[oh^bfh \jmqgmxbeb kihfhsvx Z\lh]b^Z dZdfh`gh lhqg__m^_j`b\Zlv \_^msmx a\_a^m gZi_j_dj_klbb hdmeyjZ\ l_q_gb_ \k_]h i_jbh^Z³h[mq_gby´Ijb wlhf Z\lhfZlbq_kdb khklZ\eyxlkylZ[ebpu ihijZ\hd ijb\h^h\ ijyfh]h\hkoh`^_gby bkdehg_gby b khojZgyxlky \iZfylb [ehdZ Ih aZ\_jr_gbxijhp_kkZ kbf\hegZ bg^bdZlhj_ baf_gblky gZ³3´Wlh hagZqZ_lqlh ³h[mq_gb_´aZdhgq_gh\_ebqbgu ihijZ\hd khojZg_gu \iZfylb b3(&nmgdpby \dexq_gZ Z\lhfZlbq_kdb dhfi_gkbjmyi_jbh^bq_kdmx hrb[dm ijb\h^h\;_amkeh\gh<u fh`_l_ ijh^he`Zlv hkms_kl\eylvjmqgmx dhjj_dpbx Ijb wlhf^\_ dhjj_dlbjmxsb_\_ebqbgu ijhklh kdeZ^u\Zxlky beb\uqblZxlky ^jm]ba ^jm]Z Imgdl f_gx³0LVF3(&B'HFO´iha\hey_l \dexqblv \HV beb \udexqblvQR Z\lhfZlbq_kdmx dhjj_dpbxijb\h^Z kdehg_gby <dexq_gb_ nmgdpbbiha\hey_l dhfi_gkbjh\Zlv ^j_cn gZ[ex^Z_fh]hh[t_dlZ ihkdehg_gbx \ua\Zgguc g_lhqghcj_]mebjh\dhc fhglbjh\db Baf_g_gb_ kdehg_gbyEmgu fh`_l[ulv lZd`_ e_]dh mql_ghk bkihevah\Zgb_fwlhc nmgdpbb Ijb wlhfh^gZdhg_ dhfi_gkbjm_lky\jZs_gb_ ihey aj_gby>ey mkljZg_gby\jZs_gby ihey aj_gby <u\ ex[hfkemqZ_ ^he`gulsZl_evgh hlj_]mebjh\Zlv fhglbjh\dmk l_fqlh[u __ iheyjgZy hkv[ueZ gZijZ\e_gZgZ IhexkFbjZ G_h[oh^bfh hlf_lblvqlh nmgdpby³3(&B'HFO´ j_Zevgh g_\uihegy_l dhjj_dpbxi_jbh^bq_kdhc hrb[db ijb\h^Zkdehg_gbyH^gZdh i_jbh^bq_kdZy hrb[dZijb\h^Z kdehg_gbyg_ b]jZ_l klhev[hevrhc jhebdZd hrb[dZ ijb\h^Z ijyfh]h\hkoh`^_gbyIjb dhjj_dpbb ijb\h^Z kdehg_gby \hkijhba\h^ylkyebrv l_ ihijZ\dbdhlhju_ [uebaZibkZgu \ijhp_kk_ ³h[mq_gby´ ?keb <Zfg_ ohlbl_bkihevah\Zlv \hafh`ghklb nmgdpbb 3(&ijhklh \udexqbl___ q_j_a kbkl_fm f_gxnmgdpby ³3(&´³RII´ <u fh`_l_\gh\v \dexqblv__ \ex[h_ \j_fy nmgdpby ³3(&´³RQ´lZd dZd[ehd )6 ihklhyggh ke_^blaZ m]eh\ufiheh`_gb_f q_j\ydh\ ijb\h^h\g_aZ\bkbfh hlkdhjhklb gZ\_^_gby b^Z`_ _keb3(&nmgdpby [ueZ \udexq_gZ >ey aZibkbgh\hc lZ[ebpuihijZ\hd g_h[oh^bfh aZgh\h ijh\_klbijhp_kk ³h[mq_gby´nmgdpby ³3(&´³OHDUQ´ Ijbf_qZgby Dh]^Z <u\dexqZ_l_ 3(&Z\lhfZlbq_kdb \u[bjZ_lky kdhjhklv [[G_ baf_gycl_ kdhjhklv\h \j_fyijhp_kkZ ³h[mq_gby´ < kemqZ__keb <ubaf_gy_l_ agZq_gby iZjZf_ljh\k\yaZgguo k3(&³*HDU´ ³0B *HDU´³0B65HY´³5DWH ´<Zf g_h[oh^bfh ijh\_klbgh\uc ijhp_kk ³h[mq_gby´ Ijb \udexq_gbb[ehdZ\k_ khojZg_ggu_ agZq_gby ihijZ\hdl_jyxlkyihwlhfm ihke_ dZ`^h]h \dexq_gby[ehdZ g_h[oh^bfhijh\h^blv gh\uc ijhp_kk ³h[mq_gby´_keb <uohlbl_ bkihevah\Zlv \hafh`ghklbnmgdpbb 3(& Kdhjhklb gZ\_^_gby Ke_`_gb_ aZdhf_lZfb >ey \u[hjZ[hevr_c kdhjhklbgZ`fbl_ ³6KLIW1´^ey \u[hjZf_gvr_c kdhjhklb ³6KLIW6´ Kdhjhklv baf_g_gbyijyfh]h \hkoh`^_gby )6iha\hey_l <ZfgZ\h^blv l_e_kdhi bkihevamy deZ\brbgZijZ\e_gbyIjb wlhf i_j_f_s_gb_ fh`_lijhbkoh^blv kjZaghc kdhjhklvx<k_]h kms_kl\m_ljZaebqguo kdhjhkl_c hlkdhjhklb ³5DWH´^h kdhjhklb ³5DWH´ Kdhjhklv y\ey_lky kZfhcgbadhc<u fh`_l_ bkihevah\Zlv __^ey \g_k_gbyg_[hevrbo ihijZ\hd ]b^bjh\Zgby ijbnhlh]jZnbjh\Zgbb Djhf_ lh]hnmgdpbb Z\lh]b^Zb 3(&lZd`_ bkihevamxl wlmkdhjhklv Bkoh^y baihke_^g_]h\_jogbc ij_^_e kdhjhklb g_ fh`_lij_\urZlv \_ebqbgm\ o Kdhjhklb b ±wlh kj_^gb_kdhjhklb dhlhju_ <ufh`_l_ bkihevah\Zlv\ jZaguo p_eyogZijbf_jgZ[ex^Zy ih\_joghklvEmgu >bZiZahg aZ^Zgbykdhjhkl_c hl [^h fZdkbfmfZ Kdhjhklv y\ey_lky gZb\ukr_clZd qlh bkihevamcl_ __^ey [ukljh]hgZ\_^_gby l_e_kdhiZ \gm`gmx lhqdmJ_`bf ³*RWR´ lZd`_ bkihevam_lkdhjhklv <_ebqbgu \k_olb kdhjhkl_cfh]ml [ulv bg^b\b^mZevgh aZ^Zguih <Zr_fm`_eZgbx q_j_a kbkl_fm f_gx³5DWHV´³5DWH´³5DWH´ AZ^Z\Z_fu_ qbkeZy\eyxlky mfgh`Zxsbfb dhwnnbpb_glZfb ihhlghr_gbx dghjfZevghc kdhjhklb ke_`_gby >\Z ijbf_jZ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ 5DWH [ FZdkbfZevgh ^himklbfh_agZq_gb_ kdhjhklb aZ\bkbl hllbiZ bjZ[hq_]h lhdZ^\b]Zl_e_c f_oZgbq_kdbo oZjZdl_jbklbdfhglbjh\db gZijy`_gby iblZgbyb ^jm]bonZdlhjh\GZ ijZdlbd_ wlhagZq_gb_ fh`_l[ulv ihemq_gh wdki_jbf_glZevguf iml_f?keb <u\b^bl_qlh gZ ^Zgghckdhjhklb ^\b]Zl_ebijhimkdZxl rZ]b b keurbl_oZjZdl_jguc ^jh`Zsbc\ukhdbc a\md wlh hagZqZ_lqlh <Zfg_h[oh^bfh mf_gvrblv agZq_gb_ kdhjhklb^h ihemq_gbymklhcqb\h]h ^\b`_gby ijb\h^ZJ_dhf_g^m_lky \uihegylv wlm ijh\_jdmijb ihgb`_gghfgZijy`_gbb bklhqgbdZ iblZgby G_h[oh^bfh aZf_lblvqlh _keb<u g_ ijbf_gy_l_ ^Zlqbdbm]eh\h]h iheh`_gby l_dmsb_ dhhj^bgZlul_e_kdhiZ hij_^_eyxlkyba iheh`_gbc jhlhjh\rZ]h\uo ^\b]Zl_e_c< kemqZ_ ijhimkdZrZ]h\ baaZ kebrdhf[hevrhc aZ^Zgghc \_ebqbgukdhjhklbhlh[jZ`_gb_ dhjj_dlguo dhhj^bgZlklZgh\blky g_\hafh`guf Ihwlhfm g_aZ^Z\Zcl_ qj_af_jgh\ukhdmx fZdkbfZevgmx kdhjhklvgZ\_^_gby Dhf_lu\ hlebqb_hl a\_a^fh]ml bf_lv hsmlbfmx kdhjhklvkh[kl\_ggh]h ^\b`_gbyqlh fh`_l ijb\h^blvd jZafZau\Zgbxbo bah[jZ`_gby ijbnhlh]jZnbjh\Zgbb k[hevrbfb \u^_j`dZfb <u fh`_l_aZ^Zlv \_ebqbgmkh[kl\_ggh]h ^\b`_gby dhf_luq_j_a