~" ' "'~.:: j"'f3-(" ::'~~;;):!pi~:~~f;~ ~":}~~::;}!:;~i~:~~ ;~;I!i;~r~'Ji{f::/',': .. ",' ,., . , "" ,.,' ,.' .. j' -: .,' ~' I.' ' .•. ' . "~' .. ,'., ': .. "'··lDa"$ "b'" "S' t-e'57 t ,'" "

~"~~:/'~;;{~~~~~A~~~~"~tJ ),.';,,~'::;'·· .. f~.,.:., .. ~;: .... ,~ ."'.', )./'~". "I"~'~\ ""->";~-'., .• ,. '" , ... ,.~ .. "", ""~.f" •••.. ~ .... r"' i

I ;, ,: , •. ,,'; , ..~:/:)~., ',': ,", : '. "t,', ,'~' ~irdllie~ 7·' ,iVieQ~;\,?:.' -;' ':';,';,~,;;.~;;~" " -~:,; ·,i;;i:{;,) l·~",·.:,.'" ··'l:!.:···~' ''c. '·,.r". '·'In.:,the.Comm"lttee 'diScMSlons o~ :N.ovembex-:3D, .Mf~'·;R~dKl~ld:: ... .',' ;.;<: ;i:;};:',,:~"

f' ":J~Jgqeste,dan eXamlnation,Of, t,hepr~blemsloff~,eedo~\Il ~!b~rican.!, i('"::,, .. '.,. i'·1 : • ' .: ,,'-.. ;:~9c.iety .as' tbey we:rese~il by Jam es Madison ml1l.~· then' .:the introduction'::' :'. "., " .;

i ""·:'::Ortbe.~uaUf1catiCms and deV~lQpm entS Whl~lllirete~~~~ih"l~~t ',::i!:, " ~ . .' :,J " .. :~:-- ~ .:,-,.' . ' , '. '. '. , .'. '. '.-: ~." .. '. ': ~~. ' .. t.· .. ·· .• ' .• : •. :'·-:.:-.::.;~,:._~;' .. : .. '~:'1 .. ~~ .... :.,.«.~:.; .. :.j

" ·.:Qf~:~presenfcond1tions~, s tnee Mmdison Os 'centratfoc~·w~.'p6~'4C$~f)·'jt·, ; ,; :~',.:' . .",':::;~::"".~:~ ~. : .. "" . ~':" .... • . " •. ~' .. " . ' .. ~.' .... '~.: .. ' .... !. ' ..... ::: .. ,.~;~,: ... ' ••. .,.'; ..... ;:,'- ....

;' ./, .. ':" ,.s·e,ems :to'me'ltwolAld be wo:rtb: su,pplemenUllgsu.cb,S\name.'lisb;,,'i'!{th o~~,:·'. :,,' ".::' , <> f:; ,': .' . ' .. ',.: '.', . ,,' '. , ,,", '.' ' ... '~ ':,' ..... ';.<>, .. :.::,.::.~: .. '>~" ", :.",:': .... :: t·: '.; on'ib'e;;ieVJs ;o~lVIiBiQl$o~'s' cOilt'emwru-y ;:":Ada~ S~'i~h;( ,vJh~e.~e,"Si ,.ar.,: '>::.' .'

-· . .'·.·f ... ··~·· ····.r. ~'.' ::. '., ". , .... ." .. ' ,.' .' ,:" :·"'L:'.-··':··~''''::,:':.~:',,:\:,-'·r··I· .. :l''''··':''

:"' .. ",-', t,.:<~~,~~~~'cm:Ul.e. e.~OXho.~l~ ;a~d' so~~ge~)' .~9~~1~~·~nt t~~S~:·~~f..~~dis~~~~> ,,"'.: .

[,'i, •• i .... · ...••. ~.~;::~j~y. ~~lY$~:~}~~~p~~.~~re::>';:;.(r,:·j"'.:;.'-,,~:','}.:' .... '. . ; :..... :, ..... :~ :.: , ~,~:' ';.Beto,re:lDatrt~lIrt~l$,·~M.,lYSi$,~:, two. th.1ng$,.sllo~ld·b~,)l~te.c:U:~,~:~'. ':" . r ;. '.~:~ ->;: .... ~<'.-.~:.' ':. l' "~~:Jc~',,>" ','.:~. ~~'.~". :.,;:;~·.:··.~: • .'~;·.·::·~,.'.:·:,;.:·t·/~/;:~:"~r' ·~:··":~>:;.;"~·_·I.:·:~':r<~~~:.:,/~/;.,~.~~':~ .. '''':,.-·fr"!:'·L~.>· ',-:~.:.;.'-.:' ~ : ~,,<. Ii: .': . ~ ',·'~··:'Ftrst,·:~e ·'ter;ms::.·"iJt~~dQtD·n~·~nd:~~juSdh~"~/b~ic,~q·'p'~tl~~i~rly:to'th~ ;,:: .' ,', '.' f ; , .::::: .. ;. " ,:,,' .,"::: ,:~:,. '.~' ~.' :.: '.: .: , .. ' ::': . .': ';:' ,.:.,:',:';: ';:''>::-:~'~:~i:; :<'.':; .. :.: . ',:~/ ::'~ , "\;: '~",~\/,:'" :';-.,: .',' .... '".':': ":,:", . I. ,.":"< .. a.rsenal ofpoliUcaLalllal18is~r .. ana.S·tiilt~O~ 80-,1,$1$: do.DO~~~p~f~· :.: .,' I .. , .. ,':" ':,:' :;':. .:»" :;'," ,:"" '.-.;':, :\,,-,:;~::'/".:' >,<.:/,}>,' .:',,;:: 5,. ::~ ·:.·i~.,~" :'\~>~,.~<'~,":,:.:.' .. ;::": <"::r· ... :·t

:,; .. ~" ,.'., .. ;.,. .• -m8rUy in these :teruul:,even. though'he !a..:dQtnlDantly"cQ~cetDe~;twltltwhat ': .::'.:-,' < •• ' ••• "':.".>, " ."1 '" < ':',: .. / ;.':" , .. l >'.:-;',\:;,.-:::::;,: ,~. <.,,':",:.: :.,\',:<:', .. >::,:'''': ' .. ';. ':", .:'·th&y imply,. 8eco~tt.:i.her,e :lQ~r··Wtten.; :bave'fQUlIld;andc~rr~eted .. ~mmC)~··"

;'; . '~eakness~~ In'Smith~'S'aD~~~,~:tt,'~ ·tb~ pe,;f~iet1'~.:~~t~,~i~bi~),~in~:o" ' . • ,. • '''" ... '. '~,' ." .~.' ••• : 1 ':t ... : .. :)' .... " ~~_. '.'.':'~' ;\),~', .... "',' 'be eonsldered.SmlthQ~ stnce'we;are:here' conceme.d W~~h·Atb~ grand deii9Im' , ....

