Libros

.+$415
'ZRGTKGPEKCCFSWKTKFCGPOCVGTKCFGſLCEKÎP
FGFWPCU
(KIJVKPIUCPFGPETQCEJOGPVŌNGUUQPUHTQO/CWTKVCPKC%,$GTVG(#1(QTGUVT[
2CRGT0Q4QOC(#1+5$0
7PQFGNQUOC[QTGUFGUCHÈQURNCPVGCFQURQTNCFGUGTVKſECEKÎPGUNC
KPXCUKÎPFGCTGPCUOQXGFK\CUEW[CUTGRGTEWUKQPGUCODKGPVCNGU[
UQEKQGEQPÎOKECUUQPFGXCUVCFQTCUTGFWEGNCUWRGTſEKGFGVKGTTCU
CTCDNGU [ FG RCUVQTGQ [ NC FKURQPKDKNKFCF FG TGEWTUQU JÈFTKEQU
COGPC\CNCRTQFWEVKXKFCFCITÈEQNCNQUTGPFKOKGPVQU[NCUGIWTKFCF
CNKOGPVCTKC[NCUEQPFKEKQPGUFGXKFCFGNCURQDNCEKQPGUNQECNGU'PVTG
QVTQUKORCEVQUGUV¶POKITCEKQPGUJWOCPCUOCUKXCUFCÌQUCNCU
KPHTCGUVTWEVWTCU[RÃTFKFCUGEQPÎOKECUKORQTVCPVGU/CWTKVCPKCSWG
GUWPQFGNQURCÈUGUUWDUCJCTKCPQUO¶UITCXGOGPVGCHGEVCFQUJC
CEWOWNCFQWPCGZRGTKGPEKCEQPUKFGTCDNGGPNCNWEJCEQPVTCNCUCTGPCU
KPXCUKXCUCNQNCTIQFGNCUÕNVKOCUFÃECFCU'UVCRWDNKECEKÎPTGUWOG
NCUGZRGTKGPEKCUCRTGPFKFCUGURGEKCNOGPVGGPNQSWGUGTGſGTGC
NCGLGEWEKÎPFGWPRTQ[GEVQTGEKGPVGOGPVGEQPENWKFQFGUVKPCFQCNC
TGJCDKNKVCEKÎP[CORNKCEKÎPFGN%KPVWTÎPXGTFGFG0QWCMEJQVVNNGXCFQ
CECDQRQTNC(#1[GN)QDKGTPQFG/CWTKVCPKCEQPGNCRQ[QFGNC
4GIKÎP8CNQPCFG$ÃNIKEC
.CRWDNKECEKÎPFGUETKDGNQURTQEGUQUFGKPXCUKÎPFGCTGPCU[NQU
RTQEGFKOKGPVQUFGEQPVTQNFGNQUGUVWFKQURTGNKOKPCTGUCNQUOÃVQFQU
FGXKXGTQ[CNCUVÃEPKECUFGſLCEKÎPFGFWPCUōVCPVQOGE¶PKECUEQOQ
DKQNÎIKECUō[NCRTQVGEEKÎPFGNCU¶TGCUTGHQTGUVCFCU6CODKÃPUG
CDQTFCPNQUCURGEVQUFGIGUVKÎPFGRTQ[GEVQUGKPUVKVWEKQPCNGUEQP
JKPECRKÃGPNCCRNKECEKÎPFGWPGPHQSWGRCTVKEKRCVKXQ'PNQUCPGZQU
UGKPENW[GPNQURGTſNGUFGNCUGURGEKGUOCFGTGTCU[FGITCOÈPGCU
WUCFCURCTCNCſLCEKÎPFGFWPCU[UGRTGUGPVCPVCDNCURCTCIGUVKÎP
FGCEVKXKFCFGU[RTGUWRWGUVQU[EQPVTQNFGNQURTQITGUQUTGCNK\CFQU
SWGUQPÕVKNGUEQOQOQFGNQRCTCCEVKXKFCFGUHWVWTCU
.CUNGEEKQPGUSWGUGFGUETKDGPGPGUVGNKDTQRWGFGPUGTCFCRVCFCU
C QVTQU RCÈUGU SWG GPHTGPVCP RTQDNGOCU UKOKNCTGU .C RWDNKECEKÎP
