Philanthropy and Social Investing: Blueprint 2011

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    ^bac`kxbzd~q `kh Wdga`c Akowxaki

    JC_O^ZAKX :>00

    Cugq Jozkbdc}

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    Jcuo~zakx Zowo`zgb & Howaik# Akg+

    :>0> Cugq Jozkbdc}

    @cc zaibxw zowozoh

    ^zakxoh ak xbo _kaxoh Wx`xow de @lozag`

    Jcuo~zakx Zowo`zgb & Howaik# Akg+

    9:> L`zfox Wxzoox# Wuaxo 1>>W`k Ez`kgawgd# G@ 180>:

    X= 80?+599+19>>

    E= 80?+599+1900

    O= akedNjcuo~zakxzh+gdl

    AWJK 192,>,50?,8:>52,8

    W~oga`c xb`kfw xd @kko Edgfo# ohaxdz# Azoko Kocwdk Howaik# `kh Bogxdz M`alo# iz`~bagw+

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    GDKXOKXW

    YB@X AW XBAW LDKDIZ@^B4 a

    0+ AKXZDH_GXADK 0

    :+ GB@KIOW XB@X L@XXOZ ?

    ^dcagq= Fkdyk `kh ukfkdyk gdkwopuokgow deGaxa}okw _kaxoh 5

    Hdkdz job`adz= `akxaki dk c`zioz g`k`w 2

    Xogbkdcdiq= Gb`kio idow ldjaco 1

    Zokd`xadkw= Yb`x A idx yzdki ak Jcuo~zakx :>0> 00

    7+ EDZOG@WXAKI :>00 0:

    :>00 iaaki= @ wcdy zoxuzk xd ~dwaxao izdyxb 0:

    Koy xddcw xd xz`gf iaaki 08

    Wdga`c akowxaki okxozw xbo l`akwxzo`l 0?

    Gdkwdcah`xadk de dkcako iaaki l`zfoxw 09

    Xbo akxozwogxadk de iaaki kh wdga`c akowxaki 01

    :>00 Yachg`zhw ::

    8+ :>0> ZOUOK_O XD XBO WDGA@C WOGXDZ @KH

    :>00 ^ZOHAGXADKW :8

    ^ujcag ldkoq :?

    ^bac`kxbzd~q :9

    Wdga`c akowxlokx hdcc`zw :2

    Ju}}ydzh Y`xgb 7>

    ?+ ICAL^WOW DE XBO E_X_ZO 7:

    Xbo C`khwg`~o ak :>00 78

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    YB@X AW XBAW LDKDIZ@^B4

    ^bac`kxbzd~q `kh Wdga`c Akowxaki= Jcuo~zakx :>00 aw `k `kku`c

    akhuwxzq edzog`wx jdux xbo g`~ax`c l`zfoxw edz wdga`c iddh+ O`gb

    qo`z ax ~zdahow k dozaoy de xbo guzzokx c`khwg`~o# ~dakxw xd

    l`mdz xzokhw# `kh hazogxw qduz `xxokxadk xd gdzkozw ybozo qdu

    g`k or~ogx wdlo al~dzx`kx jzo`fxbzduibw ak xbo gdlaki qo`z

    Ybq aw ax g`ccoh ` jcuo~zakx4

    @ jcuo~zakx aw ` iuaho edz xbakiw xd gdlo `w yocc `w ` wxdz`io

    hoago edz hogawadkw `czo`hq l`ho+ Iddh jcuo~zakxw# cafo iddh

    juachakiw# eax xboaz okazdklokx# zoecogx ` xbduibxeuc zoi`zh edz

    zowduzgow# kh `zo g`zoeuccq okiakoozoh kh `owxboxag`ccq ~co`w,

    aki+ Jcuo~zakxw iuaho xbo ydzf de l`wxozw `kh `zo akedzloh jq

    gz`exwlok+ Jcuo~zakxw g`k jo `hmuwxoh `w ydzf ~zdgoohw `khxboq deeoz wx`zxaki ~dakx edz euxuzo al~zdolokxw+ Iddh jcuo,

    ~zakxw zopuazo ` gdllaxlokx xd cawxok xd xbdwo edz ybdl xboq

    `zo hz`yk# kh xbo uwo de gdlldk iz`ll`z xd gdllukag`xo

    xbo zowucxw de gdukxcoww wfoxgbow `kh hawg`zhoh eazwx hz`exw+

    Jcuo~zakxw `zo ~ozeogx lox`~bdzw edz ~bac`kxbzd~ag ~c`kkaki+

    Xbaw hdgulokx yacc boc~ qdu ~c`k edz xbo gdlaki qo`z+

    Ybd yzdxo xbaw hdgulokx4

    Cugq Jozkbdc}# ^b+H+ b`w jook k`loh ` I`lo Gb`kioz ak

    ~bac`kxbzd~q jq Xbo Bueeakixdk ^dwx+ E`wx Gdl~`kqL`i`}ako

    k`loh boz jcdi yyy+~bac`kxbzd~q:097+gdl jowx ak gc`ww+

    Wbo aw xbo B@KH Edukh`xadk Eoccdy x xbo Koy @lozag` Eduk,

    h`xadk# ` awaxaki wgbdc`z `x Wx`kedzh _kaozwaxqw Gokxoz dk

    a ^bac`kxbzd~q `kh Wdga`c Akowxaki

    ^bac`kxbzd~q `kh Wdga`c Akowxaki= Jcuo~zakx :>00

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    YB@X AW XBAW LDKDIZ@^B

    ^bac`kxbzd~q kh Gaac Wdgaoxq# kh aw ezopuokxcq gaxoh ak xbo Koy

    Qdzf Xalow# xbo Y`cc Wxzoox Mduzk`c# `kh dk K^Z+ Jozkbdc} zukw

    Jcuo~zakx Zowo`zgb & Howaik# Akg+ ` wxz`xoiq gdkwucxaki eazl edz

    ~bac`kxbzd~ag akwxaxuxadkw kh akhaahu`cw+ Wbo bdchw J+@+ ezdl

    Q`co _kaozwaxq `kh ` L+@+ `kh ^b+H+ ezdl Wx`kedzh _kaozwaxq+

    Bdy ezopuokxcq aw xbo Jcuo~zakx u~h`xoh4Jcuo~zakxw `zo ~zdhugoh `kku`ccq `kh ~ujcawboh ak Hogoljoz

    de o`gb qo`z+ Ak,ho~xb zowo`zgb dk xbo xd~agw gdozoh aw ``ac,

    `jco jq `zz`kiolokx yaxb Jcuo~zakx Zowo`zgb & Howaik# Akg+

    Ybozo g`k A iox ldzo akedzl`xadk dk xbo xd~agw hawguwwoh4

    Xbo y`zh,yakkaki jcdi# bac`kxbzd~q:097# gdozw cc xbo xzokhw

    xb`x l`xxoz+ Ezoo wujwgza~xadkw xd xbo jcdi `zo ``ac`jco dkcako

    `x yyy+~bac`kxbzd~q:097+gdl+

    Ybozo g`k A iox ldzo gd~aow4

    Jucf gd~aow de 0>> dz ldzo `zo ``ac`jco jq gdkx`gxaki Jcuo~zakx

    Zowo`zgb & Howaik# Akg+ x :>00Njcuo~zakxzh+gdl+ Wakico gd~aow

    g`k jo ~uzgb`woh dkcako `x yyy+jcuo~zakxzh+gdl+

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    a ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    AKXZDH_GXADK

    :>0> y`w ` zdccoz gd`wxoz qo`z edz ~bac`kxbzd~q `kh wdga`c akowxaki+ Cak,

    iozaki oeeogxw de xbo zogowwadk fo~x hdk`xadkw cdy+ @x xbo w`lo xalo#

    l`kq de xbo ydzchw zagbowx akhaahu`cw ~ujcagcq ~cohioh xd hdk`xo b`ce de`cc xboaz yo`cxb xd ~bac`kxbzd~q+ Ybaco hdk`xadkw c`iioh# wdga`c g`~ax`c

    l`zfoxw olozioh ezdl ake`kgq akxd gbachbddh `kh lugb,`kxaga~`xoh

    ~ujcag akowxlokxw ak wdga`c iddh wooloh xd xooxoz dk xbo ohio de azzoc,

    o`kgo+ dwaxao kh koi`xao# izdyxb kh zoxz`gxadk xbowo zo xbo jowx

    howgza~xdzw de xbo qo`z idko jq+ Wd yb`x caow `bo`h4

    A kxaga~`xo xb`x :>00 yacc jo l`zfoh jq wooz`c al~dzx`kx hoocd~lokxw+

    Eazwx# iaaki yacc eak`ccq zoxuzk xd ~dwaxao xozzaxdzq# cxbduib xbo akgzo`woyacc jo xakq+ Wogdkh# wdga`c akowxaki yacc gdkxakuo xd ldo akxd xbo