• '" .. t •. ""';' . : ~. ,,' I •• : ~~: •• ':" '. ~ ' •• ~. .' .\ ,~~

. ani not the detail. For both 'of'tbe$e'r~aso.,~ Sini,thos.'e~~t R~~~~·~ '.. ,') , ,

., .. '

." , '. ' . , .' .:' '. ",' ~ ', .. " - '. . '. '. '. ~ "

tre often leSB rdeva.'1t to the ~~lYSis tbari the,co~teri~.tke,~~:now. ~ee~'::,:.' " , :, I .' c· • l ,'. "

01<-,' • "' ...... ' ~,.'

~ , ,. " , (l. ~ •• ,_

l~d~t1 Slllith lived, in a p~riod in Whieb ~Udf($O'triet10~WO~~'

breakiwl dOWD' OH still mU'Viv~::j; i~ which the commtwal mBnor~, fttl~~S':~\

.",,'.

.: -' ".~"

,. ···.d·: • '.or'" t ::,".

;':',."., ;':.. I' ,

~ '. . '. ' .. 1-: .

!., .. '" t,'

.. ','

. " ·"'1.',: :.~:;;~":'.', -"';-{("\::i:i:r;r~?~;:~;i~~~~r~t~~~Y~4:~E1t:;,;; Adam "Sm'urnus ·JFre~!'dom·~&nd-'J.tis~~Ei >,;~·.';,.c" ':", :;:,,;j", ,'~,"~","::'

; ... "

in· which' qovern~~t~c~~~":a¥,:r:~~~:~f~~f~~~~ 'w~r~ o~rmtm0o !ID.Xlldi in which tbere were many other 're$lrlcttons :00' _ .~: .. :' '''<;~:':

. . . '" ' .. ' .

. flfelSdom of ·enterprise:. . , .

:'!Donopolies and manors" the gTsst bulk: of producUon w~ c&X'ried on. by

indIvidual prodlAcell"s with an apprentice oX' two Oi? $tmost a 1ij'e1.C'l7 few

workers.

m()~opoly grants by the state»

have m1tde witt;, :aU-tets " , .

0',.

".

, ,

r .

.,':',: ,>. . . . . . , .' . . ' .. ' .' ....• .,'. C i,,;:"'. ,:~;.~}": .. " ';" : :',' '. '.... ''Ibsx-a wereD of coUX"se, otb¢i' i'e$tX"lctlQM.'cm .tt~dom"~~k· .:' . ':";" ..... :' .. .

. , : .' •. ' '~mlth pi.esummblY accepted but wbich we Cllil h0re~lr~cI.' ,>.' ...... '.' ..... .

. ', '.:':'. "','.>. . .... ".' .... 'The mmjoi' Kx-eedloms which 'SmUll ·~alAriledt·~to~ ~e8t&-~t~6\'" .. ' ..

r>"i~bls mOclel were:. . '. . • . •. . • ..

L<":"'," :.,'.' 1) the fzreedom of Sin 1ndlv!daAml topiro~e whllltevi!X' ~e'w!Sfilec2\ foi-·~mle:",·.·.:·.-·: ,

., .' '., ..... ·In tire market (no g'OVenll'll ont-grmntedmO!iOpOlies Md ilo9llilcf',:·,:>

: . •... . . restrictions) . . . . '.,' : 'en,:>.",::;,}, !

'. ,. ,':. ': .. 2)·· Mle freedlom of ~m(M:riditIAtd' to Slen whatever. he hl.d·ba.-tbeDi~ket .:.::;1":'.,:. '.' '. c'

.. ,,' .. ':'" .:.; '." :,.:.: . . ....' ... ' .': '.. ~:,< I.· •• :~·:::·. ;:,"'.~:.:'.'):' ':'.:(,:':. . .

. ::'.:' : '.' . 'for .wh~t~erptlcehe ¢ourd:cJe~(no just-pric~:'r~ti'JeijqM)~"'" -:.>~: "'. '::: . . : .... ,'.> ..... :.:: .. "' .. '. '~':'" "; > : ... : ;, ... :,' .,:, .: ~,;,., .. :.,: '," .. ::.>;.::.: .. :>,::'; .... ':.':"/: .. J .. ;.~ :',.' . "::,,' .' . ,,; .. ·.8),·:tbe.freedonfof thelnd!vl_l ~~9.but·wllatever.,b~ ,want~~,iD t~"markett,

l .•.•....• ,,:' •• ,·.··.t~,'~l~~ prlC~ ;~~e:C;UI~'~~i( :.;, .. ~,~:.,':~'::).::\;, .. ,.:'}::::'.,\ .,' :; ' .... ~" '.: :. ,'4) ,the'freedOm :o~, the:'lndiVldU81 :to.w;,e;or:,ecmewri'e ,wh8tever:~bS'owned

r~~i~ ~ ••. ".:' '." :-:','~'" \:,:: ·c~~·,f~r.·w~fe\P~r.he·.<;Oult(g't,'8.ld'.tb~;,:~otr~pOnd~g.free~'~f".:· .

. , ,"',: .: ' " ',,:. .;:" "'. '.' f ::,' .', ,:;.' ',.: .;:' '.'~ > ' .. :::- ." ,':' <:", ::«:\;' ':';"'.: ".: t ;: ~/ ••• : ' ;.::. <~: ;.,; .,. " .. ', '.: ,'. ". ".' . " tile. individUal to':hlre \vhomever be :eoWd.,tOr.· wli.tater lb.· latter ~ : ' . .' .. c,' .

; '. .' .; . .: .,'.' . .' ",. '.- ':' .... :' " ':'~<'::'.;~' :'<.'~:' : ,-;:.':,":.< : <' '," ><:'" < .... ' .... : ',:~ .:' '.' :<:.; ,:', ,~e''-.' , , . ,was wll11Dcr to tall~ , ,. .'. : . . ."< < ,',. .' .' .;. :', 'r .,' .' "t';;" . . , '.