UGT¶FGKPVGTÃURCTCVÃEPKEQUFKTGEVQTGUFGRTQ[GEVQEQOWPKFCFGU
NQECNGU[FGJGEJQRCTCVQFCUNCURCTVGUKPVGTGUCFCUSWGKPVGTXKGPGP
GPNCNWEJCEQPVTCNCFGUGTVKſECEKÎP
.CRWDNKECEKÎPGUV¶FKURQPKDNGGPNÈPGCGPYYYHCQQTIFQETGR
KGKGJVO
8QDV\OYD9RO
.CKPFWUVTKCHQTGUVCN[GNECODKQENKO¶VKEQ
+ORCEVQHVJGINQDCNHQTGUVKPFWUVT[QPCVOQURJGTKEITGGPJQWUGICUGU4/KPGT
(#1(QTGUVT[2CRGT0Q4QOC(#1+5$0
'UVCRWDNKECEKÎPGPECTICFCRQTNC(#1[GN%QPUGLQ+PVGTPCEKQPCN
FG #UQEKCEKQPGU (QTGUVCNGU [ 2CRGNGTCU GZCOKPC NCU PWOGTQUCU
[ EQORNGLCU EQPGZKQPGU GPVTG NC KPFWUVTKC OWPFKCN FG RTQFWEVQU
HQTGUVCNGU SWG GP NC RTGUGPVG QDTC EQORTGPFG NC RTQFWEEKÎP FG
OCFGTCGPTQNNQNCRCUVC[GNRCRGN[NCGNCDQTCEKÎPOCFGTGTC[GN
EKENQOWPFKCNFGNECTDQPQEQPGNQDLGVKXQFGECTCEVGTK\CTNCJWGNNCFG
ECTDQPQFGNUGEVQT%CFCWPQFGNQUECRÈVWNQUVTCVCFGEWCPVKſECTWPQ
0WGXCUGFKEKQPGUFGNCURWDNKECEKQPGU
GUVCFÈUVKECUFGNC(#1
#PWCTKQ(#1FGRTQFWEVQUHQTGUVCNGU4QOC
(#1+5$0
'UVG CPWCTKQ GU WPC EQORKNCEKÎP OWNVKNKPI×G
FGFCVQUGUVCFÈUVKEQUUQDTGRTQFWEVQUD¶UKEQU
HQTGUVCNGURCTCVQFQUNQURCÈUGU[VGTTKVQTKQUFGN
OWPFQ'UVCmGFKEKÎPEQPVKGPGFCVQUCPWCNGU
UQDTG RTQFWEEKÎP [ EQOGTEKQ FG RTQFWEVQU
HQTGUVCNGURCTCNQUCÌQU[QTKGPVCEKQPGUFGNEQOGTEKQ
GP[.CRWDNKECEKÎPVCODKÃPGUV¶FKURQPKDNGGPNÈPGC
YYYHCQQTIFQETGRKOKOJVO
%CRCEKFCFGUFGRCUVC[RCRGN'UVWFKQ
4QOC(#1+5$0
'UVCGPEWGUVCCPWCNRTGUGPVCNCUECRCEKFCFGU
FGRCUVC[RCRGNRQTRCÈU[RQTRTQFWEVQ[QHTGEG
EWCFTQUFGRTQFWEEKÎPRQTRCÈU'UV¶DCUCFCGP
NCUTGURWGUVCUCNCGPEWGUVCGPXKCFCURQTNQU
EQTTGURQPUCNGUGPNQURCÈUGU
RTKPEKRCNOGPVGCUQEKCEKQPGUFG
RCUVC[RCRGNQGORTGUCURCRGNGTCUFGRCÈUGUSWGTGRTGUGPVCP
CNTGFGFQTFGNRQTEKGPVQFGNCRTQFWEEKÎPOWPFKCNFGRCRGN
[ECTVÎP.CRWDNKECEKÎPVCODKÃPGUV¶FKURQPKDNGGPNÈPGCYYY
HCQQTIFQETGRKVKVRFH
.+$415
FGNQURTKPEKRCNGUKORCEVQUFGNUGEVQTGNUGEWGUVTQ[CNOCEGPCOKGPVQ