kbkl_fmf_gx ³0LVF&RPHWB5H´b ³0LVF&RPHWB'H´ PGPG \ fbgmlZoaZ kmldb Kdhjhklv baf_g_gbykdehg_gby G G \ m]eh\uofbgmlZo aZkmldb Ijbf_j Ij_^iheh`bf<u agZ_l_dhhj^bgZlu dhf_lu^ey ^\mo fhf_glh\\j_f_gb kijhf_`mldhf \ ^g_c >ZlZ Ij\hkoKdehg Ghy KP Ghy KP Ij_`^_ \k_]h\uqbkebf kh[kl\_ggh_^\b`_gb_ dhf_lu aZ^g_c KPKP P >ey ihemq_gbykmlhqgh]h ^\b`_gbyjZa^_ebf ihemq_ggu_ \_ebqbgugZ P P Bf_ggh wlb\_ebqbgu g_h[oh^bfhaZ^Zlv \ dZq_kl\_ iZjZf_ljh\³&RPHWB5H´DQG ³&RPHWB'H´ Qlh[u \dexqblv^Zggmx nmgdpbxgZ\_^bl_ l_e_kdhi gZdhf_lmihke_ q_]hgZ`bfZcl_ ³6+,)7(´\e_\h^h ihy\e_gbygZ bg^bdZlhj_ gZ^ibkb ³&RPHW´ Ijbf_qZgb_Ihkdhevdm Khegp_b EmgZlZd`_ bf_xl kh[kl\_ggh_^\b`_gb_<u fh`_l_ bkihevah\Zlv ^Zggmxnmgdpbx ^eylhqgh]h ke_`_gby aZwlbfb h[t_dlZfb Kh[kl\_ggh_ ^\b`_gb_KhegpZ aZ\bkblhl \j_f_gb ]h^Zb fh`_lkhklZ\eylv hl^h fbgkmldb ihijyfhfm \hkoh`^_gbxb hl ^h m]efbgkmldb ihkdehg_gbx Kh[kl\_ggh_ ^\b`_gb_Emgu fh`_lkhklZ\eylv hl ^h fbgkmldb ihijyfhfm \hkoh`^_gbx bhl ^h m]efbgkmldb ih kdehg_gbxDjhf_ wlh]h\b^bfh_ iheh`_gb_ Emgu hlghkbl_evgha\_a^ ^hihegbl_evgh kf_sZ_lky ki_jbh^hf \qZkh\ Wlh kf_s_gb_\ua\Zgh wnn_dlhfiZjZeeZdkZ gZ[ex^Zl_ev gZoh^blkygZ ih\_joghklbA_feb Z g_\ p_glj_fZkk kbkl_fuA_feyEmgZ b ke_^h\Zl_evgh^\b`_lky \f_kl_k ih\_joghklvx Qlh[u gZclblhqgu_ \_ebqbgukh[kl\_ggh]h kmlhqgh]h ^\b`_gbyEmguj_dhf_g^m_lky \uqbkeblv __dhhj^bgZlu gZg_dhlhjuc fhf_gl \j_f_gb bdhhj^bgZlu kimklyfbgml Ihemq_ggu_ jZaghklbdhhj^bgZl g_h[oh^bfh mfgh`blv gZ Fh`gh ihclb^jm]bf iml_fb bkihevah\Zlv nmgdpbx 3(&^ey ke_`_gbyaZ EmghcIjb wlhf \ ijhp_kk_³h[mq_gby´ [m^ml khklZ\e_gu lZ[ebpu ihijZ\hd\ua\Zgguo dZd i_jbh^bq_kdhc hrb[dhclZd bkh[kl\_gguf ^\b`_gb_f g_[_kgh]hl_eZIhke_ wlh]h[m^_l h[_ki_q_gh lhqgh_ke_`_gb_ aZEmghc I_j_gZagZq_gb_ dghihd gZijZ\e_gby < ijhp_kk_jmqgh]h ]b^bjh\Zgby<Zf g_h[oh^bfh m^_j`b\Zlv\_^msmx a\_a^mgZ i_j_dj_klbb hdmeyjZWlh ^hklZlhqgh mlhfbl_evguc ijhp_kkhkh[_gghdh]^Z ^_ckl\b_ dghihdgZijZ\e_gby g_\iheg_ m^h[gh ^ey <Zk G_dhlhju_ gZ[ex^Zl_ebij_^ihqblZxlqlh[u gZ`Zlb_ e_\hcdghidb \uau\Zehi_j_f_s_gb_ a\_a^u \e_\h^jm]b_ `_eZxlqlh[u e_\Zy dghidZ ^\b]ZeZ\e_\h i_j_dj_klb_hdmeyjZZ g_ ihe_aj_gby Ijhkl_crbf j_r_gb_fwlhc ijh[e_fufh`_l [ulv ijhklhc ih\hjhlimevlZ mijZ\e_gby\ jmd_gZ H^gZdh wlhlkihkh[ fh`_lhdZaZlvky g_ijbf_gbf ^eyg_dhlhjuo hilbq_kdboko_f l_e_kdhih\?keb <u\b^bl_ \hdmeyj_ a_jdZevgh_ bah[jZ`_gb_h[t_dlZlhdZd [u <u g_ih\hjZqb\Zeb imevl<Zf g_m^Zklky ihemqblv `_eZ_fu_gZijZ\e_gby \k_oq_luj_o dghihd <hl ihq_fm\ )6j_Zebah\ZgZ nmgdpby i_j_gZagZq_gby dghihdgZijZ\e_gby I_j_gZagZq_gb_ jZkijhkljZgy_lkylhevdh gZ kemqZbdh]^Z dghidbbkihevamxlky bf_ggh^ey gZ\_^_gby l_e_kdhiZb g_aZljZ]b\Z_l ^_ckl\b_ dghihdijb jZ[hl_k kbkl_fhcf_gx < imgdl_f_gx ³0LVF%XWWRQV´<u fh`_l_ \u[jZlv h^gmba q_luj_odhf[bgZpbc Dhf[bgZpby 1RUPDO (: 16 16(: Ijbf_qZgb_ DghidZ \\_jo K_\_j K_\_j X] X] DghidZ \gba X] X] K_\_j K_\_j DghidZ \e_\h <hklhd AZiZ^ <hklhd AZiZ^ DghidZ \ijZ\h AZiZ^ <hklhd AZiZ^ <hklhd J_dhf_g^m_lky ihevah\Zlvkynmgdpb_c i_j_gZagZq_gby ebrvihke_ lh]hdZd <u \iheg_ hk\hbebkvk )6 GZijbf_ji´AZ^Zgb_ gZijZ\e_gbc ^\b`_gby´khklZ\e_g bkoh^yba ij_^iheh`_gby qlh i_j_gZagZq_gb_g_ [uehk^_eZgh< ijhlb\ghf kemqZ_fh`_l \hagbdgmlvimlZgbpZ \ hij_^_e_gbb gZijZ\e_gbc Nmgdpby lZcf_jZ Ijb nhlh]jZnbjh\Zgbbg_[_kguo h[t_dlh\k [hevrbfb \u^_j`dZfb[u\Z_l ihe_agufagZlv dZdh_ \j_fym`_ ijhrehk gZqZeZwdkihabpbb >ey wlh]h)6bf__l lZdgZau\Z_fmx nmgdpbx lZcf_jZIh mfheqZgbxwlZ nmgdpby\udexq_gZ h^gZdh <ufh`_l_ Zdlb\bjh\Zlv__ q_j_a kbkl_fm f_gx>ey wlh]h\uah\bl_ imgdlf_gx ³0LVF7LPHU´b \u[_jbl_³\HV´ Ke_^mxs_c nmgdpb_c\ kbkl_f_f_gx y\ey_lky nmgdpby \j_f_gb\u^_j`db ³([S7LPH´A^_kv <u fh`_l_aZ^Zlv ex[h_agZq_gb_ wdkihabpbb\ fbgmlZo hl ^h Ihke_ \\h^Z lj_[m_fh]h qbkeZ\uc^bl_ bakbkl_fu f_gx >ey lh]hqlh[u \ua\ZlvgZ bg^bdZlhjl_dmsb_ ihdZaZgby lZcf_jZkgZqZeZ \u[_jbl_ kdhjhklv gZ`Zlb_f ³6+,)76´\gba g_kdhevdh jZaIhke_ wlh]hgZ`fbl_ ³6+,)76´ _s_ h^bgjZaL_i_jv bg^bdZlhj[m^_l hlh[jZ`Zlv l_dmsb_ihdZaZgby lZcf_jZ\ fbgmlZo bk_dmg^Zo < lhfkemqZ_dh]^Z jZg__aZ^Zggh_ \j_fy aZdhgqbehkvlZcf_j g_hklZgZ\eb\Z_lkygh bg^bdZlhj gZqbgZ_lfb]Zlv?keb <ugZoh^bl_ fb]Zgb_ bg^bdZlhjZjZa^jZ`Zxsbfijhklh aZ^Zcl_ [hevrmx\_ebqbgm \j_f_gb\ f_gx ³0LVF([S7LPH´ Qlh[u aZij_lblvhlh[jZ`_gb_ lZcf_jZgZ bg^bdZlhj_kgh\Z gZ`fbl_³6+,)76´ DZ`^uc jZadh]^Z \u\dexqZ_l_ lZcf_j\gh\v hg gZqbgZ_lhlkq_l k Wdhghfbqguc j_`bf >Zgguc j_`bfiha\hey_l kgbablv wg_j]hihlj_[e_gb_ [ehdZ)6 < wdhghfbqghfj_`bf_ h[Z^\b]Zl_ey b bg^bdZlhj \udexq_gugh ijhp_kkhj[ehdZ gZoh^blky \Zdlb\ghf khklhygbbkhojZgyy \k_ gZkljhcdb bh[_ki_qb\Zy ojZg_gb_dhjj_dlguo dhhj^bgZl bkhklhygbc ^Zlqbdh\m]eh\h]h iheh`_gby Ijb