8) the A'eedomGf the 1ndi~d..aitOI~~bi>r,O.'irO~,~~~ ~<. ,..'..... .', I . " ! "', '" .. '< ' ~ • .- • "',. , '> • '", ," ~, ".

whatever termn coald be agreed 00./' " .' ", "

Tlrl.1S, wlth1u the limits set OD force, PJ"Qperty, contract ~~ 'r . t;'7Q~Ji';: '. ' .

mOlley, eael. :\ndllridual1n. th\!; economy wotdd be tree to pro-dace, buy. f . ,

sell. &ll.d COJlSllrtJe as be pleased ..

S mlth expected this ec:onomy not o1'lly to provide great freedom

~. tbe Individual but alao a hlqh degree of Justice. If each indivtdual 'OU9bt

. .~. :' zij'Q1b:ocettoX'ces wo\!ld: . '. ~. . " -, "

:. I. , •. ". '. ",

,"" <.: .. '1) .piing abomt the employmerat of ea~h !ndimd\!al'ln'Ua~ mast.'proo '··

. , ,,:'

, '. -, ~. . "

. . .

'. cil.uctiwe mrumer possible in the light of h!sabUUymnd his free'

en.olee of Slctiv1ty I;':·,·: , .' [ .... , ,

I, . 2) li'esw~ in the mammum PlrOolucU.on ~ndl conswnpHon possible'. in 'the:,

Ugbt of the Sl1YsUable resowreest) tschn!cm! tmowleo1gep alilid. P,8op1es..v·::. '::"" .I '. '. . . "

wmots (mclUloUnq the des~e foIE' leisure allld the desir'e for' one ldnti. ::.:; »:',': '.' . . . .' , . . . ".' ..,',' '- . . . : . '. ' .' \ ... ~

. of work rQth~Il" than 8\ootber) .. '. .... ':'. ".::.;''';'-'''! • " " . . . \ - r' \ '. ',:. • •. :'" ~", '.".: '; \'..,: .-

.' 3) re~U'dl each mdlividua~ Slc.corollilq to his contrl~lAtion to PJr~d~~on;'":: .. :' .' • >, • '. • • ...~ 1 •

. ',' ~ '. \'. .' ; '. :, "

. ~ " Within tbe.ru?em.ofacUvity wit~.w.h~c.b.,Smlth; wQ.·concern~~·1i e~~ . ", .. ',' " • .... .' ...., .. ',., :. , . '-" ',' . • ' .•. , .. : " . ,; ,. '"". • ."' l1" .:' '. ' •. , ,' .•. ' :~. : ~... ' .. " '

tb~ :activUy of-.Min; re$o~ces .to saUs~y ~~D~D :ihs c-ondttJ~~,·~t·~: .' '. , ....• ::' ••• ~.:.: .',~ ..• J ...• ' ..... , < .... :.. ... .' .. -::.,~.,:;::,~.!.,/.~:>, ..... :.~._\ ' .. ,"

i " .

, . . .~·~~l.?1qill~ FO~U1C',I1D. 9PUm~?f~~~e~om: ·~Dcl;~~t.l~~:·a~,c~~~g:~;,.· , .

i ••. ·.· .•• ·/:·· .. : .. ,~O~~ •• ~.~Fi~~~~~d~~~9~~,.·r~~; .• ~~trS~~·f·~~~dJ~lD •.. : .•. ';'- , .: " ;' '.~:·mcM.l were ·~ign'd.,tO·l~c~._~gre_aUy ~be·'vallle:toJ~EL~f!i.v1d~1.', :

~ '. '.~' .' _ >-,,,' '" ". '.;' '.' " .' '~ .. ':. :,' ::;".;";,.>;~>,':' ::'/.:~~.':':::;'. :i:::':;.:~::,;",::-:",,:: ....... ' :: ',;: "/', '.'" ',.' .:':; ' .. ' '. " .:::' ';!·:of· ~~ ~~~ectom~be ·fetaim"d.~nqw~~,~;;Pt~:illDed not.'to!,l!j~91y~.~UStl~e '. ... .. .. :' .' ". .'" . :;:' ..... -;." .' '>:, ::' \':., :": :.·',:: .. ~-~<.l':'·':':;' :,l~,' __ ':.:'-- .:"» :.', ~::" ~ :"., \ .': <.: ." ~... .' .• ,.', '," ,-(as5lnmlng just eQforc,m~t)~l,4ls<>~ tbe're;w~d'bf.:eacb·iildJvidQal.~~.,:',.: .. :1. ' .. ' . ".: . ".,., ,,'.>.:' ':~"'~'.~,."".' .. ;l·:o;·:.:":'·>'.'.~.··: .. ··:,,~·:-"'.;'" ',.:'~:.' ';'.- .a~eordktg "~ ,bb .eoD~rib~littoo. to-'pro4ucUou' ~eem~d 19 '~~~ ·8m.th· a·just: ':'.'

,.' .• ~ :,~,,: • ' ... '., '., : •••• \!.~, ... :,,,'~ ,',;. :' .' .•.• , ... ::' .... J •.. ~:' "':' ' ..... _:: ... ~ .... .' .:,~,.' •• .-.~ •• v::~, -',,~.' - ... ,

, reswt even tho~lgll qa\te.adut~r$Dt~easUie 'of jUStic:9 W'l~S em'p~Qye,d ' ". ':." .',~ , '

wltblD th.e indlv1daal familY"811~ in s~m~ degre:~wtt~':~e::m'M~~> .',' '" -,.' , "

'l1tere are fwo~Junqn abou~ Smltbes model tbat'Sbould ba r'ecOgniZ'le~

FIrst, it'ls SIr,' t.tCT.,,~\:r~~ mottel. As ProCessor SeUgau~n so well said. A~:)'

ftnlth was pre .. rndusL~ai Revolution. It is true tbat Smitb analyzes the

divlslon or labor In terms of a 1it\.lt~ pin factory. Dut this 1St in a sense, an

." .•.. 'e ,-".", .' .',' ";' .•••. i,,; ",.\,.,' .' ••... ,; :f~c',i~,':)T}0'~,;;~F,;,';(,jl~f:f~;~:,',::,~:,;::_,:' ;\ " Aomm Sm1:th~$;)llX'~~~,:tmd':JlWUefr~:'~', . ::,' .. :<:'.~ ,..~.:: .. ; .. I . ~.: .,. , ... ,.,' " , .' " ". ,;.:.,'::':. '. <:' <.<. ;:'~',:":::.::, '>, ': "< :.<,\:\f ::q

. ,;- •.. 'liu81!iess enterprlBeexcept uno1er. '!YeJryS~iEirC~dmO!iS, .•. '. ~~G~: '.,,' ",,' ; " i'·,. "C17:~fis~fuleoreUcQ! modalis· one of{.~noUv!~!··px-odlU!c~i'Stmd1·c~umeri:'·,~ ",' , .. ~ .' '. " . '

.. · -:.'. . . ': . ~

· .'.:' " . . .. ·.Cl·(iC$s no~ mtIeodlmce the spectml ~2ct.cn ~aoelBitecil with ~s ~tcuw .emcn ,to ~, " ',' • ",' • . \;,,'i, ,"." ' ... the COlI'pOli'iJt!Oil.

Tbeo~ejf. ~bmg to be i'loaed fus thlltX1teUb.~~Smiab·ii\Oll" Tj)hdlollwe~ .... . ... , " "

, . . . ,," I •• j .

. ":.:.. .'," ·.thougb~ tUt: rte&ll Ufe':would e~cU:v, mfurror tbe·condlitioM :OfthlSlr:.m~l">· .:'. :,., . .. . . . . , '.,' . ~ . .... . ",

. '.' b~t only that in pracUc~ thwgswomldl wo!"r.t otilt ff~iE11 'muM~b u;t1f1a,·thlSiCrj·; .. :,,::':::.~··i;·<.· .. -;: '. . . .' .. : .; '., '. '." ': :":"~:. '~. '/;", .. :.',' . . ~ tbrsii" 'tOodlel prsscll"ibedo On this bum they regar~Ol tbe~'~eol7 _~a' " '.' . "' ....... ",'

,'" ". '.

. , ... practical·gu!de to' poUe; bitb@&lchlemng' of freedtOt;!D ';&w! ·j~·&~e'~!,:.': '~f~,t ~.' • .. ' '.' ...• , .- that P!I11ect freedQtIIIlDC!'j\lStiCd!were,l!9~' ~h1eIve~~;tbe~~~ .,;,m.lil ; .' ..... ; ... ' . - '~ -,.,:~.' . :", .. :' . "~. '. .... .,... . ..... ',;' .. ,'. '., . -"::':':'>~.;~'.," '~"~'~~"-;' . .'.~.~.- ... , ~,,'", ~ .' .. : .. ' .. ':' 'onl1.meMtthat.ef1l~:·sJno,wd,gO·~w~~·';na~q~:·C;~.#~UCM;,:~·cre.Uuiji . :' ,: ~ <<'~. -~'. '.: ,:;' .. .' .:.':' .... '. :: ': " . j .<.-: : :.: .; :<",::.::, ':'; '.:: :'.;".: :"':,- ::: :,::~ ... : .... : ;-;:·· .. ;i::·,· ..... < :',::,:,~~, ":.:j.~' .. , '. . .:..:.'. ~"- .. -,t¥Sa '.of·~h~.ffie,~r~tic~~::ln.~~~· 'Slnceo' .1fJflll~~·::·~~X)41~OM··~~~f3pert~tl¥ ... " ~.~ .. :. .,"~: ",'. ·i··.·:t~~.:~'. ~~,: .. ~-..... ~ :.: .... ;;.~' . L~ ·".,i:~.';.~':",,<::'::··'~'::.' 4: r".:,.<:~··:.~:'.',.·,>-.,"~·:.",~ ... \:<:;·.::>:,·~~>~-.~:''''"~:'''~'.:~:'.~."'~": .... :.~.", . I. ': .. ':: .- .' . -,,: .: :,:·.Jne,lp· p.erf~tJr.eeci()m":·~~··j~U~e ,wdtjid ,·~e: .. acbteV~d.,:~ ·~~J~t'.:to. ;th8 S~Ulc . ~ "./.: ' '. :~:' '; ':'," ,:~' ,'. . . :.'.,,"~: .::: .'.,:!"., ' .'~ ~:~.' ::"<':. ',/':.: ."; >'< ~'; .\ .. ::,;,-::':-~:::'J:~" .'.,::,~ ~>;<'.L :.; :,."':." . . ' ,.':, .:· .. <.U~t.~tlloJis blf~e~~ti!p~.~$~,r,i~4~'f~.t~~·~1l\I~r.~~dtO.;~e:.~.t~~.~f:contri ..... .,., '-: '.:< .' ',;. . ;:', >\ '~:' ... ': ,'. :'," "';:,~ >:: "~ ,); ':.~ '~". "'><\' . ~,<>:, ~~ . :"';' <': :-,:.::-~~.::.~~>,-.:.~ . :' ' butlon~reWar4.·· :TbI.ll'~e.~ence·betw~eu'·t~,: pi;'a¢UCa1.~",;i;.d~r~a~. " . . .: ~~-;:,~. ,,:.: .' ".' :.-:: .. ',,:;.-- ~:~~ : .:.:';:' :: .... :.; .::,:: .. '/ .... ,: .. ,:' .~. ':;".,,'; -'."'" >- ,';,.. ... ;'.,' .. bee.aP~· alul·jUijt1ce:.4·thetlieoreijcal1t·p'erf~t treed.o~~d.'jtSUc~:ts.: .".... . '.

': .'

. ," .

. . . :" ".' • • • ,.~, .. , " ~': ','1" .. ",' ,,'1-'."::" .. '~~ .. ~';~,' '.:' ':. ,' .. ~" .'."~" .;~/ ;. ',~ ~ ~'1; .. r .~ ...... ~,", ','". ,:., ":,1'"' ~ •.• ,' .~' t ,-. .

lmpor~t ~avse ~:whQt tollo.8.1 s~al1 be c~nQ~rnec"wi~ the ~e~reu:cJ1U,' " :.-. . - : ~ . . . , . , . ..,

perfect" ~ct with the app~~dtiiat1Qn'irl pra*,tlee.-'· '" '. -':". ;.:., : ... : ': ., . ; .. : . . , Wnether'A<D'(rJ' Smllhd's act1181 ~lthtg:'(1'178) wasi~~u1u~acd"" . '. , .