FGECTDQPQGPNQUDQUSWGU[GPNQURTQFWEVQUHQTGUVCNGUNCUGOKUKQPGU
FGICUGUFGGHGEVQKPXGTPCFGTQRTQEGFGPVGUFGNCUKPUVCNCEKQPGUFG
KPVGPUKſECT CN O¶ZKOQ NQU DGPGſEKQU KPOGFKCVQU [ C NCTIQ RNC\Q
GUPGEGUCTKQSWGGPGN¶ODKVQFGNCRTQFWEEKÎPNCRTQOQEKÎP[GN
HCDTKECEKÎPQFGNQURTQFWEVQTGUFGGNGEVTKEKFCFSWGNGUUWOKPKUVTCP
WUQFGNCDKQGPGTIÈCGZKUVCPOCTEQUPQTOCVKXQU[LWTÈFKEQUUÎNKFQU
RCTCCUGIWTCTSWGNCUEQPUKFGTCEKQPGUTGNCVKXCUCNCUQUVGPKDKNKFCF
GPGTIÈC QVTCU GOKUKQPGU SWG RWGFGP UGT CVTKDWKFCU CN RTQEGUQ
UQEKQGEQPÎOKEC[OGFKQCODKGPVCNUGVGPICPFGDKFCOGPVGGPEWGPVC
FG HCDTKECEKÎP VTCPURQTVG [ WUQ FG NQU RTQFWEVQU NCU GOKUKQPGU
#VTCXÃUFGWPCUGTKGFGGUVWFKQUFGECUQFGRCÈUGUGUVCRWDNKECEKÎP
VKGPGRQTQDLGVQHQTOWNCTTGEQOGPFCEKQPGUGURGEÈſECUFGUVKPCFCUC
CUQEKCFCUEQPNCIGUVKÎPFGNſPFGXKFCFGNRTQFWEVQNCUGOKUKQPGU
GXKVCFCUGPQVTCURCTVGUFGNCUQEKGFCFEWCPFQRQTGLGORNQITCEKCU
CNWUQFGRTQFWEVQUHQTGUVCNGUUGTGGORNC\CPRTQFWEVQUCNVGTPCVKXQU
O¶UIGPGTCFQTGUFGEQPEGPVTCEKQPGUFGICUGUFGGHGEVQKPXGTPCFGTQ
Q UG UWUVKVW[GP NQU EQODWUVKDNGU HÎUKNGU .QU E¶NEWNQU FGVCNNCFQU
EQP SWG UG UWUVGPVCP GUVQU CP¶NKUKU UG CRQTVCP GP WP CPGZQ 7P
UGIWPFQCPGZQRTGUGPVCWPCXKUKÎPIGPGTCNFGNCEQPVCDKNKFCFFG
ECTDQPQFGNQURTQFWEVQUOCFGTGTQUEQUGEJCFQUEQPNCſPCNKFCF
FGGNCDQTCTKPXGPVCTKQUPCEKQPCNGUFGICUGUFGGHGEVQKPXGTPCFGTQ
DCLQGN2TQVQEQNQFG-[QVQ
'N GUVWFKQ NNGIC C NC EQPENWUKÎP FG SWG NCU RTKPEKRCNGU HWGPVGU
FGGOKUKÎPFGNUGEVQTUQPNCHCDTKECEKÎP
RTKPEKRCNOGPVGFGDKFQCN
EQPUWOQFGEQODWUVKDNGUHÎUKNGU[CNCEQORTCFGGPGTIÈCGNÃEVTKEC
[NCGNKOKPCEKÎPGPXGTVGFGTQUFGNQURTQFWEVQUWUCFQU
#PKXGNOWPFKCNPQGURQUKDNGJCEGTWPCFGUETKREKÎPEWCPVKVCVKXCFGN
KORCEVQGLGTEKFQRQTNCKPFWUVTKCGPGNECTDQPQFGNQUDQUSWGUFGDKFQ
CNCECTGPEKCFGFCVQUGPOWEJCURCTVGUFGNINQDQ[CNCEQORNGLKFCF
FGNCECFGPCFGUWOKPKUVTQFGOCVGTKCRTKOCSWGECTCEVGTK\CCGUVG