wlhflhd ihlj_[e_gbykhklZ\ey_l hdheh f: b ^hihegbl_evgh_s_ f:_keb ih^dexq_gu ^Zlqbdbm]eh\h]h iheh`_gby I_jbh^bq_kdb \kiuob\Zxsbcbg^bdZlhj ihdZau\Z_lqlh kbkl_fZ\dexq_gZgh gZoh^blky \wdhghfbqghf j_`bf_ >ey \uoh^Zba wdhghfbqgh]hj_`bfZ ^hklZlhqgh gZ`Zlv ex[mxdghidm gZimevl_ mijZ\e_gby ijb wlhf\dexqZlky ^\b]Zl_ebb bg^bdZlhj gZqg_l hlh[jZ`_gb_l_dmsbo dhhj^bgZl Dhg_qghaZ \j_fyhklZgh\db ijb\h^h\l_dmsb_ dhhj^bgZlu baf_gylky\ke_^kl\b_ kmlhqgh]h \jZs_gby g_[Z Ijb\_^_f ijbf_jbgl_j_kgh]h bkihevah\Zgby wdhghfbqgh]h j_`bfZ < ghqgh_\j_fy \ufh`_l_ hkms_kl\blv ijb\yadm kbkl_fudhhj^bgZl fhglbjh\dbd hihjguf h[t_dlZf\dexqblv wdhghfbqgucj_`bf b kihdhcghb^lb kiZlvg_ hldexqZyiblZgby [ehdZGZ ke_^mxsbc^_gv <ufh`_l_ \uclbba wdhghfbqgh]h j_`bfZb gZ[ex^Zlvyjdb_ a\_a^u b ieZg_lu\ ^g_\gh_\j_fybkihevamy nmgdpbx ³*RWR´ Ih^dexq_gb_ Z\lh]b^Z &&']b^bjh\Zgb_ DZd ^hihegbl_evgZy\hafh`ghklv)6fh`_l [ulv hkgZs_gdhglZdlguf jZat_fhf^ey ih^dexq_gby dZf_ju67b dhglZdlguf jZat_fhf ^eyih^dexq_gby dZf_j0HDGH3LFWRU b 6%,*?keb <Zr[ehd )6g_ hkgZs_gwlbfb jZat_fZfb<u fh`_l_^hhkgZklblv _]h\ ex[h_ \j_fy DZf_jZ 6%,*67ih^dexqZ_lky d dhglZdlghfm jZat_fmgZ [ehd_)6 Kh_^bgbl_evguc dZ[_evbf__l jZa\h^dm³h^bg \ h^bg´ijbq_f bkihevamxlkyebrv dhglZdluk ghf_jZfb b DZf_jZ 0HDGH3LFWRUih^dexqZ_lky d dhglZdlghfm jZat_fmgZ [ehd_)6 Kh_^bgbl_evguc dZ[_ev\oh^bl \dhfie_dl ihklZ\db dZf_jub bf__lke_^mxsmx jZa\h^dm DhglZdl h^gh]h jZat_fZkh_^bg_g k dhglZdlhf \lhjh]hdhglZdl k dhglZdlhf b l^ ;ehd )6g_ gm`^Z_lky\ dZdboeb[h ^hihegbl_evguo gZkljhcdZo^ey bkihevah\Zgby nmgdpbb Z\lhfZlbq_kdh]h]b^bjh\Zgby ^hklZlhqgh ebrvih^dexqblv dZf_jmZ\lh]b^Z d khhl\_lkl\mxs_fm jZat_fm[ehdZ Dh]^Z dZf_jZihkueZ_l kb]gZehrb[db ]b^bjh\Zgby)6 Z\lhfZlbq_kdb nhjfbjm_l g_h[oh^bfh_ dhjj_dlbjmxs__^\b`_gb_ ijb\h^h\ <h \j_fyijhp_kkZ dhjj_dpbb\k_]^Z Z\lhfZlbq_kdb \dexqZ_lkykdhjhklv [ PD[g_aZ\bkbfh hljZg__ \u[jZgghc kdhjhklb <oh^ \j_`bf dhjj_dpbbkhijh\h`^Z_lky \u\h^hf gZbg^bdZlhj khh[s_gby ³75$&.!´ Wlh]hh^gZdhg_ ijhbkoh^bldh]^Z bg^bdZlhj hlh[jZ`Z_lihdZaZgby lZcf_jZ Ijbf_qZgb_ <oh^ Z\lh]b^Zkh\_jr_ggh g_aZ\bkbfhl dghihd gZijZ\e_gbylh _klvg_ kms_kl\m_l iZjZee_evgh]h ih^dexq_gbydhglZdlh\ Z\lh]b^Z d dhglZdlZfdghihdWlh agZqblqlh <u fh`_l_ ijbZdlb\ghf Z\lh]b^_ihevah\Zlvky dghidZfb ^eygZ\b]Zpbb ihkbkl_f_ f_gxbeb ^Z`_ iulZlvkymijZ\eylv l_e_kdhihf\jmqgmx k ihfhsvx dghihd GZagZq_gb_ dhglZdlh\jZat_fZ 67[ehdZ )6 dhglZdlu j_e_³;´ dhglZdlu j_e_³;´ dhglZdlu j_e_ ³<´ dhglZdlu j_e_³<´ <k_ iZjudhglZdlh\ j_e_±ghjfZevgh jZahfdgmlu_ GZagZq_gb_ dhglZdlh\jZat_fZ 0HDGH3LFWRU [ehdZ )6 g_ bkihevam_lky h[sbc ³\e_\h´ ³\gba´ ³\\_jo´ ³\ijZ\h´ Ki_pbZevgu_ kh_^bgbl_evgu_dZ[_eb ^ey ih^dexq_gby dZf_j6%,*67b 67$d jZat_fm 0HDGH3LFWRU<u fh`_l_ijbh[j_klb \ $6752(/(&7521,& LZf `_\ $6752(/(&7521,&<u fh`_l_ ijbh[j_klb bgl_jn_ckiha\heyxsbc bkihevah\Zlv dZf_jm &RRNERRN&&'\ dZq_kl\_ Z\lh]b^Z Ih^dexq_gb_ dKHFihjlm dhfivxl_jZ <u bf__l_\hafh`ghklv ih^dexqblv[ehd )6d i_jkhgZevghfm dhfivxl_jmqlh[u bkihevah\Zlv _]h kh\f_klghk ijh]jZffZfbieZg_lZjbyfb lZdbfbgZijbf_jdZd ³*8,'(´RU ³7KH6N\´ x x x <u kfh`_l_gZ[ex^Zlv gZ^bkie__ dhfivxl_jZ\ dZdmxlhqdm a\_a^gh]hg_[Z gZij\e_g <Zrl_e_kdhi <u kfh`_l_hkms_kl\blv gZ\_^_gb_ l_e_kdhiZ gZex[hc h[t_dl aZj_]bkljbjh\Zgguc \dZlZeh]Zo <Zr_c3& ijh]jZffu <u kfh`_l_mijZ\eylv ^\b`_gb_fl_e_kdhiZ k ihfhsvxdhfivxl_jZbkihevamy ke_^mxsb_ kdhjhklb ³6OHZ´khhl\_lkl\m_l kdhjhklb ³)LQG´khhl\_lkl\m_l kdhjhklb ³&HQWHU´khhl\_lkl\m_l kdhjhklb ³*XLGH´khhl\_lkl\m_l kdhjhklb Kdhjhklv g_ bkihevam_lkyijb mijZ\e_gbb l_e_kdhihfhl dhfivxl_jZ GZagZq_gb_ dhglZdlh\jZat_fZ 56 [ehdZ )6 < dZq_kl\_kh_^bgbl_evgh]h dZ[_eyfh`_l bkihevah\Zlvky klZg^Zjlgucgmevfh^_fguc dZ[_ev ihke_^h\Zl_evgh]hbgl_jn_ckZ>ey h[f_gZ ^Zggufbbkihevamxlky kb]gZeu5['7[' b *1' bgl_jn_ckZ 56>ey jZat_fZ'% ghf_jZ dhglZdlh\[m^ml b khhl\_lkl\_ggh Ij_`^_ q_fgZqZlv mijZ\e_gb_l_e_kdhihf hl dhfivxl_jZg_h[oh^bfh dZdfbgbfmf h^bgjZa \uihegblv nmgdpbx³5HI2EM´<u fh`_l_ m[_^blvkyqlh wlZnmgdpby [ueZ\uiheg_gZ ih kbf\hem ³0´beb ³(´\ gb`g_fijZ\hf m]em bg^bdZlhjZ < ijhlb\ghfkemqZ_dhfivxl_j [m^_l hi_jbjh\Zlv kg_dhjj_dlgufb dhhj^bgZlZfb AZf_qZgby ih ³*XLGH´ Bamqbl_ khhl\_lkl\mxsbciZjZ]jZn \ bgkljmdpbb ihbkihevah\Zgbx ³*8,'(´AZl_f mklZgh\bl_lbi l_e_kdhiZ ³/;´b ghf_j khhl\_lkl\mxs_]h KHFihjlZ \ijh]jZff_ ³*8,'(´ AZf_qZgby ih ³7KH6N\´ AZimklbl_ ijh]jZffm 7KH6N\b \uihegbl_ dhfZg^m f_gx 7HOHVFRSH6HWXS MklZgh\bl_ lbil_e_kdhiZ \³/;E\ 0HDGH´L_i_jv s_edgbl_ 6HWWLQJV \\_^bl_ ghf_jKHFihjlZ bmklZgh\bl_ kdhjhklv \;h^LZdmx gZkljhcdm ^hklZlhqgh ijh\_klbebrv h^bgjZa ihkdhevdm 7KH6N\khojZgy_l \\_^_ggu_ iZjZf_lju GZijZ\vl_ l_e_kdhigZ ba\_klgmx<Zf a\_a^m bmdZ`bl_ wlma\_a^m \dZq_kl\_ hihjghc \nmgdpbb 5HI2EM< gb`g_f ijZ\hf m]embg^bdZlhjZ ihy\blkykbf\he 0beb ( S_edgbl_ furvx³7HOHVFRSH/LQN (VWDEOLVK´Ihke_ wlh]h7KH6N\[m^_l ihdZau\Zlv h[eZklvdm^Z gZijZ\e_g<Zr l_e_kdhi Ijb ihy\e_gbbkhh[s_gby h[hrb[d_ /; QRWUHVSRQGLQJijh\_jvl_ gZkljhcdb ihke_^h\Zl_evgh]h ihjlZb ih^dexq_gb_ dZ[_eyM[_^bl_kvqlh [ehd)6\dexq_g b qlh hihjgZya\_a^Z aZ^ZgZ Ihke_ lh]hdZd k\yavmklZgh\e_gZ<u fh`_l_ s_edgmlvfurvx ex[hch[t_dl gZ wdjZg_ dhfivxl_jZqlh \uah\_lihy\e_gb_ hdgZ 2EMHFWLQIRUPDWLRQ?keb <ul_i_jv s_edgbl_ gZfZe_gvdbc agZqhdl_e_kdhiZ <Zr l_e_kdhigZqg_l gZ\h^blvkygZ \u[jZgguc <Zfbh[t_dl Ijb g_h[oh^bfhklblhqgh gZ\_klbl_e_kdhi gZ h[t_dleb[h bkihevamcl_dghidb imevlZ mijZ\e_gbyeb[h s_edgbl_gZ 7HOHVFRSH 0RWLRQFRQWUROVBkihevamy dghidb jZkiheh`_ggu_ \hdg_ 0RWLRQ&RQWURO<u fh`_l_ gZ\h^blvl_e_kdhi \ex[hf gZijZ\e_gbb Ihke_ aZ\_jr_gbylhqgh]h gZ\_^_gby<Zf ke_^m_l h[gh\blvijb\yadm kbkl_fu dhhj^bgZleb[h \uihegb\ dhfZg^m5HI2EM2EMHFWk ihfhsvximevlZ mijZ\e_gby )6eb[h bkihevamy \hafh`ghklb 7KH6N\\ hdg_2EMHFW LQIRUPDWLRQs_edgbl_ gZ7HOHVFRSH\ \_jog_c kljhd_Z aZl_fs_edgbl_ 6\QF G_ j_dhf_g^m_lkymklZgZ\eb\Zlv \_ebqbgm FURVVKDLUXSGDWHSHULRGf_gvr_q_f \ fk AZf_qZgby ih ³6N\PDS3UR´ <uihegb\ imgdlf_gx 7HOHVFRSH&RQILJXUH mklZgh\bl_ lbil_e_kdhiZ \ ³9L[HQ 6N\VHQVRU3&/;´ AZf_qZgby ih\k_f ijh]jZffZf LZd dZdjZajZ[hlqbdb ijh]jZffgh]h h[_ki_q_gby \uimkdZxlgh\u_ \_jkbbk\hbo ijh]jZffwlh fh`_l\uau\Zlv ijh[e_fu kh\f_klbfhklb k)6?keb <ubkiulu\Z_l_ ljm^ghklbk\y`bl_kv k $VWUR(OHFWURQLF^ey ihemq_gby ihfhsb AZf_qZgby ^eyijh]jZffbklh\ )6kihkh[_g ijbgbfZlvke_^mxsb_ dhfZg^u \ nhjfZl_/; *5*'6U6G06 44Q4V4H4Z 0Q0V0H0Z 56505&5* &08 HklZevgu_ dhfZg^ub]ghjbjmxlky Ihbkd h[t_dlh\ih kibjZevghc ljZ_dlhjbb Ij_^iheh`bf<u gZ\_ebl_e_kdhi \ hij_^_e_ggmx lhqdma\_a^gh]h g_[Zgh g_ \b^bl_ gm`guc<Zf h[t_dl\ ihe_aj_gby l_e_kdhiZijbq_f <um\_j_guqlh h[t_dlg_ fh`_l [ulvkebrdhf ^Ze_dhhl lhqdb gZ\_^_gby < wlhfkemqZ_ <Zffh`_l ihfhqvnmgdpby ³6SLUDO´HgZ aZklZ\ey_ll_e_kdhi ^\b]Zlvky ba l_dms_clhqdb ihjZkoh^ys_cky kibjZeb Wlh iha\hey_lf_lh^bqgh bkke_^h\Zlvp_emx h[eZklv kaZ^Zgguf p_gljhf Dh]^Z <ubkihevam_l_ nmgdpbx³6SLUDO´<u ^he`gu kgZqZeZaZ^Zlv rZ]ihbkdZbkihevamy dghidb ³1´b ³6´RZ] ihbkdZhagZqZ_l m]eh\h_ jZkklhygb_f_`^m khk_^gbfb\bldZfb kibjZebJ_dhf_g^m_lky aZ^Z\ZlvrZ] ijb[ebabl_evgh jZ\guciheh\bg_ iheyaj_gby l_e_kdhiZG_ aZ[m^vl_ih^l\_j^blv \\h^rZ]Z ihbkdZ dghidhc³:´\ijZ\h Ihke_ \\h^ZrZ]Z gZqbgZ_lkyijhp_kk ihbkdZ Kdhjhklv ihbkdZih^kljZb\Z_lky Z\lhfZlbq_kdb \ aZ\bkbfhklbhl aZ^Zggh]hrZ]Z M\b^_\ \ihe_ aj_gbybkdhfuc h[t_dlgZ`fbl_ dghidm ³:´L_f kZfuf<u ij_j\_l_ijhp_kk ihbkdZijbq_f l_e_kdhihklZg_lky gZijZ\e_gguf gZh[t_dl GZ`Z\ dghidm³(´\e_\h<u lZd`_ij_j\_l_ ijhp_kk ihbkdZgh l_e_kdhi\_jg_lky \ gZqZevgh_ iheh`_gb_p_glj kibjZeb Ijhp_kk ihbkdZaZ\_jrblky Z\lhfZlbq_kdb ihke_ lh]hdZd [m^_l\uiheg_gh iheguo \bldh\ kibjZebIhke_ aZ\_jr_gbyijhp_kkZ l_e_kdhi \_jg_lky\ k\h_i_j\hgZqZevgh_ iheh`_gb_ Ijbf_qZgb_ >ZggZy nmgdpbyfh`_l jZ[hlZlvlhevdh \lhf kemqZ__keb kdehg_gb_jZchgZ ihbkdZ gZoh^blky \ij_^_eZo hl ±^h < ijhlb\ghf kemqZ_[m^_l \u^Zghkhh[s_gb_ ³WRR FORVHWR3ROH´³kebrdhf [ebadhd ihexkm´ J_`bf ³^_fhgkljZpbb´ Ij_^klZ\vl_ k_[_kblmZpbxdh]^Z <uohlbl_ ijh^_fhgkljbjh\Zlv ]jmii_<Zrbo ]hkl_c \i_qZleyxsbc \b^emgghc ih\_joghklb Dhg_qghdZ`^hfm ]hklxaZohq_lky ihkfhlj_lv jZaebqgu_ h[eZklbEmguZ ^eywlh]h _fm_c ijb^_lky mijZ\eylv^\b`_gb_f l_e_kdhiZ >ey ih^h[guop_e_c \)6j_Zebah\Zg j_`bf ³^_fhgkljZpbb´ Qlh[u \hclb beb\uclb bag_]hgZ`fbl_ \k_ q_luj_ dghidbgZijZ\e_gby h^gh\j_f_ggh L_i_jv <ufh`_l_ kf_ehi_j_^Zlv imevl mijZ\e_gby <Zrbf]hklyf khke_^mxsbfb j_dhf_g^Zpbyfb ³K ihfhsvxwlbo q_luj_odghihd <ufh`_l_ ih\hjZqb\Zlv l_e_kdhi\e_\h b\ijZ\h\\_jo b \gba´ Hkh[_gghklvx ^Zggh]hj_`bfZ y\ey_lkylhqlh \k_ nmgdpbb)6djhf_ gZ\_^_gbyk ihfhsvx dghihd\j_f_ggh aZij_sZxlky Wlh aZsbsZ_lkbkl_fm hlkemqZcgh]h baf_g_gby aZ^Zgguo iZjZf_ljh\LZd dZdbaf_g_gb_ kdhjhklb gZ\_^_gbylZd`_ aZij_s_ghaZ^Zcl_ ih^oh^ysmx kdhjhklvi_j_^ \oh^hf\ j_`bf Fhglbjh\dZ g_f_pdh]hlbiZ Ijbf_j x Ij_^klZ\vl_qlh <ZrZfhglbjh\dZ g_f_pdh]h lbiZ ijZ\bevghmklZgh\e_gZ bhjb_glbjh\ZgZ ih hlghr_gbxd IhexkmFbjZL_e_kdhi jZa\_jgml gZx] bgZijZ\e_g gZa\_a^m \ jZchg_ g_[_kgh]hwd\ZlhjZ L_i_jv ij_^klZ\vl_qlh <uklhbl_ dk_\_jm hl l_e_kdhiZ]ey^y \x`ghf gZijZ\e_gbb E_]dh hkhagZlvqlh \hafh`gu^\Z iheh`_gby g_f_pdhc fhglbjh\db L_e_kdhi ke_\ZZ ijhlb\h\_kkijZ\Z L_e_kdhi kijZ\ZZ ijhlb\h\_kke_\Z ;he__ lh]hihgylghqlh ^eyex[hc lhqdb gZ\_^_gby l_e_kdhiZkms_kl\m_l ^\Ziheh`_gby fhglbjh\db g_f_pdh]hlbiZGZ ijZdlbd_ h^gZdh[u\Z_l \hafh`ghbeb m^h[gh bkihevah\Zlv