,

accepted by the FO'l.U;dtng Fathers, I have not dJscovered~ B9.t it is clear . that the cUmate of opinion of whtch it was a crystaUzatJotl was very !.lHICh

a part of thebac:lcqround ot the framers of the ConsUtuUon and. that his

actQlll Writing did lnflllenee thinklDq and policies 800b after Its adoption.

. ";, ... , ..... '.""" . : •.• ···.:;ifu:;sil~;#.F.;~~~::;:f:~~~§llt~;t!':~~~~'};';:ij " ~ j' . ", ' .. ~ .. '. . • . :.' •. " .

• • '. I ',.

.... :,' ,". ,::' .' .- ·SO~t2.ch go~~b.e ma!xa·.a\!bs.~~lIlcQ) ol Adam Smltdilos':'f~ee~in'~c\' " •... "!,;'.:~ . . .! '. .' - : - . .'.' • . .,', ," ~ ~-.. ' . '. . . , . " ' ...

. ':::j.,"c~o .if;wefoHow out.Mro Redlf!eldge 8~gestiolll\I)'we must~kp·'.GiIw.Ma .

. ~ .$re.' t1!h@quaUilcmUows which ~a xoeqWlreo1 m ~be Ugla~ o1ip~sraXAt"'cll!l1 . ,.

I ... i' .:' j' • conc:iUioDS 1· "

~. ' ..

. , ',. . :: .. .. ,.". . importmilt sin~!~ Ol@~elppmen~ smce h!s d$y 1is' t1!l(S cbMqe 1!!YroUl9ftA~· by .

" , . To answer this would be n large order EJiuce, it corporate enterprise is

aubstituted for indivldualO

entel"pr!se in Smith·s analYfls .. and sole reUanee

.. plaeed on self-Interest and the unseen hand of martet forces, alm~t

~ . ., ..

. "

,,", .', '-.

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. -,~' '" . J~ ; ,;" ... , " .,' - l' i.>,~ ,'( • ... .• ~. ':', '" •. ,~' ac!l1wea even inth$O~i, ,In II cOrpl)l'aaelli:~y,' it 8e,!Sm$-Cl~

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r:' "", ~.;," .. r·:.'. ,,{ '.\.

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>." ... .' '. '.' .. , ,'. ':'::.' , ...... " "',"'."'.- ... : .~., :-'.," .::.'~'; :''-''..r :'." ... ,. ,. '" ."; " .'.

~t, ~ with effootlve al'lu~tioUiit8!if()rcem~td~!1leoial~~c)f.B$u,,: ' ... ;: " .. , .; ... :" ".':~.. ..', . .' ..', .:.' '" ... : ........... ,.. . : ... .-' .. <:..... ....... .' , .. ;" ", ' .... .1

'~terillit aad D!&rketf()l:'ces would riot by Itself~oii$ b:e$~lC1$nt to~ ,

, ~ .. .,' 1 .•

":j 'J:,'

. '.'

'abclilt:tbe mostprodWiuve I!mploymeat ofl!!lCh '~~~bllIU~~, " ~e ~axiiQtmI . .' ..... . . . .' .' , .. ,

. '..... ., .: ... ' . " ',. .'" ' .,.. ..'. ptOd00t1ollaaCil cODSumpti 9l1 consistent 1I11thresolll'ces, or@ie re~il!li1'o:: .• ',,' :.' < ".,:-- ,'. . , !., '.,' .:-'. . ... :., ': '::. "-.: .. , ..... :.~ .. ;:-: .. ,'.: .. ' ... > .. ,., .:~,;,',::.~

" eacb',J.riciividual SlCCO.rcUn9J to 'his con~ributicn to pro#.c~6n~ " '~et ~ coD.~ .:.: )., ":>«"~'" " ':." " , ' ",. ", " ., .' " ','~,', !;:;;F'.~;(,{fZ;;~\;}'.~;'

.sld,eJ" these m tl.llrDo .... ,. ... ... '.'.,'r;"' ..• ,', ... " .. .. \ .'.{ '.,.'~ .. ',,,, ,I.:~. 7

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. . ..• ', ..... '~" ~ ': . "',;1 •. ", • ,1.',:, .. ' .. " •.. ', .. :::;. ... ,,'

(~~ .. ,; ...... ~~; .• _....... '""',"l',:."' .. ,1 •• '':' :<.~.,

": .,.\ .....•• ':;.;> :r>. .;;'~i,~e~OiinlU1d· Justlcelll EJriR16~~nt·;.; ;~'$el~~\t~~~ ~' :~ ' .. ":~)'~~.~.?:. 1,1:' ",' " .~. '. : . • . '. ...., . ••••. ~ '. ~:',.- :<: ,:,::,~f~~ :.~Olr.,'ii· .CQ1r~2r~e~odel oper.atln'g'perfeCUy.,OnthEf ·basis· 6~' seJ1~inter~st "'. '. . i- .•. , .. '.1. ,",,' • ~.' '} • ' . ,

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• ...... '." ~:,.'.' ..... '. ;' • .' t . !.... ..'.

..' . , • . ~:'.,',:,<;: ,;~~lt~tf~rces ~owtd .not brln9aloo~t·the 'emplpyment'of'each lndiV1dual"lnthra' "",' t,' • • , '.'

."

. 1"',"':,",/'" ":~ost~ooucu'V'e ~armer,o"RatherD ~·think it can be shbwnln"tlieo'fj 'arid ~~: " I'·: " ;:. '.' " .':, .:,' . .' , •. ,. ' . " ";: : .' I:, ',~' :', ···pe~ect ope.X'atiolIl~Cl~ per.l~dls of underemployment would·fiomtbne·'.io;',ttme·: ; .. ', ", .' I.... - ~ '., •

• .•

.' , .' .• ;..... • f>'<',~<;' /r.~~~~e· fJreeddm ~f ~ome 1ndiV1duats to work andl~?eaie 1iljUSU~eb1':~e~,:~:"~'~ :-:";':""""~ : .. , .. ,', .'::,::, . ,

. '. ,:.' :>:", :;:.:}Y::':;;;·{\-.:,: , ,>.': .,··,.·)0lf~~(t~ho ·is not· allowed ·to worko' In :stich a pure .c6tpolia~' ,nio~ell1"("?: ,':',>fy;':. :' " >..' :~ .. , .", '. .. .. '. . " '.,.' ..' ' .' '.." .. '.',: ':,~, ",:?;::><.; ":~"-', . ;.,' .. ," '''"I~:theo,ljY.win 'show ;tha.;t,·full ~mployment would be la.rgeAy:~'m~tte.)f.':.;.:,;" '< ,',' . ~. ',: .r " •• : .• '.;, ':....