UGEVQT.QUFCVQU FG CNIWPQU RCÈUGU KPFKECP UKP GODCTIQSWGNCU
RT¶EVKECU FG QTFGPCEKÎP HQTGUVCN UQUVGPKDNG RWGFGP UGT GſECEGU
RCTCOCPVGPGTNCGUVCDKNKFCFFGNCUGZKUVGPEKCUFGECTDQPQCNQNCTIQ
FGNVKGORQ7PCRQTEKÎPFGNECTDQPQSWGUGTGVKTCFGNQUDQUSWGU
RGTOCPGEGCNOCEGPCFCGPNQURTQFWEVQUHQTGUVCNGUNQSWGUGVTCFWEG
GPDGPGſEKQUUKIPKſECVKXQU#WPSWGFKHÈEKNGUFGOGFKTNQUDGPGſEKQU
KPFKTGEVQUSWGFGTKXCPFGNQUICUGUFGGHGEVQKPXGTPCFGTQTGUWNVCPVGU
FGNCUCEVKXKFCFGUQRTQFWEVQUFGNCKPFWUVTKCHQTGUVCNRWGFGPUGT
KORQTVCPVGU[FGDGTÈCPUGTKPETGOGPVCFQU
.CRWDNKECEKÎPRWGFGUGTFGUECTICFCGPYYYHCQQTIFQETGR
KGKGJVO
$KQGPGTIÈCNQUOCTEQULWTÈFKEQUŗ
%CUGUVWFKGUQPDKQGPGTI[RQNKE[CPFNCYQRVKQPUHQTUWUVCKPCDKNKV['/QTIGTC--WNQXGUK
[#)QDGPC(#1.GIKUNCVKXG5VWF[0Q4QOC(#1+5$0
%QP XKUVCU C OKPKOK\CT GN TKGUIQ FG TGRGTEWUKQPGU CFXGTUCU G
NQUTGURQPUCDNGUFGNCURQNÈVKECU[CNQUTGFCEVQTGUFGVGZVQULWTÈFKEQU
EQPGNſPFGICTCPVK\CTSWGNQUKPUVTWOGPVQUFGRQNÈVKEC[PQTOCVKXQU
TGNCVKXQUCNCDKQGPGTIÈCEQPVTKDW[CPCNCUGIWTKFCFCNKOGPVCTKCCN
FGUCTTQNNQTWTCN[CNCUQUVGPKDKNKFCFCODKGPVCN
'N GUVWFKQ EQOKGP\C KPFKECPFQ NQU EQORTQOKUQU KPVGTPCEKQPCNGU
SWG UQP RGTVKPGPVGU RCTC NC RTQFWEEKÎP RTQOQEKÎP [ WUQ FG NC
DKQGPGTIÈCJCEKGPFQGURGEKCNJKPECRKÃGPVTGUUGEVQTGUFGNFGTGEJQ
KPVGTPCEKQPCN GN EQOGTEKQ GN ECODKQ ENKO¶VKEQ [ NC DKQFKXGTUKFCF
.QUKPUVTWOGPVQULWTÈFKEQUKPVGTPCEKQPCNGUHWGTQPUGNGEEKQPCFQUGP
HWPEKÎPFGUWRTQDCDNGKPƀWGPEKCGPNCGUVTWEVWTCEKÎPFGNQUOCTEQU
LWTÈFKEQUTGNCEKQPCFQUEQPNCDKQGPGTIÈC[UGCDQTFCPGPFKXGTUQU
ITCFQUGPNQUGUVWFKQUFGECUQ
.C 2CTVG ++ EQPUKUVG GP GUVWFKQU FG ECUQ SWG RGTſNCP NC RQNÈVKEC
[NGIKUNCEKÎPDKQGPGTIÃVKECGP#TIGPVKPC$TCUKN'UVQPKC(KNKRKPCU
/ÃZKEQ 4GRÕDNKEC 7PKFC FG 6CP\CPÈC [ 6CKNCPFKC .C 2CTVG +++
EQORCTC [ CPCNK\C NCU RTKPEKRCNGU EQPENWUKQPGU G KPXGUVKIC QVTCU
QREKQPGUFGUVKPCFCUCCUGIWTCTNCUQUVGPKDKNKFCFGEQPÎOKECUQEKCN