    l`akwxzo`l# akgcuhaki xbo c`ukgb de ` lugb,`kxaga~`xoh wdga`c akowx,

    lokx orgb`kio+ Xbazh# jq xbo okh de :>00 yo yacc cddf j`gf dk xbo c`wx

    hog`ho `w xbo opua`cokx de xbo hdx gdl jddl ybok ax gdlow xd

    dkcako iaaki l`zfoxw xbo qo`z `bo`h yacc jzaki gdkwdcah`xadk `kh

    wb`z~okaki xd xbaw w`xuz`xoh w~`go+

    AKXZDH_GXADK 0

    0

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    Eazwx# cox lo hoeako xbo xozlw A uwo ak xbaw ldkdiz`~b+ @w aw `cy`qw xbo

    g`wo ak koy eaochw# xbo cakid `kh m`zidk aw wxacc oloziaki+ Xbozo `zo luc,

    xa~co xozlw edz wdlo xbakiw# kh wdlo xozlakdcdiq b`w lucxa~co lo`kakiw+J`wag`ccq# A haaho xbo ukaozwo de `gxdzw akxd xyd gcuwxozw xbdwo ybd

    hd xbo ydzf "hdozw `kh xbdwo ybd eukh xbo ydzf "hdkdzw+ Yaxbak o`gb

    de xbowo g`xoidzaow xbozo `zo kdk~zdeaxw `kh edz,~zdeaxw+

    Edz xbo ~uz~dwow de xbaw Jcuo~zakxwozaow# A uwo xbo xozlw `kh hoeakaxadkw

    duxcakoh ak xbo x`jco jocdy+

    L`kq dxboz xozlw `zo uwoh+ Iaaki# gb`zaxq# `kh iz`kxl`faki `zo `cc

    xozlw `wwdga`xoh yaxb kdk~zdeax dzi`ka}`xadkw `kh ~bac`kxbzd~q+ Al~`gx

    akowxdz aw ` gdlldk xozl edz wdga`c akowxdz+ Wdga`c juwakowwow zo dexok

    g`ccoh wdga`c okxoz~zawow# `cxbduib bozo yo gbddwo xd uwo wdga`c okxoz,

    ~zawo xd zoeoz xd okxoz~zawow ak jdxb edz,~zdeax `kh kdk~zdeax wogxdzw+

    Ybaco ldwx ~bac`kxbzd~q eukhw kdk~zdeaxw# ~bac`kxbzd~ag edukh`xadkw`zo akgzo`wakicq yaccaki xd eukh dz akowx ak edz,~zdeax juwakowwow+ Ybaco

    ldwx wdga`c akowxaki eukhw id xd wdga`c juwakowwow# akowxlokxw g`k jo l`ho

    ak kdk~zdeax dzi`ka}`xadkw+ Eukhw g`k ecdy `gzdww xbo kdk~zdeax$edz,

    ~zdeax haaho+ Kdk~zdeax `kh edz,~zdeax okxoz~zawow g`k# `kh dexok hd#

    ydzf xdioxboz+ Xbozo zo l`kq kdk~zdeax$edz,~zdeax mdakx okxuzow ybozo

    xbo xyd okxoz~zawow `zo hohag`xoh xd xbo w`lo lawwadk+ Edz wal~cagaxqw

    w`fo A yacc wxagf xd xbo xozlw ahokxaeaoh `jdo+

    : ^bac`kxbzd~q `kh Wdga`c Akowxaki

    Kdk~zdeax

    Wdga`c edz,~zdeax

    Hdozw

    "okxoz~zawow xb`x

    ~zdhugo wdga`c iddh!

    Kdk~zdeax dzi`ka}`xadkw

    Wdga`c juwakowwow

    Hdkdzw

    "eukhozw de xbdwo

    okxoz~zawow!

    ^bac`kxbzd~q

    Wdga`c akuowxdzw

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    A xbakf de xbo okxazo gdccogxadk de hdozw `kh hdkdzw `w xbo wdga`c c`kh,

    wg`~o dz xbo wdga`c wqwxol `kh ~zdaho `k al`io `kh k`zz`xao howgza~xadk

    de ax dk ~`iow 78 , 79+ bac`kxbzd~q kh wdga`c akowxaki orawx ak k odc,aki xd~diz`~bq de owx`jcawboh akwxaxuxadkw `kh koy okxoz~zawow+ Xbaw

    c`khwg`~o gb`kiow o`gb qo`z xbzduib xbo ~zdizowwadk "wdloxalow

    gdkxakuduw# dxboz xalow ~ukgxu`xoh `kh o~awdhag de akkd`xadkw ak

    eak`kga`c xddcw# xbo gdkxakuoh w~zo`h de xogbkdcdiq# holdiz`~bag wbaexw#

    ~ujcag wogxdz eukhaki ~zadzaxaow# kh gb`kiow ak xbo zoiuc`xadkw xb`x iuaho

    ~bac`kxbzd~q `kh wdga`c akowxaki+ Z`zocq hdow xbo c`khwg`~o or~ozaokgo

    z`~ah dz xogxdkag wbaexw+ Gb`kio ak xbaw akhuwxzq# ybaco hzaok jq e`laca`z

    edzgow# aw wcdyoz xb`k ak dxboz akhuwxzaow jog`uwo de xbo ~ozwdk`c k`xuzode ~bac`kxbzd~q `kh xbo ez`ilokxoh wx`xo de wdga`c akowxaki+

    Ak xbo eazwx wogxadk de xbaw Jcuo~zakx :>00# Gb`kiow xb`x L`xxoz# A baib,

    caibx xbo Wu~zolo Gduzx hogawadk ak Gaxa}okw _kaxoh + Eohoz`c Ocogxadk

    Gdllaxxooxb`x yacc b`o waikaeag`kx al~cag`xadkw edz kdk~zdeax `gxaaxaow#

    dzi`ka}`xadk`c wxzugxuzo# `kh zookuo wduzgow+ A `cwd cddf `x xbo wox de

    gbdagow xb`x `cc hdkdzw# jai `kh wl`cc# `zo kdy k`ai`xaki+ Xbo l`ak,

    wxzo`laki de ldjaco iaaki# ybaco kdx `w iz`kh ` gb`kio `w xbo ~zogohakixyd# wbdyw uw xb`x xogbkdcdiq gdkxakuow xd deeoz koy xddcw+ Edccdyaki

    xbaw wogxadk# A kdxo lq ~zohagxadkw ezdl :>0> xb`x hah kdx jo`z ezuax+

    Ak xbo wogdkh wogxadk# Edzog`wxaki :>00# A l`fo xbzoo edzog`wxw `jdux

    xbaw wdga`c c`khwg`~o+ Edz :>00# A or~ogx ` ozq wcaibx akgzo`wo ak iaaki#

    xbo eazwx u~xagf wakgo :>>2+ A cwd ~zohagx xb`x wdga`c akowxaki yacc or~`kh

    `kh jogdlo ooz ldzo l`akwxzo`l+ Eak`ccq# A cddf `x gdkwdcah`xadk de

    dkcako iaaki l`zfoxw ~`zxaguc`zcq `kh or`lako xbo al~cag`xadkw degdkwdcah`xadk edz hdozw `kh hdkdzw+

    Xbo korx wogxadk# :>0> Zookuo `kh :>00 ^zdmogxadkw# wqkxbowa}ow

    h`x` ezdl wooz`c wduzgow `jdux ~bac`kxbzd~ag iaaki# wdga`c akowxaki#

    `kh ~ujcag wogxdz "_+W+ dkcq eukhaki edz xbo wdga`c c`khwg`~o+

    Eak`ccq# A ~zowokx ` Ical~wo de xbo Euxuzo `kh baibcaibx xbo fakhw de

    gbdagow `cc de uw yacc e`go ak xbo gdlaki qo`z"w+

    AKXZDH_GXADK 7

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    Jcuo~zakx :>00 aw yzaxxok xd boc~ qdu gz`ex ` ~c`k edz qduz dyk wdga`c

    akowxaki `kh ~bac`kxbzd~ag id`cw edz xbo qo`z `bo`h+ A yocgdlo qduz

    eoohj`gf+ ^co`wo gdkx`gx uw `x :>00Njcuo~zakxzh+gdl yaxb puowxadkw#wuiiowxadkw# dz or`l~cow de bdy qdu uwoh xbaw hdgulokx+