; .' ._ :'~'.; _ •• ~.' }_"'~""~.~"'~ .' \" ~ :'

~, ';." '. I.. • •• ' :' '. '-, I • ", • . • • • ~ • ',. .'. . .' • .'. • . .~_ i . • .. _ . • • .-.... • • c

~<., . '.: ','~,<$l.Uce .wi~ eX~ess!"~;unemploYm.ent ~OlrelU!~~.,U1an;~'~ijlpl~~enL. ;0.',::' . '" ,',' .,: .. t": ':.-. - '.' .. ,:-< '-. " .'. .. ': ' . :1' :', ',' :. ,"'. ,,' ,'.':1 •. ,'-:.~:.::,;~. 7' . ;:-: ,,:': . ".' \ .ID'·:Pf~i.lce.D~·~s' ,have. ·b6erifoi~ed1tl1·~?Jrcumst~e. ;tto' 9i've-~.90v~nznen~~(-;.>:~ ,:':-: \>.' ::,.:,:' ':',':,''"':',' <':',: '!,',> ::. " ":.':,'.'.::: ":'.' ",':,:,.~. ;.:.:.,<~:;",,,:~': .. :~:;{:';'::';~'~.:~-,:,:' . ~, " ;,. ···fath.X'tilan: tb$ . Unseen ';hand' 'We jresw.~lpiU~J·-~o~{'m~!t.a~~~~q"f@ ::'2;: ·/·,l~,:·. ',::', :!, . ~ .• '<'.:"~' ,,: , .. "'~. ,:"},:::",":i"'" -<:'. :>" >~ .:,:"'~: .'.' ',:;' . '.': ;'.': '., :~,'",,' . :',:., ,".' '.:', ..,:' .. , '}',:,'./:;.: ':';:: :"':,:>-: <,' ',;.'''.(:. ,<'5:;:,';;:"":<;;\~ ": t,:,:'-:,: .' .< ,:'~Pl~~~,~d, ~v~, p'i"~v.i~~~t!nj?im,p~Qjmen~;:'~~,ig~9~i,-~:~X~i!s ,Pt:~~Ce:<,.' '. f' ,: :.-: :, ,: ,:'." :,-,', .',', ",.,:"" ~', '.';l ':.}:~ .: 'c";;' "-.... .'; ,>',.:' ,~ -:":.:, <,'«, ,;'". /> .. / " :.::;' ::: ,:' ':' ./ ',~ ::, -: : ", ':C'\ .. ~ :,~,,;..i' ,'.; ',; .. ' k ' : ',' . ',1s jA,<n'& -in Un~ 'With '~~ ~~~Qrt. :oi 'a corPo~at~··;m~er~'· VJ~ijl',~at}'~r aia '. _ ~, , " \. ",' ;",:.: :: ,":.', -. " .:: :: ';',<, :",~'; 'c : . :,',',':;,., ;' ',:,~:::. ·;,\'.:"C:,~ (. :", :'.~~ ~· .. r';'!;' .. ~': . : ,;:< :.;.«,,)-.';:,~:' X~;~:.- '.<:.', " ... ;, .. :<::,:~.. ", .:, {:,' :'.',' ,; .j,·~:~e')~od$l~".~()\lCil~ ~e.,~e~'::P.t~~q~~';~~;p¥U.~.:~Q,~~f'S;"r~~~io.h"~~' .::'.,,:. t. , .. ',','

. ;, ~:' -. ;' '.-" /." ;", ' ' .r;:, , ,:,"',<: .. ,:i':' .',:' ;J':,i::" ',,:,~~,: ,;;~;:",;~,:: ':, . .':;':';:,.:,: ';"('::>' <:-~>~" .':,'>::: ,,~:., .. ,. :':'?::-'.' ,; .. : '.', , ;"< :.pr~ati(f¢Olitl1tiGn='t.Jui#,tQ:re:~¢l'tl}~oW~·>·;;~:r~~~~J;~seer.~9Z~::;,;.'" "; "., >,.'. . . .:... , • 0" . ,:;" >. ":._ " :.. . ': ",:;. ,"". ':-., .~ . ',:" ','~': . !.'~, "'. ::,~~:':' ,:1;: •. ~o ,"",., ~_~~' ',., •••• : :;'<:," :>," ~"::' . ",' ",:" " : , . of1.t~or, M1~U aJmost, complaeenUY predlcted::~ cO$~daJfa.bl~ .~e~~ase !J!':."" - ,:~:,~ ',' ':," ',',,'.:' '.,~"',' , . ~'.::';';;' :.}:' .'" .:',~:.'.:"':~'.::':,~~~" <~':i,):;""';~';";"',:""~:,',~:;':'~',:-: .-:,., ..... ' , (~. ':. ' .. '~empl~~ent ~is winter ~d ~PflDgt.ho"~:·!i~·,:sa~~o~$~~t~.~ot·~~l1e~~J~~.:,:.>· '::':"" , _'_ . _ . . ,,;'.'.'~:l ";' ";"~".:'''':. ~>"';'.4:~' .. :~,;. __ .. ::.:.' ..... ;~ .. ~~ ~ ',.' "~~,:. ' ... '.~" .. ' ."'. :,~ ' .... I

"Dhuue of unempio1JbeJlt lioald btcome tjs~~ipus.~·I'~~k'~ iWh~t· ~Q!UItl~~ 01,:[ , ,':~ . ;:mempl~yment W~uld be se?~,~usl' ,he ·~.li.e~r-ied·as ~1.~n~ the'ftg~e dl'~ ">'" .. "

'l znUUon. Government e;:,onomlsts are r~'poFtad'a.s .prl~~.ltelY prcdic~ that tmemployment will <.!limb :bo,re 4 faUUon hy :i'dbru::try. The m;.em~Jloyed

1.0 zoeduce some fif thOOewaste~,.~e bav~' zonflig la'h, 'dty pkl~g; . ',," , ..

government-inspocted meat, and ~y other llfAits oJ)·the freedom 01 enter';:l" i.;5 e, HoW far these wastes are dua to the QfS"poratlon is rwt elear" 11161