[CODKGPVCNFGNFGUCTTQNNQFGNCDKQGPGTIÈC
.CRWDNKECEKÎPGUV¶FKURQPKDNGGPNÈPGCGPYYYHCQQTIFQETGR
KGKGJVO
ŗ[NCUEWGUVKQPGUTGNCEKQPCFCUEQPGNWUQ
UQUVGPKDNGFGNCVKGTTC
(WVWTG DKQGPGTI[ CPF UWUVCKPCDNG NCPF WUG 4 5EJWDGTV *, 5EJGNNPJWDGT 0
$WEJOCPP # 'RKPG[ 4 )TKG²JCOOGT / -WNGUUC & /GUUPGT 5 4CJOUVQTH [
,5EJOKF.QPFTGU4GKPQ7PKFQ'CTVJUECP+5$0
%QORKNCFQRQTGN%QPUGLQ#UGUQTUQDTGGN%CODKQ/WPFKCNōWPC
GPVKFCF EKGPVÈſEC KPFGRGPFKGPVG CUGUQTC FGN )QDKGTPQ HGFGTCN
CNGO¶PōGUVGGZVGPUQ[FGVCNNCFQKPHQTOGGZCOKPCNCUEWGUVKQPGU
TGNCEKQPCFCU EQP NC DKQGPGTIÈC FGUFG WPC RGTURGEVKXC OWPFKCN [
FGOWGUVTC EÎOQ ITCEKCU C WP WUQ UQUVGPKDNG FG NC DKQGPGTIÈC GU
RQUKDNGEQPVTKDWKTCOKPKOK\CTNQUTKGUIQUXKPEWNCFQUCNCUGIWTKFCF
CNKOGPVCTKCNCEQPUGTXCEKÎPFGNCPCVWTCNG\C[GNECODKQENKO¶VKEQ
8QDV\OYD9RO
.+$415
'N %QPUGLQ EQPUKFGTC SWG NC DKQGPGTIÈC GPEKGTTC GN RQVGPEKCN FG
CRQTVCT JCUVC GN RQT EKGPVQ FG NC GPGTIÈC RTKOCTKC EQPUWOKFC
CEVWCNOGPVG GP GN OWPFQ [ UWIKGTG SWG NC RQNÈVKEC DKQGPGTIÃVKEC
FGDGTÈCQTKGPVCTUGUQDTGVQFQCNCOKVKICEKÎPFGNECODKQENKO¶VKEQ[
CNCGNKOKPCEKÎPFGNCnRQDTG\CGPGTIÃVKEC€
.CRTKOGTCUGEEKÎPFGUETKDGCNIWPCUNKOKVCEKQPGUTGNCEKQPCFCUEQP
NCUQUVGPKDKNKFCFGPOCVGTKCFGDKQGPGTIÈCTGEWTTKGPFQCNEQPEGRVQFG
nDCTTGTCUFGRTQVGEEKÎP€EQPGNSWGUGFGſPGPEWCPVKVCVKXCOGPVG
NQUNÈOKVGUFGFCÌQURCTCWPCUGTKGFGXCTKCDNGUVCPVQGEQNÎIKECU
EQOQUQEKQGEQPÎOKECU.CUWRGTCEKÎPFGGUVQUNÈOKVGUVGPFTÈCGHGEVQU
KPVQNGTCDNGUQRQVGPEKCNOGPVGECVCUVTÎſEQU.QUECRÈVWNQUUKIWKGPVGU
KPENW[GPCP¶NKUKUFGVGPFGPEKCUFGWUQFGNCVKGTTCFGNQUUKUVGOCU
DKQGPGTIÃVKEQU[FGNCEQORGVGPEKCRQTGNWUQFGNCVKGTTCRCTCNC
VQFQEWCPVQUGUCDGCEGTECFGNCUKPKEKCVKXCUGPECOKPCFCUCQVQTICT
PWGXQU FGTGEJQU FG VGPGPEKC C EQOWPKFCFGU SWG XKXGP FGPVTQ Q
EGTECFGNDQUSWG5KPGODCTIQNCUEQPENWUKQPGUPQUGRTGUGPVCP