    8 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    GB@KIOW XB@X L@XXOZ

    Xbzoo al~dzx`kx gb`kiow yacc `eeogx hdkdzw ak :>00+

    ^dcagq= Xbo ldwx al~dzx`kx ~dcagq gb`kio edz xbo wdga`c wogxdz ak :>00

    yacc jo xbo oeeogxw de xbo Wu~zolo Gduzxw hogawadk ak Gaxa}okw _kaxoh

    w+ xbo EOG+ Xbaw hogawadk zoldoh ~zadz zowxzagxadkw dk akho~okhokx

    w~okhaki jq gdz~dz`xadkw `kh ukadkw dk ocogxadk g`l~`aikw+ Dko

    alloha`xo zowucx de xbo M`ku`zq hogawadk y`w xd ukco`wb ` ecddh de

    ldkoq xd `hozxawaki ak wu~~dzx de dz d~~dwaxadk xd j`ccdx lo`wuzow

    dz g`khah`xow+ @x xbo w`lo xalo# jog`uwo ldwx de xbaw ldkoq y`w gb`k,

    kocoh xbzduib gozx`ak xq~ow de kdk~zdeaxw# xbo hogawadk `cwd b`w ` buio

    ~dxokxa`c al~`gx dk xbowo dzi`ka}`xadkw `w ` gc`ww `kh dk ~ujcag

    ~ozgo~xadk de xbol+

    Hdkdz job`adz= @ wogdkh waikaeag`kx e`gxdz edz hdkdzw kh kdk~zdeaxw ak

    :>00 aw xbo jzo`hxb de gbdagow edz iaaki# wdga`c akowxaki# kh wbd~~aki

    edz iddh xb`x `zo kdy ``ac`jco xd `kqdko cddfaki xd wu~~dzx

    wdga`c iddh+ Ybozo`w wdga`c iddhw b`o cdki jook xbo ~zdakgo de

    kdk~zdeaxw `kh ~bac`kxbzd~q# edz,~zdeax wdga`c juwakowwow `kh ~dwaxao,

    zoxuzk wdga`c akowxaki b`w or~`khoh xd ` ~dakx ybozo oozq dko de uw

    GB@KIOW XB@X L@XXOZ ?

    :

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    kdy luwx gbddwo# `gxaocq dz ~`wwaocq# `jdux bdy xd wu~~dzx xbo

    awwuow dz g`uwow yo g`zo `jdux+ Eukhozw de `cc fakhw# `kh xbdwo ybd

    wozo xbol# kdy b`o ` lugb jaiioz g`k`w de d~xadkw dk ybagb xdl`fo ` l`zf+

    Xogbkdcdiq= Eak`ccq# xogbkdcdiq gdkxakuow xd hawzu~x ~bac`kxbzd~q+ @w

    ax b`w ak wd l`kq dxboz `zo`w de caeo# xbo ldjaco ~bdko zodcuxadk b`w

    kdy euccq okxozoh ~bac`kxbzd~q `kh aw joiakkaki xd wbdy waikw de

    xz`kwedzlaki kdx muwx ybok `kh bdy yo iao jux bdy yo dzi`ka}o

    duzwocow edz `gxadk+

    ^dcagq= Fkdyk `kh ukfkdyk gdkwopuokgow deGaxa}okw _kaxoh

    Lugb b`w jook yzaxxok `jdux xbo ~dcaxag`c `kh eak`kga`c al~`gx de

    Gaxa}okw _kaxohdk ocogxadk g`l~`aikw+0 Alloha`xocq edccdyaki xbo ocog,

    xadkw dk Kdoljoz :# :>0># owxal`xow de akho~okhokx or~okhaxuzow

    xdx`coh `x co`wx (8?> laccadk# ldzo xb`k xyago `w lugb `w y`w w~okx ak

    :>>5# xbo c`wx lahxozl ocogxadk+: Xbaw akgcuhow x co`wx (0:5 laccadk ezdl

    kdk~zdeax dzi`ka}`xadkw xb`x hd kdx b`o xd hawgcdwo xboaz hdkdzw+7

    Xbo ~dxokxa`c al~`gx de xbo hogawadk dk kdk~zdeaxw `w ` gc`ww de dzi`ka,

    }`xadk kh dk xbo ~ujcag ~ozgo~xadk de xbol b`w jook coww x`cfoh jdux+

    Eazwx# xbo gb`kio ak zucow `jdux eukhaki ~dcaxag`c `gxaaxq b`w gb`kioh

    xbo eak`kga`c akgokxaow edz wdlo x`r,orol~x dzi`ka}`xadkw `kh b`w

    okgduz`ioh xbol xd akgzo`wo xboaz hazogx oki`iolokx ak ~dcaxagw+8 Ldwx

    de xbo eukhw ukco`wboh jq xbo Wu~zolo Gduzxw hogawadk yozo gb`k,

    kocoh xbzduib kdk~zdeaxw dzi`ka}oh ukhoz w~ogaeag ~zdawadkw de xbo x`r

    gdho howaik`xoh `w ?>0"g"8 dz ?>0"g"5+ Ybaco xbowo `zo wo~`z`xo ezdl

    xbo ?>0"g"7 howaik`xadk iaok xd ldwx gb`zax`jco kdk~zdeaxw# xbaw coi`c

    hawxakgxadk lo`kw caxxco xd xbo iokoz`c ~ujcag+ Xbo gdkeuwadk `jdux xbo

    zdco de xbowo dzi`ka}`xadkw ak xbo ~dcaxag`c ~zdgoww aw al~dzx`kx edz

    gb`zax`jco kdk~zdeaxw xd xbo orxokx xb`x xbo ~ujcag gdkec`xow ~dcaxag`c

    `gxaaxq "ybagb xboq l`q dz l`q kdx `~~zdo de yaxb gb`zax`jco `gxa,

    axaow+ @ggdzhaki xd Xbo Y`wbakixdk ^dwx# 2> ~ozgokx de `cc @lozag`kw

    "zoi`zhcoww de ~dcaxag`c ~`zxq `eeaca`xadk d~~dwoh xbo hogawadk jq xbo

    Gduzx+?

    5 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    Eak`kga`c `k`cqwxw dexok kdxo xb`x xbo l`zfox b`xow `ljaiuaxq# `kh

    ldzo xb`k ak xbo ~`wx gb`zax`jco hdkdzw `kh kdk~zdeaxw e`go `k ukgoz,

    x`ak euxuzo `jdux xbo cakow joxyook gb`zax`jco `kh ~dcaxag`c `gxaaxq+Xbawl`q co`h wdlo xd x`fo izo`x zawfw# jux

    ldwx dxbozw yacc d~x edz ` w`eoz# ldzo

    gdkwoz`xao `~~zd`gb+ Xbo c`yw xb`x

    iuaho gb`zax`jco dzi`ka}`xadkw akdco,

    lokx ak awwuo `hdg`gq b`o cdki jook

    wdloyb`x `iuo+ Xbo `exozwbdgfw de

    Gaxa}okw _kaxoh yacc akgcuho xbo wx`zx

    de ~ozadh de xowxaki# xza`c jq ozzdz# kh koy g`wo c`y xd hoxozlako yb`xzucow kdy `~~cq xd ?>0"g"7 kdk~zdeax dzi`ka}`xadkw+ Xbaw l`q ~co`wo

    wdlo kh kioz dxbozw# jux xbozo yacc jo ~ozadh de gdkeuwadk edz oozqdko+

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    or~okhaxuzow ax `cwd z`awoh xbo kooh edz ` koy cddf `x hawgcdwuzo

    zopuazolokxw edz hdkdzw+ Hdkdzw xd ~dcaxag`c ~`zxaow kh ~dcaxag`c gxadk

    gdllaxxoow luwx jo hawgcdwoh jq k`lo yaxbak ` zo`wdk`jco `ldukx de

    xalo+ Coiawc`xao oeedzxw xd ~`ww wxzagxoz hawgcdwuzo zopuazolokxw dk kdk,~zdeaxw xb`x l`fo akho~okhokx or~okhaxuzow e`acoh ak xbo Wok`xo ak :>0>+

    Wdlo coi`c wgbdc`zw jocaoo xb`x akgzo`waki xbo hawgcdwuzo zopuazolokxw

    dk `cc hdk`xadkw yacc zowucx ak xbo Gduzx ookxu`ccq zoldaki `cc

    zowxzagxadkw dk ~dcaxag`c w~okhaki+ Dxbozw z`awo xbo ~zdjcol de zocqaki dk

    `k`cdi hawgcdwuzo zopuazolokxw ak ` haiax`c `io `kh wuiiowx xb`x

    hdkdz hawgcdwuzo koohw xd jo ldzo ezopuokx `kh xalocq ybozo ~dcaxag`c

    gdkxzajuxadkw `zo gdkgozkoh+ Eak`ccq# ae koy hdkdz hawgcdwuzo zucowxzaiiozoh jq ~dcaxag`c iaaki yozo `~~caoh xd `cc gb`zax`jco iaaki# xbo

    wbaex yduch cafocq b`o ` h`l~okaki oeeogx dk cdki,boch xz`haxadkw de

    `kdkqlduw ~bac`kxbzd~q+

    Ax aw ukcafocq xb`x xbo gduzxw yacc zowdco `kq de xbowo puowxadkw ak :>00+

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    d~okoh u~ ldzo xb`k muwx ` ecddh de koy ldkoq xd wdlo dzi`ka}`xadkw#