~6J~ffi~1~~1.0{·b~9 ·:·em!tetpr.!setmdotili~~!~··~ed :~:'.: .,: .... ", ... : .. ' ':. . :."i;: '~',"',: ,',": __ .: ..•.. ' , .. ' ".:. :,: ..•. "", ," .... :.cY<' t;1l~·~o.m~ ~ms~e.S~'bt!t'~e

.bl9.:c9~po~~~()J.l.·cr~~teS·,:otbetso" .. : " ." ,. '. ":'.; ::.'. . , , . , ": ;~.: .• ',/~;.~' ••• :.:.,,",'~", ' " •• ~.~. :', " ,f' ,'.-,

.... .' ........ i,<3)lUS~~' ruou9l!;lbeE9U!tin~oi()O!ati1buti~ ~d Re~ ~~ E1Iem

,::;.::' :.';: ·,':,.~.~r:'~.0n.di~o~s,.:~fS1!S~~Jull,?rnplO1men~p :t.beU~e:U~'R>·e~hQWD.~ : I· '., ..... . ',. .... .' , ..

f.-'·> .. ·::;.',:.~.:~Q~~~~~t7.:~~~~~~Y;.O~,~~solel,. on.,@ie.b~!s '9fse!f~m~est &nd. ' ~. ::> :.,,::.: '.'.' it.,,' :.', ":':. ,: !., I, ,:., ,,' ,:' .'.:'. 1'-":'.' 1 "':~' .' . ; . ' .. " . , ',,', :',:;'~~',-:r-:'~~"'~'_':I"

~'., ...... m&r~~t ~~~~~. woUld .be .c~~t&hl.!!2t to R'ewS!.rd .tbe.,11iid!l1jl~uru ~oducer ... iD .... '.'; '::':'~.' .. ~~ ;~<:"1 . '.' . .': . .... ".' ": . . ' ...... ', <--:. <;~.: ';~':l

.... ~opo'tion. -to ~ls contti~u~~p to .. ,product1pn Un t1i!e ;more 'Fec1s~ technical :: :., ".~" .. :: ~':"::',' . . __ .. " ~':, ~.: ; ~ ...... , :-. '.:,' :' ....... ':.' .' :. , . . '.;:.: ";\.;: '>,;-~:,~!...'., .

~. . . .' 'l8Dguag~ :o~' ~.~.' e,c9D.o~~t, i,·the. iD~lv!duat would. be certe.iD· ~ot to 'be, r~~~~ ; "< • " .. ~ -.- 0," ~ :, •• ,.',:~ .•. . . . • ... :;..,.1." ,':, .• ' ~·4'?- ..

: ." ~ , - :'!':'~'''.\,:' ,,:'."" _ \. ': ~ "; '.' ".4, ._.,~.'. ~:~, • '. " ,'~ ,~: •• ; ••.•••. : .... ".:".

:.' . ",' .>:. ". acep~d!ncj tQ .~' ~~~al pr·6.~U~Uo ... AgamD ~.pn.eUce .·~e h~ve ·~een:·:/:: .. :,:·:,·::.· :.- . •. ....... -: .. ':. '. ','. ,.' !: ..•. ,. ,;~ t,": .:;.' ",' '.~ ';.,', " '., • ~',,". . . ' •.•. . .' • . .;.'. "". ';:~:J'; .(~:.~'.:.~ .... , :,'

~ .......•. :~ ....... ·~9~~~~~,bY:;~~'#:~~,~ ·~9:,·~~~?~ze m.Js ~c~ .bY: .~~,~ld~9. ~bA!Dl~."~(~;.~ ... '>~; ,.... ,

.. '." ··.,!~emencJous,~.,. '." P.<?cn:,. .. ' .CQ!P,~:{ ....... e~ .. "'''''/.''''''~~~''i.Q~\ .•.. ' .. ;,; ";;;':'~""1

'~;i.,"!.:;:~:~~~:~;~1:~\9~'~~J~~~~*;~~~;~;~~t~:i~~~~!"'~~~~l'~'~,'~a}~t: .... ':',: "':tb1rdOf' '.' : .. ' "t,. ·······:o~UOli··dld·:D···t·:have;;tii~»nes:·sumes.erit~o' SUpport.:: .;:.: .~ ~,:.; .. ,.:' ..... >< :~;.,.-- .~.'. " . ':.: ;.~:/: .:.":f: .• >~ ,', ~ ......... ~. j.,:;.-~. ~:. ~::·;:,c' :::.~:·:,~/~.".·;~,~:·:,.,~:;~~::-~:~({X~<%.:~:.~'-~:: :.;:~:. ':~«;::~;·(·\:»/·<,~·:;.:;~:·~\:t;L 2;,{::~~Ir::~~';~.::" . ~·~:··:::::~~.\):t~,. 'j .:' .. ,': ,'" .,.,." ~:·~~~~~v~:()f}i~~9:~M,:~,~~~~/~1~9i,~~,§~}-~~'~,9rh~(~~~\~~~~:t:;,:':5.,-, ,.~>" .: .. } ~;i<~.::" ,;:';]

. -:- ". ~.' '. "t·;. .~ : . :d. ~.~ '~r, ~ ;~~.~. 1" ,:' :~ <"> ~~ ~ .. ' : '~'~~~~:J~;:;,~l'~ :f .. :./ , .. ~~ . 1!. )(:~;:~::~. ,~ : ~~; ~'}:~"~.~ ':: ,; ~ .:~~ ~~.~ ' .. :r";~ ~ M' ~:1,~ '~.~::'<: , \:~:·1~'~~~·:~~ ,I~ '~.): .:\~ 3:~: '.~' )~: ~',~~~'~ :'.~:~< ~I'I

' .. ;'-'. ~ {$3~~O.£or ~.~U)r ~f fo,ut~.;··:~~~;.~QI:~J~,~~~r~~·,,~~~~;·~Ifl· .~~~. t!l~',~ ~'''.'··,''",;,:-}r;·':! '. . . ~::' .' .-, .. :." ~._;".'.<: .. ,'.,,-' . '.;.p'<'::;" '~":;:::~~f~ :." .. :".:_:.~~}('~~:"~'.:~(.:~ ~'. ,~/>~~~~.;~:~~':)-.:":: /f·~~,;~::\\~\(:r:·:~t·~:>.; J.~l, :': .""-. ·:V:.1