UKORNGOGPVGEQOQGUVWFKQUFGECUQPCEKQPCNGUCPVGUDKGPECFC
ECRÈVWNQUGDCUCGPCXGTKIWCEKQPGUSWGRTQXKGPGPFGWPCICOCFG
RCÈUGUCDQTFCPFQVGOCUSWGUQPGNGLGUQDTGGNSWGIKTCNCTGHQTOC
FGNCVGPGPEKCHQTGUVCN.QURTQDNGOCUVTCVCFQUKPENW[GPNQURTQEGUQU
[TGUWNVCFQUFGNCEQPEGUKÎPFGPWGXQUFGTGEJQUNCUHWPEKQPGUFG
NCUQTICPK\CEKQPGUQTICPKUOQUTGIWNCFQTGU[TGINCOGPVCEKQPGU[FG
NQUOGTECFQUNQECNGU[NQUTGUWNVCFQUGURGEÈſEQURCTCNQUOGFKQUFG
XKFCNCUKVWCEKÎPFGNQUDQUSWGU[NCGSWKFCFUQEKCN%CFCECRÈVWNQ
KPENW[GWPCTGXKUKÎPFGNCNKVGTCVWTCSWGHWPFCOGPVCGNCP¶NKUKUFG
NCUKPXGUVKICEKQPGUFGECORQGPGNEQPVGZVQJKUVÎTKEQ[EWNVWTCN
KORNCPVCEKÎPFGEWNVKXQUGPGTIÃVKEQU'NKPHQTOGFKUVKPIWGGPVTGWUQ
(QTGUVUHQTRGQRNGGUWPCP¶NKUKUGTWFKVQ[UWEKPVQFGNCTGHQTOCFGN
VTCFKEKQPCNFGDKQOCUCFGUGEJQU[TGUKFWQUDKQIÃPKEQU[EWNVKXQU
DKQGPGTIÃVKEQU6CODKÃPKPENW[GWPCGXCNWCEKÎPFGO¶UFGXÈCU
DKQGPGTIÃVKECUSWGXCPFGUFGNCGZVTCEEKÎPFGNQUTGEWTUQUJCUVC
NCGPVTGICFGNCGPGTIÈC.QUECRÈVWNQUſPCNGUGZCOKPCPGPFGVCNNG
NCRQNÈVKECGPGTIÃVKECOWPFKCN[TGEQOKGPFCPWPCORNKQCDCPKEQFG
ETKVGTKQUFGUVKPCFQUCNCHQTOWNCEKÎPFGPQTOCUDKQGPGTIÃVKECURCTC
NCRTQFWEEKÎP[GNEQOGTEKQ
2CTC NQU GPECTICFQU FG NCU RQNÈVKECU GUVG NKDTQ EQOKGP\C EQP
WPTGUWOGPFGR¶IKPCU[VGTOKPCEQPEKPEQTGEQOGPFCEKQPGU
FGVCNNCFCUQTKGPVCFCUCNCRTQUGEWEKÎPFGNCUKPXGUVKICEKQPGU[UGKU
TGEQOGPFCEKQPGUUQDTGCEVWCEKQPGUPQTOCVKXCU[TGINCOGPVCTKCU
FGTGEJQHQTGUVCNSWGUGDCUCGPVGUVKOQPKQURTQEGFGPVGUFGVQFQGN
OWPFQ%QOQVCNGUWPTGEWTUQKORQTVCPVGRCTCSWKGPGUUGQEWRCP
FGNCTGHQTOCFGNCRQNÈVKECHQTGUVCNEQORTGPFKFQUNQURNCPKſECFQTGU
[NQURTQHGUKQPCNGU
&QURWDNKECEKQPGUUQDTGVGPGPEKC
(QTGUVUHQTRGQRNGŌEQOOWPKV[TKIJVUCPFHQTGUVVGPWTGTGHQTO#/.CTUQP&$CTT[)4
&CJCN[%,2%QNHGTGFU.QPFTGU4GKPQ7PKFQ'CTVJUECP+5$0
&GUFGNQUIQDKGTPQUFGRCÈUGUGPFGUCTTQNNQJCPVTCPUHGTKFQ
FGTGEJQU FG VGPGPEKC RCTC CN OGPQU OKNNQPGU FG JGEV¶TGCU