    GB@KIOW XB@X L@XXOZ 9

    Xbo Gaxa}okw _kaxohg`wo d~okoh

    u~ ldzo xb`k muwx ` ecddh de koy

    ldkoq xd wdlo dzi`ka}`xadkw#

    ax ukco`wboh ` koy oz` de

    kdk~zdeax c`y+

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    ax ukco`wboh ` koy oz` de kdk~zdeax c`y+ Xbo oeeogxw dk xbo wdga`c wogxdz#

    axw `gxaaxaow# kh hdkdz hawgcdwuzo yacc joiak xd jo wdzxoh dux ak :>00+

    Hdkdzw l`q eakh xbolwocow joaki wfoh xd wu~~dzx k dzi`ka}`xadk xb`x

    hdow kdx hd hazogx ~dcaxag`c ydzf jux xb`x b`w `k `eeaca`xo dzi`ka}`xadk

    xb`x hdow+ Gc`zaxq de ~uz~dwo kh akxokxadk edz xbo eukhw yacc jo foq+ @w de

    :>0># x`r hohugxajacaxq `kh `kdkqlaxq

    `zo wxacc d~xadkw edz kdk,~dcaxag`c

    gdkxzajuxadkw+ Jdxb eukhozw kh dzi`k,

    a}`xadkw yacc y`kx xd `dah gdkeuwadk jq

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    xboq wu~~dzxoh+

    Hdkdz job`adz= ^`akxaki dk ` c`zioz g`k`w

    Hdkdzw `zo akgzo`wakicq `y`zo xb`x# ak `hhaxadk xd gb`zax`jco d~xadkw#

    xboq cwd b`o wdga`c akowxaki cxozk`xaow xb`x g`k jo uwoh xd ggdl~cawb

    xboaz wdga`c id`cw+ Ybozo dkgo xboq laibx b`o edguwoh dk iz`kx l`faki xd

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    Xbaw akxzdhugow wooz`c d~~dzxukaxaow+ Hdkdzw b`o ldzo gbdagow# xbduib

    xboq l`q kdx qox b`o `cc xbo xddcw xboq yduch cafo xd b`o xd akedzl

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    wdga`c iddh yacc akgzo`wo+ Edz kdk~zdeaxw# xbaw z`awow xbo ~dxokxa`c edz woof,aki jdxb iz`kx hdcc`zw `kh ~zdiz`l, dz lawwadk,zoc`xoh akowxlokxw ezdl

    akhaahu`c hdkdzw dz edukh`xadkw+ Edz wdga`c juwakowwow# xbo koyw `jdux

    wdga`c akowxaki aw `cldwx `cc iddh+ @ :>0> wxuhq lo`wuzoh xbo ~dxokxa`c

    l`zfox edz wdga`c akowxaki x ldzo xb`k (0:> jaccadk waikaeag`kx ldukx

    de zookuo xb`x `~~o`zw xd jo ~dawoh xd l`fo ` haeeozokgo+

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    2 ^bac`kxbzd~q `kh Wdga`c Akowxaki

    Xd xbo orxokx xb`x akhaahu`cw `hh

    wdlo de xboaz akowxlokx zowduzgow

    xd xboaz gb`zax`jco ~dzxedcadw# xbo

    eukhw ``ac`jco edz eak`kgaki wdga`c

    iddh yacc akgzo`wo+

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    `cdko ` kdk~zdeax `kh ` wdga`c juwakoww d~oz`xaki dk xbo w`lo awwuo+ Yo

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    :>00 yacc jo eaccoh yaxb d~~dzxukaxq `kh# ~ozb`~w# wdlo gdkeuwadk `w

    ~bac`kxbzd~ag `kh wdga`c akowxaki d~~dzxukaxaow ~zowokx xbolwocow

    xdioxboz+ D~~dzxukaxaow edz hdkdzw kh wdga`c akowxdzw xd ydzf xdioxboz

    `kh co`zk ezdl o`gb dxboz `zo cafocq xd jogdlo ldzo gdlldk `kh ldzo

    ~d~uc`z+

    Xogbkdcdiq= Gb`kio idow ldjaco

    Ldjaco iaaki yokx l`akwxzo`l edccdyaki xbo B`axa o`zxbpu`fo ak

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    akoax`jcq hdow# xogbkdcdiq gdkxakuoh xd hh xd xbo ~`kd~cq de y`qw yo

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    Edz wooz`c zo`wdkw# xbo zo`c `cuo de xbo xorx iaaki# bdyooz# l`q kdxjo xbo ldkoq ax z`awow+ Eazwx de `cc# akhaahu`c hdk`xadkw dk ` ldjaco

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    zukkaki ` ldjaco iaaki g`l~`aik `zo ~zdbajaxao edz l`kq dzi`ka}`,

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    zogoao qduz hdk`xadk+ Eak`ccq# xbozo `zo coiaxal`xo gdkgozkw `jduxhdkdz h`x` ak xbaw ~zdgoww+ Kdk~zdeaxw `zo boch `x `zlw cokixb jq xbo

    akxozloha`zq `iizoi`xdzw `kh xbo xocogdll gdl~`kaow+ Xbaw calaxw xbo

    kdk~zdeaxw `jacaxq xd owx`jcawb `k dkidaki zoc`xadkwba~ yaxb ldjaco

    hdkdzw+ @x xbo w`lo xalo# hdkdzw eo`z xb`x xboq yacc d~ok xbolwocow u~

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    edzioh joxyook kdk~zdeaxw `kh wu~~dzxozw ybd oki`io yaxb xbol jq

    GB@KIOW XB@X L@XXOZ 1

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    ol`ac dz Xyaxxoz+ Edccdyaki xbo o`zxbpu`fo# l`kq ~od~co l`ho ` puagf

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    xbo wdga`c wogxdz ak :>00+ A or~ogx xb`x koy ~bdko,j`woh ~`qlokx

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    xboaz gdllukaxaow+

    0> ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    ZOKDU@XADKW XD :>0> JC_O^ZAKX 00

    ZOKDU@XADKW XD :>0> JC_O^ZAKX

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    eoy wogxdzw xb`x `hhoh mdjw huzaki xbo c`wx xyd qo`zw+ @ggdzh,

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    `oz`io de 7+7 ~ozgokx+ 5

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    EDZOG@WXAKI :>00

    Bo`haki akxd :>00# A woo eduz cdki,xozl xzokhw wb`~aki xbo c`khwg`~o+

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    dkcako xz`kw`gxadk`c wu~~dzx xd kdk~zdeaxw `kh ~bac`kxbzd~ag hdkdzw

    yacc lozio dz id dux de juwakoww ak :>00+

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    jook oeeogxaocq `x ` wx`khwxacc wakgo :>>2+ Iaaki owxal`xow wbdyoh `

    0: ^bac`kxbzd~q `kh Wdga`c Akowxaki

    7

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    hogcako ezdl :>>2 xd :>>1 `kh A `kxaga~`xo xbo eak`c kuljozw edz :>0>

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    `w cdy `w `kxaga~`xoh# ax yacc kdx x`fo ` cdx de izdyxb xd wbdy ~dwaxao

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    EDZOG@WXAKI :>00 07

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    aw dexok xbo zoga~aokx de xbo c`ziowx iaexw# gdkxakuoh xd hdlak`xo xbaw xd~

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    Xbowo loi`,iaexw b`o jook hogcakaki ak jdxb wa}o `kh kuljoz+ Xbo

    Gbzdkagco de ^bac`kxbzd~q zo~dzxoh ` xdx`c de wook iaexw de (0>> laccadk dzldzo ak :>>1 `kh eaexook j`gf ak :>>2+ Xbo xd~ xok c`ziowx iaexw ak o`gb

    de xbo c`wx xbzoo qo`zw yozo ydzxb ldzo xb`k (:+9 jaccadk ak :>>1#

    (2 jaccadk ak :>>2# `kh (8 jaccadk ak :>>9+

    Koy xddcw xd xz`gf iaaki

    Dko dxboz e`gxdz# z`xboz xogbkag`c ak k`xuzo# akecuokgow xbowo ~zohagxadkw+

    Ak :>0> wooz`c koy xz`gfaki xddcw edguwoh dk iaaki yozo c`ukgboh edz

    xbo eazwx xalo+ Dko de xbowo aw xbo Jc`gfj`uh Akhor de Gb`zax`jco Iaaki#ybagb zo~dzxw ldkxbcq `oz`iow `kh `kku`c gdl~`z`xao h`x` dk eukhw

    z`awoh jq ldzo xb`k 0#8>> dzi`ka}`xadkw yaxb ` gdccogxao (: jaccadk ak

    zookuo+ Xyd,xbazhw de xbo y q xbzduib :>0> xbo Akhor wbdyoh akgzo`wow

    ak ldkxbcq `oz`iow edz eao de xbo oaibx ldkxbw zo~dzxoh+

    Jowahow Jc`gfj`uhw akhor# dxboz koy lo`wuzow akgcuho zo~dzxw# xbduib

    coww ezopuokx xb`k ezdl Jc`gfj`uh# ezdl Gdkad# Akg+# X ziox @k`cqxagw

    "` Jc`gfj`uh wujwaha`zq# xbo @wwdga`xadk de Eukhz`awaki ^zdeowwadk`cw#`kh xbo Ydzch Iaaki Akhor+ Xbo akgzo`wo ak dkcako iaaki aw ~`zxcq