lhevdhh^gh bawlbo iheh`_gbc Bkihevah\Zlv \lhjh_iheh`_gb_dZd ijZ\beh f_rZ_l dhehggZfhglbjh\dbDjhf_ wlh]h jZkiheh`_gb_ hdmeyjZ\ h^ghfba iheh`_gbc fhglbjh\db fh`_lhdZaZlvky g_m^h[guf^ey gZ[ex^Zl_ey Kms_kl\m_l _s_h^gZ ijh[e_fZ\ua\ZggZy g_h^ghagZqghklvx iheh`_gbyfhglbjh\db <_jg_fky dgZrbf kemqZyfb Dh]^Z <ugZ`bfZ_l_ dghidm³1´<u kijZ\_^eb\h h`b^Z_l_qlh l_e_kdhigZqg_l ^\b]Zlvky \k_\_jghf gZijZ\e_gbbl_ m\_ebqb\Zlv kdehg_gb_lhqdb gZ\_^_gby Ijh[e_fZh^gZdh\ lhfqlh ^eym\_ebq_gby kdehg_gby \Ze^\b]Zl_ey ijb\h^Z^he`_g \jZsZlvky \h^ghf gZijZ\e_gbb^ey kemqZy b \ijhlb\hiheh`ghf ^ey kemqZy <hijhkfh`_l ebkbkl_fZ mijZ\e_gby Z\lhfZlbq_kdb hij_^_eblv\ dZdhf gZijZ\e_gbb ^he`_g\jZsZlvky ^\b]Zl_ev kdehg_gby" Hl\_lg_lg_ fh`_l >ey j_r_gbywlhc ijh[e_fug_h[oh^bfh bgnhjfbjh\Zlv kbkl_fm\ dZdhfiheh`_gbb gZoh^blky fhglbjh\dZDZ`^uc jZadh]^Z <u h[gh\ey_l_ dhhj^bgZluih hihjghfmh[t_dlm bkihevamy nmgdpbx³5HI2EM´kbkl_fZ mijZ\e_gby ihijhkblmdZaZlv l_dms__ iheh`_gb_ fhglbjh\db 3RVLWLRQ (:! <Zf g_h[oh^bfhhl\_lblv gZwlhl \hijhk gZ`Zlb_f dghidb³(´beb ³:´Ijb^_j`b\Zcl_kv ke_^mxs_]h ijZ\beZ x x x GZ`fbl_ ³(´_keb l_e_kdhigZijZ\e_g gZ \hklhd l_e_kdhi k\_jomijhlb\h\_k kgbam GZ`fbl_ ³:´_keb l_e_kdhigZijZ\e_g gZ aZiZ^ l_e_kdhi k\_jomijhlb\h\_k kgbam < g_hq_\b^guokemqZyoij_^klZ\vl_ k_[_ \ dZdh_ba ^\mo\ur_ijb\_^_gguo hq_\b^guo iheh`_gbc l_e_kdhifh`_l [ulvijb\_^_g [_a i_j_\h^Zih hkbkdehg_gbc q_j_alhqdb ±beb G_l g_h[oh^bfhklb^\b]Zlv l_e_kdhi j_Zevgh±^hklZlhqgh k^_eZlvwlh fuke_ggh >ey \ur_hibkZggh]hkemqZy dh]^Z l_e_kdhi gZijZ\e_g gZx] bgZoh^blky ke_\ZZ ijhlb\h\_k kijZ\Z^hklZlhqgh ijhklh ih\_jgmlv l_e_kdhigZ \ aZiZ^ghf gZijZ\e_gbbb hghdZ`_lky gZijZ\e_ggufgZ aZiZ^gZoh^ykv k\_jomhl ijhlb\h\_kZLZd qlh \wlhf kemqZ_<Zf ke_^m_lgZ`Zlv dghidm ³:´Qlh[u gZijZ\blvl_e_kdhi gZ\hklhd <Zf [uijbrehkv jZa\_jgmlv_]h \hdjm]hkb kdehg_gbc gZ < kemqZ__keb <uhrb[_l_kv \\u[hj_<u m\b^bl_qlh ijb\h^kdehg_gby ^\b`_lky\ gZijZ\e_gbbijhlb\hiheh`ghf lj_[m_fhfm Z bg^bdZlhjhlh[jZ`Z_l hrb[hqgu_ dhhj^bgZluLh]^Z <Zfke_^m_l ih\lhjgh \uihegblv nmgdpbx³5HI2EM´ Ijbf_qZgb_ Ijb \dexq_gbb[ehdZ <ukjZam fh`_l_ bgnhjfbjh\Zlv kbkl_fmmijZ\e_gby\ dZdhf iheh`_gbb gZoh^blkyfhglbjh\dZ>ey wlh]h GZ`fbl_ bm^_j`b\Zcl_ dghidm³(´beb ³:´\ fhf_gl \dexq_gby[ehdZGZ bg^bdZlhj_ ihy\blky khh[s_gb_³3RVLWLRQ(DVW´beb ³3RVLWLRQ:HVW´L_i_jv fh`ghhlimklblv dghidm < kemqZ__keb <u\eZ^_e_p fhglbjh\db \behqgh]h lbiZ<Zf g_gm`gh hkms_kl\eylv__ i_j_[jhk q_j_ahlf_ldb beb ± kdehg_gbyl_hdmeyj \k_]^ZgZoh^blky k h^ghc klhjhgu\bedb< wlhfkemqZ_ gZijZ\e_gb_ \jZs_gby^\b]Zl_ey ijb\h^Z kdehg_gby \k_]^Zh^ghagZqgh>ey \behqguo fhglbjh\hd j_dhf_g^m_lkybkihevah\Zlv dghidm ³(´ijb hl\_l_gZ \hijhkh iheh`_gbb fhglbjh\dbIjb `_eZgbb<u fh`_l_ bkihevah\Zlv bdghidm ³:´\Z`gh ebrvg_ q_j_^h\Zlv bkihevah\Zgb_dghihdbgZq_ gZijZ\e_gb_ \jZs_gbyijb\h^Z kdehg_gby klZg_l g_h^ghagZqguf Ih^dexq_gb_ rZ]h\uo ^\b]Zl_e_c ?keb <uohlbl_ ijhba\_klbih^dexq_gb_ rZ]h\uo ^\b]Zl_e_ckZfhklhyl_evgh bbeb ba]hlh\beb kh_^bgbl_evgu_dZ[_ebij_`^_ \k_]h\uihegbl_ ke_^mxsb_dhgljhevgu_ hi_jZpbb Ih^dexqbl_ dZ[_evd ^\b]Zl_exgh g_ kh_^bgycl_ \lhjhcdhg_p dZ[_eyk [ehdhf )6 Baf_jvl_ hff_ljhfkhijhlb\e_gb_ f_`^m dhglZdlZfb dhglZdlgh]h jZat_fZdZ[_ey D dhglZdlZfb ^he`gZ [ulvih^dexq_gZ h[fhldZ rZ]h\h]h^\b]Zl_eylZd qlh hff_lj ^he`_gihdZaZlv khijhlb\e_gb_hl ^h Hf D dhglZdlZfb ^he`gZ [ulvih^dexq_gZ \lhjZy h[fhldZrZ]h\h]h ^\b]Zl_eylZd qlh hff_lj^he`_g ihdZaZlvkhijhlb\e_gb_ ijbf_jgh jZ\gh_khijhlb\e_gbx i_j\hc h[fhldb F_`^m dhglZdlZfbb l_f_`^m h[fhldZfb g_^he`gh [ulvgbdZdh]h kh_^bg_gbylZd qlhbaf_j_ggh_ khijhlb\e_gb_ ^he`gh[ulv [_kdhg_qgh [hevrbf F_`^m h[_bfbh[fhldZfb bdhglZdlZfb b g_ ^he`gh[ulv gbdZdh]hkh_^bg_gby Wlb q_luj_ijh\h^Z kh_^bgyxlkyk fbgmkh\uf ijh\h^hfiblZgby [ehdZ)6b lhevdh wdjZgdZ[_ey fh`_lbf_lv kgbfb dhglZdl Ih\lhjbl_ rZ]b^ey \lhjh]h^\b]Zl_ey b dZ[_ey < kemqZ__keb <u\b^bl_ ex[h_ g_khhl\_lkl\b_ \ohly [uh^ghf bal_klh\ gb \dh_f kemqZ_g_ ih^dexqZcl_dZ[_eb ^\b]Zl_e_c d[ehdm )6KgZqZeZ gZc^bl_b mkljZgbl_ ijbqbgmwlh]h g_khhl\_lkl\by < lh`_\j_fy<u fh`_l_\dexqZlv b l_klbjh\Zlv [ehd)6[_a ^\b]Zl_e_c GZagZq_gb_ dhglZdlh\jZat_fh\ rZ]h\uo ^\b]Zl_e_c [ehdZ)6 GZqZeh h[fhldb Dhg_p h[fhldb G_ bkihevam_lky GZqZeh h[fhldb Dhg_p h[fhldb H[sbc wdjZg H[sbc wdjZg H[sbc wdjZg H[sbc wdjZg >ebgZ dZ[_eyg_ ^he`gZij_\urZlv f_ljZ bgZq_ ihl_jbfhsghklb [m^mlkebrdhf \ukhdb baaZ \ukhdhcf_`ijh\h^ghc _fdhklbdZ[_ey AZ^Zgb_ iZjZf_ljh\ ^\b]Zl_e_c Kms_kl\m_l [hevrh_dhebq_kl\h lbih\rZ]h\uo ^\b]Zl_e_cbf_xsbo jZaebqgu_iZjZf_lju G_h[oh^bfh aZ^ZlviZjZf_lju ^\b]Zl_e_c<Zr_c fhglbjh\db q_j_akbkl_fm f_gx Khhl\_lkl\mxsb_ imgdlub ih^imgdluf_gx ³0RWRUB5$´b ³0RWRUB'H´kem`Zl ^ey\\h^Z wlbo iZjZf_ljh\ 0B&XUU Ibdh\uc lhdq_j_a h[fhldmgZ gbadhc kdhjhklb \^bZiZahg_ hl$^h $AgZq_gb_ fZdkbfZevgh ^himklbfh]h lhdZmdZau\Z_lky \ l_ogbq_kdbo ^ZgguogZ ^\b]Zl_ev Ij_\ur_gb_ \_ebqbgulhdZ fh`_l \ua\Zlv i_j_]j_\^\b]Zl_ey b\uoh^ _]h bakljhy 0B&XUU Ibdh\uc lhdq_j_a h[fhldmgZ \ukhdhc kdhjhklb \^bZiZahg_ hl$^h $AgZq_gb_ fZdkbfZevgh ^himklbfh]h lhdZmdZau\Z_lky \ l_ogbq_kdbo ^ZgguogZ ^\b]Zl_ev Ij_\ur_gb_ \_ebqbgulhdZ fh`_l \ua\Zlv i_j_]j_\^\b]Zl_ey b\uoh^ _]h bakljhy 0B)UHT JZ[hqZy qZklhlZ\ =pijb dhlhjhc ijhbkoh^bl i_j_dexq_gb_\_ebqbgu lhdZ ba&XUU\ &XUU?keb \u aZ^Z^bl_ )UHTjZ\ghc gmexlh &XUU[m^_l bkihevah\Zlvkyijb hklZgh\e_gghf ^\b]Zl_e_Z &XUU± dh]^Z jhlhj^\b]Zl_ey \jZsZ_lky Lbibqgh_ agZq_gb_iZjZf_ljZ =p 0B)UHT JZ[hqZy qZklhlZ\ =pijb dhlhjhc j_]meylhju lhdZi_j_dexqZxlky \ ki_pbZevguc j_`bf <ur_ wlh]hihjh]Z ^\b]Zl_eb klZgh\ylky g_kdhevdh[he__ rmfgufbb lhd klZgh\blkyg_kdhevdh \ur_gh fZdkbfZevgZy qZklhlZ\jZs_gby agZqbl_evgh ih\urZ_lkyLbibqgh_ agZq_gb_ iZjZf_ljZ=p ?keb ^\b]Zl_ebg_ h[_ki_qb\Zxl ieZ\gh_ \jZs_gb_gZ gbadhckdhjhklb hkh[_ggh ijbgZijy`_gbb iblZgby \ur_ <hevlmklZgh\bl_ wlhl iZjZf_lj \ 0B65HY Dhebq_kl\h iheguorZ]h\ ^\b]Zl_eygZ h^bg h[hjhlLbibqgufb y\eyxlky agZq_gby Dhebq_kl\h rZ]h\gZ h[hjhl mdZau\Z_lky \l_ogbq_kdbo ^ZgguogZ ^\b]Zl_ev>ey g_dhlhjuo^\b]Zl_e_c ijb\h^blky m]herZ]Z< wlhfkemqZ_ dhebq_kl\h rZ]h\\uqbkey_lky ih nhjfme_m]he rZ]Z I_j_^Zlhqgh_ qbkehj_^mdlhjZ ijb\h^Z 0B*HDU hl \ZeZ^\b]Zl_ey ^hhkb fhglbjh\db Kdhevdh h[hjhlh\^he`_g k^_eZlv ^\b]Zl_evqlh[u l_e_kdhiih\_jgmeky \hdjm] hkbgZ h^bgh[hjhl" >himklbfuc ^bZiZahghl ^h ?keb i_j_^Zlhqgh_qbkeh [hevr_ beb g_y\ey_lky p_eufqbkehf<u fh`_l_ mfgh`blvi_j_^Zlhqgh_ qbkeh gZ ih^oh^ysmx\_ebqbgm [b h^gh\j_f_ggh jZa^_eblv\_ebqbgm 0B65HYgZ lh`_ agZq_gb_[ NhjfZ lhdZFh`_l ijbgbfZlvh^gh ba 0B:DYH agZq_gbciheguc rZ]IXOOVWHS ihemrZ] KDOIVWHSbeb fbdjhrZ] PLFURVWHSDZd ijZ\behgZbemqrbf \u[hjhf y\ey_lkyfbdjhrZ] G_dhlhju_ gbadhdZq_kl\_ggu_ 0B) ^\b]Zl_eb g_fh]ml ieZ\gh\jZsZlvky ^Z`_ _kebnhjfZ lhdZb^_Zevgh kbgmkhb^ZevgZyLZdb_ ^\b]Zl_eb fh]ml \jZsZlvky[he__ ieZ\gh_keb 0B$FFHO 0B&OHDU 0B)UHT 0B/5 0B(QF5 0B(QF' ^h[Z\blv dkbgmkhb^Zevghc nhjf_lhdZ lhd mq_l\_j_gghcjZ[hq_c qZklhlu Lbibqgh_ agZq_gb_ Mkdhj_gb_lbibqgh_ agZq_gb_hl ^h Ih^[_jbl_ hilbfZevgh_ agZq_gb_ wdki_jbf_glZevghl_klbjmy ijb\h^ gZfZdkbfZevghc kdhjhklb Kdhjhklv kZfh_ f_^e_ggh_ kZfh_ [ukljh_ <j_fy \k_dmg^Zo ^eydhfi_gkZpbb exnlZ j_^mdlhjZDhfi_gkZpby exnlZ ijhba\h^blky dZ`^ucjZadh]^Z baf_gy_lky gZijZ\e_gb_\jZs_gby ^\b]Zl_ey?keb <Zfg_ gm`gh dhfi_gkbjh\Zlv exnlmklZgh\bl_ wlhl iZjZf_lj \ JZ[hqZy qZklhlZ^ey dhfi_gkZpbb exnlZ \=pLbibqgh_ agZq_gb_hl =p ^h=p Hl wlh]hiZjZf_ljZ aZ\bkbldZd [ukljh [m^_lijh\_^_gZ dhfi_gkZpby exnlZ j_^mdlhjZLZd dZdwlZ qZklhlZ ih^Z_lky gZ^\b]Zl_ev h^ghdjZlghb [_a nZaumkdhj_gbyg_ ke_^m_l aZ^Z\Zlv __agZq_gb_ kebrdhf \ukhdbf GZijZ\e_gb_ \jZs_gby\ZeZ ^\b]Zl_ey e_\h_ OHIWbeb ijZ\h_ULJKWkf i JZaj_rZxsZy kihkh[ghklv^ZlqbdZ m]eh\h]h iheh`_gby\ dhebq_kl\_ bfimevkh\ gZh[hjhlmfgh`_gghf gZ L_^ey ^ZlqbdZk bfimevkZfb gZh[hjhl g_h[oh^bfh aZ^Zlv < kemqZ__keb \Ze ^ZlqbdZ k\yaZgk hkvxijb\h^Z g_ ijyfhZ q_j_ag_dhlhjmx i_j_^Zqm g_h[oh^bfh mq_klvi_j_^Zlhqgh_ hlghr_gb_ wlhci_j_^ZqbKfi GZijZ\e_gb_ \jZs_gby\ZeZ ^ZlqbdZ e_\h_ OHIWbeb ijZ\h_ULJKWkf i Gb`_ ijb\h^ylkyg_dhlhju_ ihe_agu_nhjfmeu ^ey jZkq_lh\ Nhjfmeu kijZ\_^eb\u^ey kb^_jZevghc kdhjhklb JZ[hqZy qZklhlZ^\b]Zl_ey I 0B65HY 0B*HDU VHF I_jbh^ \jZs_gby\ZeZ ^\b]Zl_ey VHF W 0B*HDU Ih^dexq_gb_ ^Zlqbdh\ m]eh\h]h iheh`_gby GZagZq_gb_ dhglZdlh\dhglZdlgh]h jZat_fZ ijhba\h^kl\Z nbjfu:HVWHUQ0RGXODUZ[khexlgh b^_glbqgh gZagZq_gbxdhglZdlh\ ZgZeh]bqguo jZat_fh\ kbkl_f³6N\&RPPDQGHU´³1*&0$;´b ³1*&0,1,0$;´ Ihwlhfm <ufh`_l_ bkihevah\Zlv^Zlqbdb hl wlbo kbkl_fb \)6 Ij_^mij_`^_gb_>Zlqbdb ³6N\VHQVRU´bf_xl ^jm]h_ gZagZq_gb_\u\h^h\lZd qlh^ey bo bkihevah\Zgby <Zfg_h[oh^bfu ki_pbZevgu_ kh_^bgbl_evgu_ dZ[_eb < kemqZ__keb <uih^dexqZ_l_ ^Zlqbdb kZfhklhyl_evgh[m^vl_ ij_^_evgh \gbfZl_evgulZd dZdhrb[db \ih^dexq_gbb fh]ml ijb\_klbd \uoh^m^Zlqbdh\ bakljhy x Ihke_ ih^dexq_gby^Zlqbdh\ <Zfg_h[oh^bfh aZ^Zlv boiZjZf_lju q_j_akbkl_fm f_gx 0LVF(QFRGHU ³\HV´ 0RWB5$0B(QF5 Qbkeh bfimevkh\gZ h[hjhl ^ZlqbdZ ijyfh]h \hkoh`^_gbymfgh`_ggh_ gZ 0RWB'H0B(QF5 Qbkeh bfimevkh\gZ h[hjhl ^ZlqbdZ kdehg_gby mfgh`_ggh_ gZ 0RWB5$0B(QF' GZijZ\e_gb_ \jZs_gby ^ZlqbdZ ijyfh]h \hkoh`^_gby 0RWB'H0B(QF' GZijZ\e_gb_ \jZs_gby ^ZlqbdZ kdehg_gby < kemqZ__keb ^Zlqbdbk\yaZgu khkvx fhglbjh\db g_ijyfhZ q_j_ag_dhlhjmx i_j_^Zqm j_^mdlhjam[qZluc j_f_gvbeb njbdpbhgg_h[oh^bfh hij_^_eblv i_j_^Zlhqgh_ qbkehwlhc i_j_^ZqbZ aZl_f mfgh`blv oZjZdl_jbklbdm^ZlqbdZ gZ i_j_^Zlhqgh_ qbkehb gZI_j_^Zlhqgh_ qbkeh fh`_l[ulv gZc^_ghba nhjfmeu *HDU5DWLR (QFRGHU $QJOH 7HOHVFRSH $QJOH ]^_ *HDU5DWLR±i_j_^Zlhqgh_ qbkeh (QFRGHU$QJOH±m]he ih\hjhlZ\ZeZ ^ZlqbdZ 7HOHVFRSH$QJOH±khhl\_lkl\mxsbc m]he ih\hjhlZ hkbfhglbjh\db Ijbfbl_ \h\gbfZgb_qlh fZdkbfZevgZy kdhjhklv \jZs_gby\ZeZ ^ZlqbdZ\ kbkl_f_)6 g_ fh`_lij_\urZlv \_ebqbgmbfimevkh\ \ k_dmg^m ^Z`_gZ dhjhldbcijhf_`mlhd \j_f_gb Ijbf_ju x >Zlqbd kjZaj_r_gb_f bfimevkh\ gZ h[hjhl g_ihkj_^kl\_gghk\yaZg khkvx fhglbjh\db >Zlqbd kjZaj_r_gb_f bfimevkh\ gZ h[hjhl k\yaZgk hkvxfhglbjh\db q_j_a ih\urZxsmx i_j_^Zqmk qbkehf Ijb wlhfkdhjhklv \jZs_gbyhkb g_^he`gZ ij_\urZlv h[k_d M]eh\h_ jZaj_r_gb_^ZlqbdZ \uqbkey_lkyih ke_^mxs_c nhjfme_ $QJOH 5HVROXWLRQ LQ'HJUHHV q 1XPEHURI /LQHV *HDU5DWLR Ijbf_ju x GZagZq_gb_ dhglZdlh\jZat_fZ ^Zlqbdh\[ehdZ )6 >Zlqbd ijyfh]h \hkoh`^_gbydZgZe % >Zlqbd ijyfh]h \hkoh`^_gby9 >Zlqbd ijyfh]h \hkoh`^_gbydZgZe $ >Zlqbd ijyfh]h\hkoh`^_gbyh[sbc >Zlqbd kdehg_gbydZgZe % >Zlqbd kdehg_gby9 >Zlqbd kdehg_gbydZgZe $ >Zlqbd kdehg_gbyh[sbc ijh\h^ Kdhjhklv \jZs_gby\ZeZ ^ZlqbdZg_ ^he`gZ ij_\urZlv h[hjhlZ \k_dmg^m x >Zlqbd kjZaj_r_gb_f bfimevkh\ gZ h[hjhl g_ihkj_^kl\_gghk\yaZg khkvx fhglbjh\db < wlhfkemqZ_ m]eh\h_jZaj_r_gb_ khklZ\bl s >Zlqbd kjZaj_r_gb_f bfimevkh\ gZ h[hjhl k\yaZgk hkvxfhglbjh\db q_j_a ih\urZxsmx i_j_^Zqmk qbkehf < wlhfkemqZ_ m]eh\h_jZaj_r_gb_ khklZ\bl s DZd \b^ghba ijbf_jh\ij_bfms_kl\h \ukhdh]h jZaj_r_gby l_kghk\yaZgh kg_^hklZldhf gbadhc fZdkbfZevghckdhjhklb ih\hjhlZhkb b gZh[hjhl Ke_^mxsbf \Z`gufiZjZf_ljhfk\yaZgguf k ^ZlqbdZfby\ey_lky \_ebqbgZ^himklbfh]h jZkkh]eZkh\Zgby ³0LVF7ROHUDQFH´ ?keb <ubkihevam_l_ ^Zlqbdbkms_kl\m_l ^\Z g_aZ\bkbfuo kihkh[Zih dhlhjuf)6fh`_l hij_^_eylv dhhj^bgZlulhqdb gZ\_^_gby Ih iheh`_gbxjhlhjh\ rZ]h\uo^\b]Zl_e_c Ij_bfms_kl\h\ukhdZy lhqghklv G_^hklZlhdKlhbl jZahj\Zlvf_oZgbq_kdmx k\yav f_`^m\Zehf ^\b]Zl_eyb hkvx fhglbjh\dbb hlh[jZ`Z_fu_dhhj^bgZlu klZgh\ylky g_dhjj_dlgufb Ih bgnhjfZpbbhl ^Zlqbdh\ Ij_bfms_kl\hIjZ\bevghklv \uqbke_gby dhhj^bgZl g_aZ\bkbl hlk\yab f_`^m \Zehf ^\b]Zl_eyb hkvxfhglbjh\dblZd dZd ^Zlqbdhij_^_ey_l m]eh\h_iheh`_gb_ hkb g_ihkj_^kl\_gghWlh h^gZba ijbqbgihq_fm ke_^m_lkh_^bgylv \Ze ^ZlqbdZ khkvx fhglbjh\dbZ g_\Zehf ^\b]Zl_ey G_^hklZlhdLhqghklv agZqbl_evghf_gvr_ ;ehd )6ihklhyggh \uqbkey_ldhhj^bgZlu ba h[hbo bklhqgbdh\bgnhjfZpbb bkjZ\gb\Z_l bo DZd lhevdhjZaghklv klZgh\blky\ur_ aZ^Zgghc \_ebqbgu)6Z\lhfZlbq_kdb i_j_dexqZ_lkyba j_`bfZ hij_^_e_gbydhhj^bgZl ihiheh`_gbx jhlhjh\ rZ]h\uo^\b]Zl_e_c \j_`bf hij_^_e_gby dhhj^bgZlih bgnhjfZpbbhl ^Zlqbdh\ <u fh`_l_aZ^Zlv ^himklbfmx\_ebqbgm jZkkh]eZkh\Zgby q_j_akbkl_fm f_gx ³0LVF7ROHUDQFH´Lbibqgufb \_ebqbgZfb y\eyxlky agZq_gbyhl ^h KjZam ihke_\uiheg_gby ijb\yadbd hihjghfm h[t_dlm q_j_a³5HI2EM´kbkl_fZ gZqbgZ_l hlh[jZ`_gb_ dhhj^bgZl\uqbkey_fuo ih iheh`_gbx jhlhjh\rZ]h\uo ^\b]Zl_e_cdZd [he__ lhqguoWlh ijh^he`Z_lky^h l_oihj ihdZ jZkkh]eZkh\Zgb_g_ ij_\ukblaZ^Zggmx \_ebqbgm?keb g_jZaju\Zlv k\yavf_`^m \Zehf ^\b]Zl_eyb hkvxfhglbjh\dbi_j_oh^Z gZ dhhj^bgZluhl ^Zlqbdh\g_ ijhbahc^_l gbdh]^Z AZ^Zgb_ gZijZ\e_gbc ^\b`_gby Ij_`^_ q_fgZqZlv wlhlwlZiaZ^Zcl_ dhjj_dlgu_ agZq_gby\k_o iZjZf_ljh\ijb\h^h\ <Zr_c fhglbjh\db\ kbkl_f_f_gx <Z`gh_ aZf_qZgb_ Nmgdpby i_j_gZagZq_gbydghihd mijZ\e_gby ^he`gZ [ulv\udexq_gZ ijbijh\_^_gbb wlh]h wlZiZ?keb wlhg_ lZdaZc^bl_ \f_gx ³0LVF%XWWRQV´b \u[_jbl_imgdl ³QRUPDO´ >Ze__ \uihegbl_^ey <Zr_cfhglbjh\db ke_^mxsb_ h[yaZl_evgu_l_klu >ey ^\b]Zl_eyijb\h^Z ijyfh]h\hkoh`^_gby JZa\_jgbl_ l_e_kdhigZ x]\dexqbl_ \ukhdmx kdhjhklv gZ\_^_gbyb gZ`fbl_ijZ\mx dghidm gZijZ\e_gby ³:´mf_gvr_gb_ ijyfh]h \hkoh`^_gbyGZ wlhfwlZi_ ihdZaZgby bg^bdZlhjZ g_b]jZxl gbdZdhcjheb ^hklZlhqgh m[_^blvkyqlh l_e_kdhi jZa\hjZqb\Z_lky \aZiZ^ghf gZijZ\e_gbb?keb ih\hjhl ijhbkoh^bl\ h[jZlgmxklhjhgm baf_gbl_ aZ^Zgb_gZijZ\e_gby \kbkl_f_ f_gx iZjZf_lj ³0B/5´ L_i_jv ijh\_jbfijZ\bevghklv aZ^Zgby gZijZ\e_gbc ^eyijb\h^Z kdehg_gby GZijZ\vl_ l_e_kdhiijb[ebabl_evgh gZ\hklhd b \uihegbl_nmgdpbx ³5HI2EM´kbkl_fu f_gx <u[_jbl_ i_j\mx`_ hihjgmxa\_a^m :evnm :g^jhf_^uZ gZ\hijhk hiheh`_gbb l_e_kdhiZ hl\_lvl_gZ`Zlb_f dghidb³(´ \e_\hL_i_jv )6³agZ_l´qlh <Zrb l_e_kdhi b fhglbjh\dZgZijZ\e_gu gZ\hklhd <dexqbl_ \ukhdmxkdhjhklv gZ\_^_gbyb gZ`fbl_ dghidm³1´m\_ebq_gb_ kdehg_gby G_ h[jZsZcl_\gbfZgby gZihdZaZgby bg^bdZlhjZ>hklZlhqgh ebrvm[_^blvkyqlh l_e_kdhi ih\hjZqb\Z_lky\ gm`ghfgZijZ\e_gbb d k_\_jm< ijhlb\ghfkemqZ_baf_gbl_ aZ^Zgb_ gZijZ\e_gby\ kbkl_f_f_gx iZjZf_lj ³0B/5´ ?keb <ubkihevam_l_ ^Zlqbdbm]eh\h]h iheh`_gbyg_h[oh^bfh lZd`_ijh\_jblv