FG DQUSWGU C EQOWPKFCFGU SWG XKXGP FGPVTQ Q CNTGFGFQT FG NQU
DQUSWGU'PVTGNCUTC\QPGUSWGGZRNKECPGUVCVGPFGPEKCFGPCVWTCNG\C
CRCTGPVGOGPVG KPVGTPCEKQPCN GUV¶ GN ETGEKGPVG TGEQPQEKOKGPVQ FG
SWGRCTCNCURGTUQPCUSWGVTCFKEKQPCNOGPVGJCPFGRGPFKFQFGNQU
DQUSWGUNCEQPUGTXCEKÎPHQTGUVCNNCUQUVGPKDKNKFCFCODKGPVCN[NC
OGLQTCFGNQUOGFKQUFGXKFCRWGFGPUGTOGVCUEQORNGOGPVCTKCU
2CTVKGPFQ FG NCU EQPENWUKQPGU FG WP GUVWFKQ FG VTGU CÌQU FG
FWTCEKÎP TGCNK\CFQ GP O¶U FG EQOWPKFCFGU GP FKG\ RCÈUGU
UGNGEEKQPCFQUFG#UKCHTKEC[#OÃTKEC.CVKPCGUVGNKDTQUKPVGVK\C
8QDV\OYD9RO
6GPWTG KP 4'&& UVCTVRQKPV QT CHVGTVJQWIJV! . %QVWNC [ , /C[GTU 0CVWTCN
4GUQWTEG+UUWGU0Q.QPFTGU4GKPQ7PKFQ+PUVKVWVQ+PVGTPCEKQPCNFG/GFKQ#ODKGPVG
[&GUCTTQNNQ
++/#&+5$0
%QPHQTOG UG PGIQEKCP NQU PWGXQU OGECPKUOQU FG TGFWEEKÎP FG
GOKUKQPGU FGTKXCFCU FG NC FGHQTGUVCEKÎP [ NC FGITCFCEKÎP FG NQU
DQUSWGU
4'&&GPGN¶ODKVQFGNCUEQPXGTUCEKQPGUKPVGTPCEKQPCNGU
UQDTGGNECODKQENKO¶VKEQGUKPFKURGPUCDNGRTGUVCTOC[QTCVGPEKÎP
CNCVGPGPEKCFGNQUTGEWTUQU.CVGPGPEKCFGNCVKGTTC[NQU¶TDQNGU
ōGN UKUVGOC FG FGTGEJQU TGINCU KPUVKVWEKQPGU [ RTQEGUQU SWG
TGINCOGPVCP UW CEEGUQ [ WUQō KPƀWKT¶ GP NC OGFKFC GP SWG NQU
OGECPKUOQU FG 4'&& [ GUVTCVGIKCU CſPGU TGFWPFGP DKGP GP
DGPGſEKQUQOCTIKPGPCNCUEQOWPKFCFGUHQTGUVCNGU
'UVGDTGXGKPHQTOGTGEWTTGCNCGZRGTKGPEKCFGUKGVGRCÈUGUVTQRKECNGU
OW[HQTGUVCFQU
$TCUKN%COGTÕP)W[CPC+PFQPGUKC/CNCUKC2CRWC
0WGXC)WKPGC[4GRÕDNKEC&GOQET¶VKECFGN%QPIQEQPGNQDLGVQFG
GNCDQTCTWPCVKRQNQIÈCFGNQUTGIÈOGPGUFGVGPGPEKCSWGUGCRNKECPGP
NQUFKUVKPVQURCÈUGU'UVWFKCNQURTQDNGOCUFGVGPGPEKCGPECFCWPQ
FGGNNQU[FCCEQPQEGTNCURTKPEKRCNGUFKſEWNVCFGUSWGGUOGPGUVGT
CDQTFCTCſPFGSWGNC4'&&VGPICGHGEVQUGSWKVCVKXQU[UQUVGPKDNGU
.QUECRÈVWNQUVTCVCPFGNCIQDGTPCP\CNQUFGTGEJQUGPOCVGTKCFG
VKGTTCU [ GOKUKQPGU FG ECTDQPQ NC RTQRKGFCF GUVCVCN NC RTQRKGFCF