    zow~dkwajco edz xbowo koy akhagow dkcako iaaki `kh zogoaaki aw lugb

    o`waoz xd xz`gf jog`uwo xbo akedzl`xadk aw `czo`hq haiaxa}oh+ A xbakf xbo

    c`ukgb de xbowo koy xz`gfaki xddcw `cwd ~dakxw xd xbo l`xuz`xadk de xbo

    iaaki wogxdz+ Xboq l`zf xbo joiakkaki de ` koy oz` ak ybagb l`kq

    ~uzoqdzw de h`x` yacc mdgfoq edz `xxokxadk yaxb owx`jcawboh wduzgow wugb

    Iaaki _W@ `kh Xbo Edukh`xadk Gokxoz+

    08 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    Zo`c,xalo xz`gfaki de iaaki aw kdx allakokx+ Bdyooz# ax aw ~dwwajco

    xd al`iako ` xalo ak xbo kdx,xdd,hawx`kx euxuzo ybok hdkdzw `kh

    okxoz~zawow yacc b`o `ggoww xd xzokh h`x` xb`x `zo ezopuokx okduib `kh`gguz`xo okduib xb`x xboq g`k jo uwoh edz ~c`kkaki ~uz~dwow+

    Wdga`c akowxaki okxozw xbo l`akwxzo`l

    Xbozo `zo xbzoo waikw xb`x wdga`c akowxaki aw l`faki ` xz`kwaxadk ezdl `

    wx`zxu~ xd ` izdyxb ~b`wo# ook xbduib yo wxacc hd kdx b`o wdcah

    j`wocako lo`wuzow+ Wdga`c akowxaki akgcuhow `cc `gxao xq~ow de wdga`ccq

    zow~dkwajco akowxaki# akgcuhaki edukh`xadk ~zdiz`l,zoc`xoh akowxaki

    "^ZAw+ Ybaco yo b`o kd `izooh,u~dk gdukx de `cc de wdga`c akowxaki#`wwoxw joaki uwoh xbaw y`q `zo l`kq bukhzohw de laccadk hdcc`zw ldzo

    xb`k xbo (? jaccadk ak edukh`xadk ^ZAw+ @x xbo w`lo xalo# xboq `zo

    gozx`akcq kdybozo ko`z xbo duxoz calax de xbo l`zfoxw ~dxokxa`c# ybagb

    yduch jo xbo (9 xzaccadk boch ak wdga`ccq zow~dkwajco akowxlokx `wwoxw

    ydzchyaho+

    Waikw de izdyxb akgcuho k or~`kwadk ak xbo kuljoz de wdga`c juwakowwow#

    xbo owx`jcawblokx de wooz`c c`zio eukhw# kh xbo gdkxakuaki akxozowx ak xbowogxdzw oeedzxw xd hoeako axwoce+

    Dk xbo eazwx ~dakx# A cddf xd xbo izdyxb de J Gdz~dz`xadkw "xbo J

    wx`khw edz jokoeax+ Xbowo b`o x`fok dee wakgo xboaz c`ukgb ak :>>2+ Ak

    Dgxdjoz :>0> xbozo yozo ldzo xb`k

    7>> zoiawxozoh J Gdz~dz`xadkw ak eaexq,

    eduz akhuwxzaow yaxb gdccogxao l`zfox

    g`~ax`ca}`xadk de (: jaccadk+9 Xbo edzjokoeax gdz~dz`xadk wxzugxuzo `cwd

    i`akoh coi`c zogdikaxadk ak L`zqc`kh

    `kh Uozldkx ak :>0>+

    Ak xozlw de c`zio eukhw# yo bo`h akxd :>00 yaxb xbzoo c`zio wdga`c

    akowxlokx eukhw u~ `kh zukkaki+ Xbowo xbzoo eukhw Aika`# Jcuo

    Dzgb`zh# `kh Co`~ezdi Akowxlokxw o`gb b`o `x co`wx (0>> laccadk xd

    akowx ak wdga`c juwakowwow+ @w al~dzx`kx w xbowo c`zio eukhw zo# xboq cwd

    EDZOG@WXAKI :>00 0?

    Waikw de izdyxb ak wdga`c akowxaki

    akgcuho `k or~`kwadk ak xbo kuljoz

    de wdga`c juwakowwow# xbo owx`jcawb,lokx de wooz`c c`zio eukhw# `kh

    xbo gdkxakuaki akxozowx ak xbo

    wogxdzw oeedzxw xd hoeako axwoce+

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    wokh gzaxag`c waik`cw xd lah,l`zfox akowxdzw `kh eukh hoocd~ozw+ :>00

    yacc jo xbo qo z edz ~ddcoh eukhw `kh eak`kga`c obagcow `aloh `x wdga`c

    akowxdzw ak xbo (:?#>>> , (0>>#>>> z`kio# kdx muwx xbdwo yaxb ldzo xb`k(0 laccadk xd akowx+ Xbo ~`wx qo`z cwd w`y l`mdz A^D ak lagzdeak`kgo

    ybok xbo Akha`k gdl~`kq WFW yokx ~ujcag dk Akha`w wxdgf orgb`kio+

    Dko alloha`xo zowucx de xbaw A^D y`w ` koy (08? laccadk wdga`c

    akowxlokx eukh# w xbo okxuzo g`~ax`cawx Uakdh Fbdwc` ~cohioh baw ~zdeaxw

    ezdl xbo WFW ho`c xd wugb ` eukh+

    Dko oeedzx xd hoeako xbo wogxdz# xbo xbazh `kku`c Wdga`c G`~ax`c L`zfoxw

    Gdkeozokgo :>0> "WdG@^0># hzoy xbzoo xalow `w l`kq ~`zxaga~`kxw `wxbo eazwx gdkeozokgo+ Xbo gdkeozokgo aw guzzokxcq ~c`kkaki xd or~`kh xd

    Y`wbakixdk# H+G+ kh Ouzd~o+ Ak hhaxadk# xbo xbazxq,xyd loljozw de xbo

    Icdj`c Al~`gx Akowxaki Koxydzf c`ukgboh ` wox de gdlldk wx`kh`zhw

    edz lo`wuzaki kh zo~dzxaki wdga`c iddh+ Xbaw baibcq awajco `hd~xadk de

    xbo Al~`gx Zo~dzxaki `kh Akowxlokx Wx`kh`zhw "AZAW :+> waik`cw `

    gozx`ak cooc de akhuwxzq gdbowadk+

    Joqdkh xbowo w~ogaeag akhag`xadkw xb`x wdga`c akowxaki aw hoocd~aki `w `wogxdz# edukh`xadkw b`o gdkxakuoh xd wbdy akxozowx ak uwaki okhdyoh

    `wwoxw edz ~zdiz`l,zoc`xoh akowxlokxw# dko xq~o de wdga`c akowxaki+ Xbo

    Ldzo edz Lawwadk g`l~`aik# ybagb `alw xd akgzo`wo lawwadk akowxaki jq

    (0> jaccadk ak eao qo`zw# hdujcoh ezdl xbazxq,kako edukh`xadk loljozw

    `x axw c`ukgb ak Dgxdjoz :>>1 xd wookxq,oaibx ak Dgxdjoz :>0>+

    Gdkeozokgo wowwadkw dk wdga`c juwakowwow kh okxazo wdga`c akowxaki xz`gfw

    jog`lo gdlldk `x l`akwxzo`l ~bac`kxbzd~q gdkeozokgow+ @cc de xbowo

    ~dakx xd `k or~`khaki wogxdz yaxb akgzo`waki akecuokgo+

    ^adkoozw ak xbo eaoch de wdga`c akowxaki gdkxakuo xd akkd`xo+ Coi`gq

    Uokxuzo# j`woh ak ^`cd @cxd# G`caedzka`# aw ` eukh xb`x ~zdahow hdkdzw

    yaxb ggoww xd xd~ xaoz okxuzo kh ~za`xo opuaxq ~c`golokxw w lo`kw

    de akgzo`waki xboaz ~bac`kxbzd~ag zowduzgow+ Ocook qo`zw exoz ~adkoozaki

    `k `iizoi`xoh akowxlokx `~~zd`gb xd izdyaki ~bac`kxbzd~ag `wwoxw#

    Coi`gq Uokxuzo or~`khoh axw wozagow xd hdkdzw jq bazaki ` Gbaoe

    ^bac`kxbzd~q Deeagoz ak :>0>+ Coi`gqw ldhoc de `iizoi`xaki eukhw edz

    05 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    akowxlokx# ybaco `ccdyaki hdkdzw akho~okhokgo `kh ecorajacaxq ak xboaz