. ,', .. : ... ·~t ~~d~~·tie:~~~~,~~~~u~;~~{'~I:~t:~~~~~,<;,,:'l . . ".' . ..:':<.' "-'>.". ".' ,:~:::.' _.;::'. > .~~:,: :';'~'·; •• ,\~::::'!'~:;'i;.:" .,~ '},: ~.;.:":/~',5H'::~;,'~" -"':>-:"~ : ::;,}~~.~: .... -~",~ ,>.--, '::.: . ~

btrtween the resulw,to be~ected: from'; tli$thoo~e~c~?wo~~{J~of.~tth's:., .' , " , ~ ...... ~ ~,.' , ..... ). .. ". LI, .' ,

atonustic eennon;~ and taCi30 to b(;}e~iied bomthe: ~.:~tda~r{}f a e~rpm-ate

economy under ~e (!ou(~ablB e(lltdi~dtt9:ot ,s~U";mterel~ e(lDtrol1ed ('nIl ".': ' '. '"

o , '

" .•..

.. ci· '.·:.· •. ;}f'%t:· .':,.

,~.;."" .. " .' ~

-\"",:. , ~! .

...... ,

.....

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r:>·'. ",,' <:-.:< . ,,' .',

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4» '. 'C~i~ llie' behavlo~ to beexpeeaed fgoQ". ': '. . . ," " .: . .' '.' . In ,~ mo~e eomplex

.' eco&l,omic modcd in which . , . j '. . .' , ' , ..• :. -'. ' '~:';' .'. . " :' . . a. ma oX" pwt of ~roduct1on is

; .....•.. ' .·.~ied9JIbY ci~rpiil'ete enteril!'lse. but mo a I&rqe ~~;\' ...• , . ':.: .. ~ .. ' ,'>by h1di1liciwu. enterprises Whicl! fit Smith's atomistic m6de~;;;t:·;},

. '.' "r .~':"". ' .. - '.' ,." .. ,." . , . ... . .', " ;'., ':: >.·"'"F,"· ',."

.;. ".,:'.' ,~ .';": ':>~,. >:: '~9.ther1lr9~:-paJf.t,1s 'carried on in f&etory.enter'Pl'ise$ ; .. ';.".,;';.',';. '.~<.,~ .. : "

. .' ~. ...

... ,-' ':'::': \:\:;,':/ .. ···5t:~~c;.~lil$~deE",;.~~:;,~~iflc;~oD$ ~~.~ .e~~q.,.~e':~~.~~~,·,t~tpt~C$ :", .': ,;,,<,:. ',,\> ,:" ,.'::;:::.~:,:\~:,.;«I.:',:! .. :."j!; :)':'\':::;:.~:".:; :~~>:: .:::/ ':'~.' ',. '.' ". ;: .. ,'~: <.',;~>~.':)'" >:.;~;F\.~:.\i:' \, .. ',' " . ..". :. ,~", ... ,. ~ ·~'the ·mmdrin~m.Of, Sm1U!°$ fresqom;~q j~Uee 'm' a'pmos comar&te .'. . .. ".' . '. :'. , ~:'" ',,', ...... ':"' .. ;'. '~ ~ <": :::.' .' .. :" :,,:,,(:, .': .,.. >':" ':' .. _ . _ . ,.' "'. " .. ::. :", ~: ~ ~.;. '\::: ..... r;::... ;,.",} , .~': .:: ,:" .~.-;:. .. ,.

'.' .' ,. .. ' .. . ... , ~ode~ in,.~e::~glii~.,o(the·:~O!;·e:e,?~P~eXjDg~~~ .• a :~~"~'~:<'.: . . . .'. .'. >~:'< .... : ! ':)!li-~, ~~~~~~:;~J;(:!;:.~,'!::;:;~;~? E::2:':,j;~?}~~;;ri:;)/.>,?'r, :,: :'j

. ,.':. '6) ':: 'A' . ··a\is~ttbe.ab~ve·:mOdWeauons·~~··.ith~ ·ii9lit~ of tb'~ti£~~ :·"?acUc.lit,i,V' "';" .'.'J

.' . : .... "/:~' ," ",".;~<:,':~.::'~"';< ">'.,:> .. r ~:i,~,:,.'", ... :~~,:,·~>::'t·,>.~:.~::~.<:·.:~~'.(./::::c~'~;~.:;:;.:~:~.:( .. :' ... :.:. ',~;.<.; ~~ J

".'. " ·-an{j·~:t&e ngh(Of.theJD~~MftiD·:fr~ed~m~'an~:J~.~ce:;;tO:bS:"/<·":/'''' .. ·,7 ~

.' .•... ···,·"············~.~~·~~F~u~f~~~~~:·+:~~~~~#;.~;~~~~~:;.,.:~/'.:.,~:-: .•.• "j ,: ··lh ·the 'abc~~ '_iSisI;'ha~e~ ~ei~:~ f~, .~e:;,pb3~u.~e$·~irt(~p~,::.···~,.'<.·~.:.:.:·: .. :

. .' .... .... ; .. ~.. ;:.':', ':, :::.:., .:." ".',:" ;.; . .' '<', 'i')·. ,:,~ '.:: ~: ... ~:,1_.'... .. : _,,)..>,.; .. ~ ::.:,)

Ina Justice as SmlW eml,celv~ th$ltti~:-/Thes'lJ:ais(.(p~~~ tsccm$!d~~:ri~.:.p:·:·:,. ,,//:}.d ".~ ",. ;,:" ." •. , ,j' .~.~~J • .. ,~ ~'l:'~ ~. ", :'?I .. ~.' ....... H ___ ,,'~. ~"'1~>~'" "" ~. :.'"" .:~:.' "'\.'..-.. ~: .. ':: .... 'l.~.:.. ',,:~~ ":",",, ~: _,

atld if othe;r' e~l',et)p~' of fteedoio" t.n<f JUs Uce' •• ;:~pt~9' )b~:rp~' $~Y$ .. ,' , .,:' :." ..' • ' ". ' ,,'. -' • '.: ~.~ ~ "". 0,' ", :._ • '" • P' • _, " :" .' " ,," -;.', f:.:. '>_'.

outUned abov~ wtuld ~~v~ to takG th~~ alt.UVe·obje~Uve~ ~tr~ OO{t~l,\tiLi,t , . - , '

. ~ . . .