.+$415
RTKXCFC [ FGTGEJQU FG WUQ NQU FGTGEJQU EQPUWGVWFKPCTKQU [ NCU
RQDNCEKQPGUKPFÈIGPCUNCRTQRKGFCFEQOWPCN[NCTGFKUVTKDWEKÎPFG
DGPGſEKQU5GHQTOWNCPCNIWPCUTGEQOGPFCEKQPGUIGPGTCNGURCTCNC
CRNKECEKÎPGHGEVKXCFGNCUGUVTCVGIKCU4'&&7PCPGZQRTGUGPVCRGTſNGU
PCEKQPCNGUFGVCNNCFQUGPSWGUGGZRQPGCITCPFGUTCUIQUGNEQPVGZVQ
FGNQURTQDNGOCUTGNCEKQPCFQUEQPNCVGPGPEKCFGVKGTTCU[DQUSWGU
6QFQUQDTGGNEQTEJQ
#NEQTPQECNGU G KPFWUVTKCEQTEJGTCJQ[C[GT[OCÌCPC 5<CRCVQGF$CTEGNQPC
'URCÌC/WUGWFGN5WTQFG2CNCHTWIGNN+5$0
'UVG XQNWOKPQUQ NKDTQ OWNVKNKPI×G EQPVKGPG WPC TGEQNGEEKÎP FG GUVWFKQUFGKPXGUVKICEKÎPRTGUGPVCFQUGPGN%QPITGUQ+PVGTPCEKQPCN
#NEQTPQECNGU (¶DTKECU [ %QOGTEKCPVGU EGNGDTCFQ GP HGDTGTQ FG
GP2CNCHTWIGNN
'URCÌC5WDVKVWNCFCJQ[C[GT[OCÌCPCNC
TGEQNGEEKÎPUGFKXKFGGPFQURCTVGUDQUSWGU[CURGEVQUKPFWUVTKCNGU
GUVWFKQU[GEQPQOÈCGJKUVQTKC
GUVWFKQU'PVTGNQUCWVQTGUUG
EWGPVCPKPXGUVKICFQTGUCECFÃOKEQU[TGRTGUGPVCPVGUFGNCKPFWUVTKC
EQTEJGTC FG 'URCÌC (TCPEKC +VCNKC 2QTVWICN [ 6ÕPG\ .QU VGOCU
KPENW[GPNCUKNXKEWNVWTCNQUOQFGNQUFGETGEKOKGPVQRTQFWEVKXQNCU
RNCICU[GPHGTOGFCFGUNCUVÃEPKECUFGRTQRCICEKÎPNCEQUGEJC
GNEQPVTQNFGECNKFCFNCIGUVKÎPFGNHWGIQNCHCDTKECEKÎPGNCP¶NKUKU
GEQPÎOKEQNCCITQUKNXKEWNVWTCNCUPQTOCUKPFWUVTKCNGU[NQUCURGEVQU
FGNCJKUVQTKCFGNFGUCTTQNNQKPFWUVTKCN[GNEQOGTEKQKPVGTPCEKQPCNGP
RCÈUGUOGFKVGTT¶PGQUUGNGEVQURTQFWEVQTGUFGEQTEJQ
.QU GUVWFKQU UG RWDNKECP GP ECVCN¶P GURCÌQN HTCPEÃU KPINÃU
KVCNKCPQQRQTVWIWÃURGTQECFCWPQKPENW[GWPTGUWOGPGPKPINÃU
'UVCCVTCEVKXCRWDNKECEKÎPEQORTGPFGKNWUVTCEKQPGUGPEQNQT[VKGPG
WPGZENWUKXQGPEWCFGTPCFQEQPEWDKGTVCNCOKPCFCGPEQTEJQ5GT¶
FG KPVGTÃU VCPVQ RCTC NQU GURGEKCNKUVCU GP EQTEJQ SWG VTCDCLCP GP
GNECORQFGNCKPXGUVKICEKÎP[NCKPFWUVTKCEQOQRCTCNCURGTUQPCU
EW[QKPVGTÃUGUO¶UDKGPFGVKRQJKUVÎTKEQ
8QDV\OYD9RO