    iaaki# aw cafocq xd ~zdo akgzo`wakicq ~d~uc`z+

    @w al~dzx`kx `w xbo l`xuz`xadk de wdga`c akowxaki aw xbo al~`gx xb`x

    xbowo ~z`gxagow `zo b`aki dk xz`haxadk`c ~bac`kxbzd~q+ Dko or`l~co

    akdcaki c`zio edukh`xadkw aw xbo

    Izdyxb bac`kxbzd~q Koxydzfw Wdga`c

    Al~`gx Orgb`kio# ` gddzhak`xoh oeedzx

    xd juach ` k`xadk`c l`zfox~c`go de

    izdyxb g`~ax`c edz kdk~zdeaxw+ Xbo Kdk,

    ~zdeax Eak`kgo Eukh# ` xbazxq,qo`z dcheak`kga`c akwxaxuxadk edz gdllukaxq

    dzi`ka}`xadkw# gdkxakuow xd ~uwb koy

    eukhaki aho`w# ow~oga ccq yaxb axw xbduibx,co haki ydzf dk ~bac`kxbzd~ag

    opuaxq+ @ xbazh or`l~co# xbo Wdga`c Al~`gx Jdkh# aw koy xddc ~adkoozoh

    jq xbo _F idozklokx xb`x aw ` ~dxokxa`c wduzgo de koy g`~ax`c edz

    kdk~zdeaxw+

    Eak`ccq# `kh ~dxokxa`ccq xbo ldwx al~dzx`kx edz xbo cdki xozl# wl`ccakhaahu`c hdkdzw `zo joiakkaki xd holdkwxz`xo xb`x xboq g`zo ldzo

    `jdux yb`x b`~~okw yaxb xboaz eukhw xb`k xboq hd `jdux xbo edzl ak

    ybagb xbdwo eukhw `zo uwoh+ Ak dxboz ydzhw# xboq g`zo ldzo `jdux l`faki

    ` haeeozokgo xb`k xboq hd `jdux dzi`ka}`xadk`c edzl# x`r orol~xadkw# dz

    iz`kxaki ozwuw akowxaki+ Dko or`l~co aw Xbo @yowdlo Edukh`xadk# `

    war,gaxq koxydzf de iaaki gazgco,xq~o eukhozw "xok ~`zxaga~`kxw iao

    (0>> o`gb xb`x edguwow dk l`faki ldkxbcq (0#>>> `y`zhw+ Ax aw `ikdwxag

    zoi`zhaki kdk~zdeax dz gdllozga`c wx`xuw de xbo eukhoh ~zdmogx+ Walac`zcq#Fagfwx`zxoz# ` eukhz`awaki ~c`xedzl xb`x or~ozaokgoh or~cdwao izdyxb ak

    :>0># zo`hacq larow kdk~zdeax kh gdllozga`c d~~dzxukaxaow dk xbo waxo+

    Gdkwdcah`xadk de dkcako iaaki l`zfoxw

    @x c`wx gdukx xbozo yozo ldzo xb`k xyd bukhzoh kdk~zdeax dkcako iaaki

    waxow `zdukh xbo icdjo+ Ldwx de xbowo `zo puaxo wl`cc `kh edguwoh dk `

    w~ogaeag iodiz`~bq "Boc~@ziokxak` dz wocogx ~d~uc`xadk "M Iddhozw edz

    Moyawb g`uwow+ Xbowo kdk~zdeax iaaki l`zfoxw b`o oeeogxaocq or~ozaokgoh

    EDZOG@WXAKI :>00 09

    Wl`cc akhaahu`c hdkdzw `zo joiak,

    kaki xd holdkwxz`xo xb`x xboq g`zo

    ldzo `jdux l`faki ` haeeozokgo

    xb`k xboq hd `jdux dzi`ka}`xadk`c

    edzl# x`r orol~xadkw# dz iz`kxaki

    ozwuw akowxaki+

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    xboaz hdx gdl jddl+ Yo yacc kdy or~ozaokgo ` gdzzow~dkhaki juwx+

    Xbo g`~ax`c xd wu~~dzx xyd bukhzoh iaaki l`zfoxw aw wal~cq kdx ``ac,

    `jco+ Wdlo de xbo orawxaki iaaki l`zfoxw yacc wbux hdyk `kh dxbozwyacc lozio+

    Ak `hhaxadk xd g`~ax`c gdkwxz`akxw# `k

    akxozowxaki u~wx`zx dk xbo wgoko# Fagf,

    wx`zxoz# ~dwow koy gb`ccokiow xd xbo

    orawxaki l`zfox~c`gow+ Fagfwx`zxoz zocaow

    dk akhaahu`cw xd ~dwx xboaz dyk ~zdmogxw#

    co`h xboaz dyk eukhz`awaki oeedzxw# `khw~zo`h xbo ydzh `jdux xbo ~zdmogx `kh

    xbo waxo xd xboaz ezaokhw+ ^zdmogxw l`q jo kdk~zdeax dz edz,~zdeax# `kh `cc

    xbo juzhokw de xb`x zo~dzxaki e`cc xd xbo ~ozwdk cawxaki xbo ~zdmogx+ Fagf,

    wx`zxoz x dkgo dahw cc xbo gdl~ca`kgo kh wduzgaki gdwxw xb`x xbo dxboz

    waxow luwx jo`z+ Ax aw juacx yaxb xbo k`xao }oaxioawx de ` wdga`c koxydzf kh

    axw izdyxb b`w jook ~bokdlok`c , (:> laccadk ak eukhw ezdl ldzo xb`k

    :?>#>>> akhaahu`cw ak coww xb`k dko qo`z+

    Muld# ` koy wdga`c koxydzfaki waxo edguwoh dk wdga`c g`uwow# c`ukgboh

    muwx ak xalo edz xbo :>0> iaaki wo`wdk+ Axw gzohokxa`cw akgcuho xbo

    akdcolokx de Gbzaw Buibow# `k o`zcq E`gojddf ol~cdqoo `kh co`hoz

    de ^zowahokx Dj`l`w wdga`c koxydzf wxz`xoiq huzaki xbo :>>2 ^zowa,

    hokxa`c g`l~`aik+ G`uwow# gdl~`kq xb`x e`gacax`xow iaaki dk E`gojddf#

    z`awoh ldzo xb`k (2 laccadk ak okxuzo g`~ax`c ak :>0>+ E`gojddfw dyk

    ak,koxydzf guzzokgq "Gzohaxw ybagb cox uwozw ~`q edz xbakiw#

    akgcuhaki iaexw# dk xbo waxo `cwd izoy waikaeag`kxcq huzaki xbo qo`z+

    Xbozo zo xyd al~dzx`kx gdkwopuokgow de xbo gdkwdcah`xadk xb`x A ~zohagx+

    Eazwx# xbozo yacc wal~cq jo eoyoz ~c`gow edz kdk~zdeaxw xd jo edukh dkcako+

    Xbaw yacc jokoeax wdlo izdu~w ybaco dxbozw `zo cafocq xd cdwo dux+ Eoyoz

    ~c`xedzlw l`q lo`k coww d~~dzxukaxq xd eo`xuzo wl`cc dzi`ka}`xadkw#

    ukcoww xboq `zo woce,wgzookoh `kh woce,~zdldxoh `w aw xbo g`wo yaxb xbo

    ~zdmogxw dk Fagfwx`zxoz "`kh cafocq dk Muld+ Wl`cc dzi`ka}`xadkw `kh

    xboaz wu~~dzxozw yacc b`o xd x`fo dk xbo gdwxw de ioxxaki cawxoh kh de

    02 ^bac`kxbzd~q `kh Wdga`c Akowxaki

    Xbo xogbkdcdiag`c g`~`gaxq edz `kh

    gucxuz`c or~ogx`xadk de ezoo `kh

    d~ok h`x` akgzo`wow xbo ~ujcag

    or~ogx`xadk `jdux `ggowwajacaxq

    ybaco h`l~okaki xbo yaccakikoww

    xd ~`q edz ax+

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    hdaki `cc xbo ~zdldxadk xbolwocow+ @x xbo w`lo xalo# waxow cafo Fagf,

    wx`zxoz# Muld `kh E`gojddf l`q l`fo ax o`waoz xb`k ooz edz wl`cc

    dzi`ka}`xadkw xd zo`gb c`zio kuljozw de waxo uwozw+

    Wogdkh# xbo wbzakfaki de xbo dkcako iaaki l`zfoxw yacc cafocq jo

    lazzdzoh ak ` gdkwdcah`xadk de dkcako h`x` wduzgow+ Xbozo `zo kdy xyd

    c`zio,wg`co dkcako h`x` wduzgow# Xbo Edukh`xadk Gokxoz `kh IuahoWx`z+

    Gb`zaxq K`ai`xdz aw `k `hhaxadk`c yahocq zogdika}oh wduzgo# `cxbduib

    ax aw waikaeag`kxcq wl`ccoz xb`k xbo dxboz xyd+ Xbowo h`x` ~zdahozw `czo`hq

    e`go waikaeag`kx gb`ccokiow xd xboaz juwakoww ldhocw+ @gpuazaki# gco`kaki#

    wxdzaki# `kh ~zowokxaki h`x` zopuazo waikaeag`kx gdwxw yaxb kd ~zdokwuwx`ak`jco zookuo ldhocw xb`x hd kdx akgcuho c`zio ~bac`kxbzd~ag