ijZ\bevghklv aZ^ZgbygZijZ\e_gbc ^eygbo ?keb kbf\hehlh[jZ`Z_fuc \ijZ\hf gb`g_f m]em bg^bdZlhjZhlebqZ_lky hllj_[m_fh]h k_cqZk ³(´HQFRGHUVbeb ^Zlqbdb ^h[_cl_kv jZkkh]eZkh\Zgbyf_`^m dhhj^bgZlZfb\uqbkey_fufb ih^ZlqbdZf bih ^\b]Zl_eyf>ey wlh]hjZahfdgbl_ q_j\yqgmx iZjm bih\_jgbl_ l_e_kdhijmdhc \e_\h\ijZ\h b \\_jo\gba jmdhcL_i_jv bg^bdZlhj^he`_g ihdZaZlv kbf\he³(´ >ey ^ZlqbdZijyfh]h \hkoh`^_gby JZa\_jgbl_ l_e_kdhiijb[ebabl_evgh gZx] b aZl_f f_^e_gghih\hjZqb\Zcl_ _]hgZ aZiZ^ \jmqgmxBg^bdZlhj ^he`_gihdZau\Zlv mf_gvr_gb_ \_ebqbguijyfh]h \hkoh`^_gby ?keb wlhg_ lZdbaf_gbl_ aZ^Zgb_ gZijZ\e_gby ^ZlqbdZ\ kbkl_f_f_gx iZjZf_lj ³0B(QF'´ B l_i_jvihke_^gbc l_kl^ey ^ZlqbdZ kdehg_gby GZijZ\vl_ l_e_kdhiijb[ebabl_evgh gZ\hklhd b \uihegbl_nmgdpbx ³5HI2EM´kbkl_fu f_gx <u[_jbl_ kZfmxi_j\mx hihjgmxa\_a^m :evnm :g^jhf_^uZ gZ\hijhk hiheh`_gbb l_e_kdhiZ hl\_lvl_gZ`Zlb_f dghidb³(´ \e_\hL_i_jv )6³agZ_l´qlh <Zrb l_e_kdhi b fhglbjh\dZgZijZ\e_gu gZ\hklhd <jmqgmx ih\hjZqb\Zcl_l_e_kdhi \k_\_jghf gZijZ\e_gbb d Iheyjghca\_a^_IhdZaZgby kdehg_gby gZbg^bdZlhj_ ^he`gu\hajZklZlv< ijhlb\ghf kemqZ_baf_gbl_ aZ^Zgb_ gZijZ\e_gby ^ZlqbdZ\ kbkl_f_f_gx iZjZf_lj ³0B(QF'´ Kibkhd hihjguoa\_a^ Kha\_a^b_ @_jl\_ggbd :g^jhf_^Z Klj_e_p L_e_p DZkkbhi_y D_glZ\j Khdj A\_a^u $UDDE $QGDEJ 6JUJGHOSV 7DXDEK &DVDEJG &HQDEJGH] K-L P_n_c &HSD <hagbqbc $XUDEH-L @mjZ\ev *UXD XDj_kl &UXDEJG <hjhg &UYEJG =hem[v &ROD >jZdhg 'UDEJK Hj_e $TODJ] Wjb^Zg (ULDEJFmoZ 0XVD Dha_jh] &DSG ;F_^\_^bpZ 8PDDEJH]K ;I_k &PDDEGHK AZyp /HSDE =_jdme_k +HUE] <hehiZk %RRDHK =hgqb_ Iku &9QD Dbev &DUDEH-LX FI_k &PLDE E_\ /HRDEJGH FF_^\_^bpZ 8PLDE EbjZ /\UD K_\DhjhgZ &U%D =b^jZ +\DD Hjbhg 2ULDEJGH]L N IZ\ebg 3DYD I_]Zk 3HJDEJHK I_jk_c 3HUDEJH] N_gbdk 3KHD DhjfZ 3XS]SUW H\_g $ULDE IZjmkZ 9HOJGNOP <_ku /LEDE Kdhjibhg 6FRDE GH-N OSVWX Af_y 6HUD Af__ghk_p 2SKDEG]K XJu[Z 3V$D XLj_m]hevgbd 7U$DEJ X=b^jZ +\LDE E_[_^v &\JDE JGH LmdZg 7XFD ;ebag_pu *HPDEJHP >_\Z 9LUDJH <h^he_c $TUDE Dbl &HWDE <hed /XSDEJ =j_q_kdbc ZenZ\bl D E J G H 9 K L N O P :evnZ ;_lZ =ZffZ >_evlZ Wikbehg >a_lZ WlZ L_lZ ChlZ DZiiZ EZf[^Z Fx Q Gx [ Dkb R Hfbdjhg S Ib U Jh V Kb]fZ W LZm X Bikbehg M Nb F Ob \ Ikb Z Hf_]Z Kibkhd a\_a^k kh[kl\_ggufb bf_gZfb :ev[bj_h :ev^_[ZjZg :ev^_jZfbg :e]hev :ebhl :evfZo :evnZj^ :evn_jZp :evlZbj :glZj_k :jdlmj ;_eeZljbdk ;_g_lgZo ;_l_ev]_ca_ DZi_eeZ DZklhj >_g_[ >_g_[heZ >m[o_ NhfZev]Zml =_ffZ OZfZev DZmk :mklZebk DhoZ[ FZjdZ[ F_jZd FbjZo FbjnZd FbpZj N_d^Z IheyjgZy Iheemdk Ijhpbhg JZk :eoZ] J_]me Jb]_ev R_Zl R_^Zj Kbjbmk Kibd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ogbq_kdb_ ^Zggu_fhglbjh\hd $2.[ueb ex[_aghij_^hklZ\e_gu khljm^gbdhf$2.6ZLVV]ghf %HDW.RKOHU L_ogbq_kdb_ ^Zggu_fhglbjh\hd 0$0[ueb ex[_aghij_^hklZ\e_gu ]ghf 0DQIUHG0DX] [ Ijbf_qZgby $ $ $ FZdkbfZevgZy kdhjhklv ijb[e Qbkeh am[v_\ q_j\yqgh]h dhe_kZ ijb\h^Z ijyfh]h \hkoh`^_gby $ $ $ $ $ $ $ $ $ JZaj_rZxsZy kihkh[ghklv ^ZlqbdZ I_j_^Zlhqgh_ qbkeh ijb\h^Z kdehg_gby I_j_^Zlhqgh_ qbkeh ijb\h^Z ijyfh]h \hkoh`^_gby Dhebq_kl\h rZ]h\gZ h[hjhl : Lhd h[fhlh_ hl^h 6$,$8)' 9 6$,$8)' 9 6$,$8)' 9 6$,$8)' 9 6$,$ 8)%9 Khijhlb\e_gb_ h[fhlhd $2.:$0 Lbi ^\b]Zl_e_c Fhglbjh\dZ L_ogbq_kdb_ ^Zggu_g_dhlhjuo fhglbjh\hd [ [ [ " P FD [ FD [ P FD [ P P FD [ FD [ FD [ [ [ [" [ [ [ Ijbf_qZgby G_dhlhju_ klZju_fhglbjh\db h[hjm^h\Zgu<hevlh\ufb ^\b]Zl_eyfbjZ[hqbc lhddhlhjuo khklZ\ey_l$Fgh]b_ fhglbjh\db k ^\b]Zl_eyfbgZ <hevl bf_xl\kljh_ggu_ ihke_^h\Zl_evgu_khijhlb\e_gbyWlb khijhlb\e_gbyg_h[oh^bfu ijbjZ[hl_ k[ehdhf ³6LQXV´gh [_kihe_aguijb bkihevah\Zgbb[ehdZ )6Ih lj_[h\ZgbxaZdZaqbdZ wlbfhglbjh\db fh]ml[ulv hkgZs_gu ^\b]Zl_eyfb (6&$3 I_j_^_edZ gZ^\b]Zl_eb (6&$3\hafh`gZgh ljm^gZ I_j_^_edZgZ^\b]Zl_eb (6&$3g_kebrdhfljm^gZG_h[oh^bfu ebrvih^oh^ysb_ f_oZgbq_kdb_qZklb ^eymklZgh\db gh\uo^\b]Zl_e_c < g_dhlhjuoklZjuo ^\b]Zl_eyokj_^gb_ lhqdbh[fhlhd kh_^bg_guf_`^m kh[hc>ey jZ[hluk )6g_h[oh^bfh jZahj\Zlvwlb kh_^bg_gby< ijhlb\ghfkemqZ_^\b]Zl_eb fh]ml\jZsZlvky g_ijZ\bevghbeb g_\jZsZlvky kh\k_f >eyi_j_^_edbgZ^\b]Zl_eb(6&$3 g_h[oh^bfu ebrvkh_^bgbl_evgu_ fmnlub dj_i_`gu_^_lZeb ^eymklZgh\db gh\uo^\b]Zl_e_c Ijb jZ[hl_k hjb]bgZevguf[ehdhf 0$0ijb gZijy`_gbb<hevl bijb fZdkbfZevghflhd_gZb[hevrZy kdhjhklvgZ\_^_gby fh`_l khklZ\eylv [ LZd dZdi_j_^Zlhqgh_ qbkehijb\h^Z kdehg_gbyg_ p_eh_qbkehg_h[oh^bfh aZ^Zlv_]h jZ\gufZ 65HYmklZgh\blv jZ\guf LZd dZdi_j_^Zlhqgh_ qbkehijb\h^Z kdehg_gbyg_ p_eh_qbkehg_h[oh^bfh aZ^Zlv_]h jZ\gufZ 65HYmklZgh\blv jZ\guf
![E Wdhghfbq_kdbc bKhpbZevgucKh\_l Hj]ZgbaZpbyH[t_^bg_gguoGZpbc](http://s1.studylib.ru/store/data/002574160_1-5dbc6755b88ca1f11b5e7f21df38a602-300x300.png)