    wujwahaow+ @x xbo w`lo xalo# xbo xogbkdcdiag`c g`~`gaxq edz `kh gucxuz`c

    or~ogx`xadk de ezoo `kh d~ok h`x` akgzo`wow xbo ~ujcag or~ogx`xadk

    `jdux `ggowwajacaxq ybaco h`l~okaki xbo yaccakikoww xd ~`q edz ax+ Xbozo

    aw cy`qw xbo gb`kgo xb`x xbo ~ujcag iokgaow zow~dkwajco edz xbo h`x` yacc

    d~ok ax u~ edz ezoo `kh xb`x gzdyhw yacc l`fo wokwo de ax ak y`qw orawxaki

    dzi`ka}`xadkw g`kkdx+ Ldzo cafocq aw xb`x wo`zgb gdl~`kaow yacc ~`zxkoz

    yaxb ~ujcag `iokgaow xd c`ukgb koy xq~ow de `ggoww xd xbaw akedzl`xadk#muwx `w Iddico b`w `czo`hq hdko yaxb h`x` ezdl Xbo Ydzch J`kf+

    Xbo jddl xalo edz xbowo dkcako wduzgow aw jobakh uw+ Yo yacc woo wb`fo

    dux ak xbo kuljoz de h`x` ~uzoqdzw `cdki yaxb xbo gdkwdcah`xadk ak

    dkcako iaaki l`zfoxw+ Xbaw l`q yocc jo ldzo oeeagaokx+ Ybaco yo laibx

    kdx zo`gb xbo ~dakx de b`aki ` wakico hdlak`kx dkcako l`zfox# yo yacc

    woo eoyoz doz`cc+ Xbdwo xb`x zol`ak l`q jo `jco xd deeoz wozagow wugb

    `w akxoiz`xadk yaxb dkcako j`kfaki# yoj,j`woh ldkoq l`k`iolokxxddcw# `kh wdga`c koxydzfw+ Hdkdzw ybd uwo xbowo ~c`xedzlw yacc b`o

    eoyoz gbdagow de wozago ~zdahozw `kh eoyoz wduzgow de akho~okhokx

    akedzl`xadk+ Azdkag`ccq# xboq cwd l`q b`o ggoww xd ooz ldzo z`y h`x`+

    Xbo akxozwogxadk de iaaki `kh wdga`c akowxaki

    A woo iaaki `kh wdga`c akowxaki `w xyd hawxakgx edzlw de g`~ax`c edz

    wdga`c iddh+ O`gb aw ak ` haeeozokx wx`io de xbo akhuwxzq caeogqgco+

    EDZOG@WXAKI :>00 01

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    :> ^bac`kxbzd~q `kh Wdga`c Akowxaki

    Iaaki hdk`xadkw ezdl akhaahu`cw `kh akwxaxuxadkw aw ` l`xuzo

    wqwxol# yaxb owx`jcawboh xz`gfaki logb`kawlw# `kku`c gdukxw# `kh

    dkcako xddcw+ Xbo c`wx xyd qo`zw b`o jook wx`ik`kx ak xozlw de koy g`~ax`cak xbaw wogxdz+ Kdk~zdeax dkcako iaaki ~c`xedzlw waxow xb`x ccdy hdkdzw

    xd ~agf `kh gbddwo `kh xbok xd hdk`xo dz cd`k eukhw b`o ~zdcaeoz`xoh

    doz xbo c`wx hog`ho# ybaco wdga`c akowxdzw b`o qox xd c`ukgb ` ~ujcagcq

    `ggowwajco# eukgxadk`c akowxaki orgb`kio+

    @x xbo w`lo xalo# wdga`c edz,~zdeax juwakowwow `kh akowxdzw `zo ioxxaki

    xboaz lo`wuzolokx wqwxolw hdyk+ Muwx `w gocc ~bdkow co`~ezdiioh doz

    c`kh,cakow ak wdlo ~`zxw de xbo ydzch# wdga`c akowxaki aw mul~aki ~`wxwdlo de xbo wogxdz gb`ccokiow xb`x b`o cdki hdlak`xoh xbo kdk,

    ~zdeax$~bac`kxbzd~ag wogxdz+ W~ogaeag`ccq# ak muwx xbzoo qo`zw wdga`c akowxdzw

    b`o hoocd~oh# ~acdxoh# `kh juacx hawxzajuxadk logb`kawlw edz ` gdlldk

    wox de zo~dzxaki wx`kh`zhw xd xz`gf xbo oeeogxaokoww kh wdga`c duxgdlow

    de xboaz akowxlokxw+ Lo`kybaco# kdk~zdeaxw kh edukh`xadkw `zo hog`how

    akxd `ziulokxw `jdux duxgdlo lo`wuzolokxw yaxb caxxco xd wbdy edz ax

    dk ` wogxdz,yaho wg`co+

    Ybaco xbowo xyd g`~ax`c wqwxolw `zo hawxakgx# xboq dexok akxozwogx+ Xbowo

    akxozwogxadkw g`k dgguz `x xbo dzi`ka}`xadk`c cooc# ybozo ` wakico kdk,

    ~zdeax aw uwaki jdxb fakhw de g`~ax`c+ Xbo akxozwogxadkw `cwd l`xxoz xd

    hdkdzw# ybd `zo akgzo`wakicq edguwoh dk l`faki xbo izo`xowx haeeozokgo

    yaxb xboaz eukhw `kh `zo akxozowxoh ak uwaki ` jcokhoh `~~zd`gb de

    akowxaki kh iaaki xd ggdl~cawb xboaz id`cw+ Yo cwd woo k akgzo`waki

    kuljoz de akhaahu`cw `kh dzi`ka}`xadkw `gxaocq x`faki dk xbo zdco de

    jdxb hdozw kh hdkdzw# ak jdxb xbo kdk~zdeax iaaki kh edz,~zdeaxwdga`c akowxaki ydzchw+ Edz or`l~co# jdxb J C`j# ybagb gzo`xoh xbo J

    Gdz~dz`xadk# `kh xbo bdwxw de xbo WdG@^ gdkeozokgow `zo kdk~zdeaxw

    edguwoh dk akgzo`waki wdga`c akowxaki+ :>00 yacc jo hoeakoh jq xbo

    izdyxb de wdga`c akowxaki# wl`cc zojdukh ak iaaki# kh xbo gdkxakuoh

    koidxa`xadk de xbo akxozwogxadkw joxyook xbo xyd+

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    :0

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    :: ^bac`kxbzd~q `kh Wdga`c Akowxaki

    :>00 YACHG@ZHW

    Ak `hhaxadk xd akkd`xadkw xb`x l`xxoz `kh xzokhw ydzxb y`xgb,

    aki# xbozo `zo wooz`c :>00 hogawadkw `kh awwuow yo g`k woo dk

    xbo bdza}dk jux ybdwo duxgdlo kh al~`gx dk ~bac`kxbzd~q kh

    wdga`c akowxaki `zo `kqxbaki jux ~zohagx`jco+ Xbowo akgcuho=

    Xbo wx xuw de xbo owx`xo x`r aw wxacc ukgozx`ak bo`haki akxd xbo

    c`lo hugf wowwadk de Gdkizoww `x xbo okh de :>0>+ Ae kdxbaki aw

    hdko# xbo x`r zoozxw xd axw ~zo,:>>0 coocw+

    Xbo Dj`l` `hlakawxz`xadk c`ukgboh xbo Deeago de Wdga c

    Akkd`xadk `kh Gaag ^`zxaga~`xadk ak :>>1+ Xbaw deeago akecuokgoh

    doz (:>> laccadk de iaaki ak :>0> jux axw eukhaki edz :>00 aw

    ukgozx`ak+

    Gdkizowwadk`c ~dcagq y`xgbozw `kxaga~`xo xb`x x`r zoedzl

    yacc jo foq akxozowx de xbo Wok`xo Eak`kgo Gdllaxxoo ak :>00+

    Xbaw gduch akgcuho gcdwo gdkwahoz`xadk de x`r orol~xadk `kh

    hohugxadkw+

    Xbo ogdkdlag ~agxuzo bo`haki akxd :>00 aw kdx `x cc gozx`ak+

    Edzogcdwuzow# ukol~cdqlokx# `kh xaibx gzohax gdkxakuo xd~c`iuo gdllukaxaow `gzdww xbo gdukxzq+ Wx`xo `kh lukaga~`c

    juhioxw `zo wxzoxgboh joqdkh g`~`gaxq# `kh ~ujcag eukhaki edz

    bul`k wozagow kh ohug`xadk zo ~`zxaguc`zcq wb`fq+

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    :>00 YACHG@ZHW :7

    Ook w wdga c juwakowwow owx`jcawb xbolwocow `w coiaxal`xo

    wduzgow de iddh# wdlo `zo`w ybozo juwakoww b`w owx`jcawboh `

    jo`gbbo`h ak ~zdahaki xz`haxadk`ccq kdk~zdeax iddhw `zo

    ukhoz akxokwo wgzuxakq+ Ak ~`zxaguc`z# edz,~zdeax gdccoiow b`o

    i`zkozoh ` izo`x ho`c de koi`xao loha` `xxokxadk# zoiuc`xdzq

    puowxadkaki# `kh coiawc`xao akpuazq+ Xbo e`acuzo de ~za`xo okxoz,

    ~zawo xd ~zdaho w`xawe`gxdzq wdga`c iddhw ak baiboz ohug`xadkl`q yocc g`wx hdujx "dz akgzo`wo xbo gdkgozkw de xbo `czo`hq

    wfo~xag`c! `jdux xbo xzuo ~dxokxa`c de wdga`c juwakowwow+

    Or~ozalokxw ak wdga c eak`kgo `zo ydzxb y`xgbaki# ~`zxagu,

    c`zcq xbo Kdk~zdeax Eak`kgo Eukhw ydzf dk ~bac`kxbzd~ag opuaxq

    ak kdk~zdeax dzi`ka}`xadkw kh wdga`c al~`gx jdkh xb`x aw joaki

    xowxoh ak xbo _kaxoh Fakihdl+ Xbowo `kh dxboz koy akaxa`xaow

    l`q boz`ch ` koy oz` de eak`kga`c akkd`xadk `kh izo`xoz dzi ,ka}`xadk`c wuwx`ak`jacaxq edz kdk~zdeaxw+

    Oljohhoh iaaki " cwd fkdyk w g`uwo l`zfoxaki!# ak ybagb

    ` gdkwuloz `hhw ` kagfoc dz ` hdcc`z edz gb`zaxq `x xbo gbogfdux

    gdukxoz# yacc ~ozlo`xo zox`ac w`cow jq :>00+ Xbozo `zo xyd

    gdkecagxaki edzgow xb`x yacc wb`~o bdy xbaw izdyw= dk xbo dko

    b`kh l`kq guwxdlozw `zo xazoh de joaki `wfoh edz hdk`xadkw

    `x xbo zoiawxoz+ Dk xbo dxboz b`kh xboq wx`xo ~zoeozokgow edz~zdhugxw l`ho jq gdl~`kaow xb`x hd iddh+

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    :>0> ZOUOK_O XD XBO WDGA@C WOGXDZ @KH :>00

    ^ZOHAGXADKW

    Bo`haki akxd :>00 xbo puowxadk dk oozqdkow lakh aw bdy zookuo edz

    xbo wdga`c wogxdz yacc gdl~`zo xd ~zoaduw qo`zw+ Zookuo edz xbo wdga`cwogxdz gdlow ezdl xbzoo ~zal`zq wduzgow= xbo ~ujcag wogxdz ak xbo edzl

    de idozklokx gdkxz`gxw `kh iz`kxw6 ~bac`kxbzd~q# akgcuhaki edukh`xadkw#

    gdz~dz`xadkw# jopuowxw# `kh akhaahu`c iaaki6 `kh wdga`c akowxaki+

    Owwokxa`ccq# :>0> iaaki `kh ~ujcag eukhaki yacc jdxb jo hdyk gdkwah,

    oz`jcq ezdl :>>2 coocw+ Xbozo aw cafocq xd jo izdyxb ak wdga`c akowxlokx

    eukhw# xbduib xbowo hdcc`zw `zo wxacc gdl~`z`xaocq wl`cc+

    A jzo`f hdyk lq ~zohagxadkw `cdki xbowo xbzoo cakow# edguwaki dk xboc`ziowx e`gxdzw yaxbak o`gb wduzgo+ Ak o`gb de xbo xbzoo wogxdzw# xbozo aw

    dexok ` war xd oaibxook ldkxb c`i xalo joxyook `gxadk `kh zo~dzxw dk

    `gxu`c zookuo+ @gxu`c h`x` dk ~bac`kxbzd~ag iaaki ak :>0> yacc kdx jo

    ``ac`jco ukxac Muko# :>00+ Xbdwo kuljozw yacc jo zoawoh `i`ak `x xbo

    okh de :>00 `kh ak xbo lahhco de :>0:+

    Joedzo haaki akxd xbo kuljozw ldzo hoo~cq# ax aw uwoeuc xd b`o ` wokwo

    de xbo eukhaki wduzgow edz @lozag`k kdk~zdeaxw+ Xbo _zj`k Akwxaxuxo b`w

    :8 ^bac`kxbzd~q `kh Wdga`c Akowxaki

    8

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    ahokxaeaoh xbo `oz`io jzo`fhdyk de zookuo jq wduzgo `w o`zkoh

    akgdlo "81+9 ~ozgokx# idozklokx iz`kxw `kh gdkxz`gxw ":9+8 ~ozgokx#

    ~za`xo gdkxzajuxadkw "0>+8 ~ozgokx# akowxlokx akgdlo "5+1 ~ozgokx`kh dxboz "?+? ~ozgokx+2

    Yo edguw xbo edccdyaki hawguwwadk dk

    iaaki# ~ujcag eukhw# `kh wdga`c

    akowxaki+ Iaok xbo h`x` yo b`o `w

    xbaw Jcuo~zakx idow xd ~zoww# A ~zohagx

    xbo edccdyaki edz :>00=

    Iaaki yacc jo ec x dz hdyk ak :>0>

    ezdl :>>1# jux wcaibxcq u~ ak :>00+

    ^ujcag eukhw edz kdk~zdeaxw x jdxb

    eohoz`c kh wx`xo coocw yacc jo hdyk

    ak :>006 l`kq de xbo ~ujcag wduzgow

    de eukhw edz kdk~zdeaxw ak :>>1

    yozo dko,xalo wbdxw `kh wx`xo

    juhioxw b`o jook hogal`xoh+

    Wdga c akowxaki hdcc`zw `zo cafocq xd

    izdy ak :>00# jux xbo doz`cc

    `ldukx yacc zol`ak wl`cc+

    ^ujcag ldkoq

    Wx`xo juhiox guxw ho`wx`xoh kdk~zdeaxw

    ak :>0>+ @gzdww xbo gdukxzq# edzxq,war wx`xow wxzuiicoh xd eacc guluc`xao

    (01? jaccadk juhiox wbdzxe`cc ybok ~c`kkaki edz eawg`c qo`z :>00+1 Dk`oz`io# xboaz :>0> juhioxw yozo 7 ~ozgokx wl`ccoz xb`k ak :>>1# ybok xbo

    juhioxw yozo 2+8 ~ozgokx wl`ccoz xb`k :>>2+0> Edzxq,eao de xbo edzxq,war

    wx`xow eaccoh xboaz juhiox i`~ jq guxxaki wozagow xd wx`xo zowahokxw+

    @ggdzhaki xd xbo Gdkizowwadk`c Zowo`zgb Wozago# idozklokx ~`qlokxw

    "gdkxz`gxw `kh iz`kxw# eohoz`c `kh wx`xo gdkwxaxuxo :1 ~ozgokx de

    kdk~zdeax juhioxw+ Xbo eukhaki guxw oaxboz gdlo hazogxcq dux de

    ~`qlokxw xd xbo kdk~zdeax wogxdz dz yakh u~ ~c`gaki `hhaxadk`c juzhokw

    :>0> ZOUOK_O XD XBO WDGA@C WOGXDZ @KH :>00 ^ZOHAGXADKW :?

    Kdk~zdffxzookuowduzgow

    Xdx`c zookuoedz kdk~zdffxw=

    (0+0XO`zkoh akgdlo= 81+9/

    Idozklokx iz`kxw% gdkxz`gxw= :9+8/

    ^za`xo gdkxzajuxadkw= 0>+8/

    Akowxlokx akgdlo= 5+1/

    Dxboz akgdlo= ?+?/

    Wduzgo=Xbo _zj`k

    Akwxaxuxo#:>>2

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    dk xbo kdk~zdeax wogxdz ybok ~ujcag `iokgaow g`k kd cdkioz loox

    gdllukaxq koohw+

    C`wx qo`z yo kdxoh xbo al~dzx`kgo de eukhaki ezdl xbo @lozag`k

    Zogdozq `kh Zoakowxlokx @gx "@ZZ@ de :>>1+ Xbaw @gx# gdlldkcq

    fkdyk `w xbo Wxalucuw ^`gf`io# `uxbdza}oh koy hdcc`zw xbzduib

    gdkxz`gxw# iz`kxw# `kh cd`kw+ @ggdzhaki xd ^zd^ujcag`# `k akho~okhokx

    koyw dzi`ka}`xadk# `w de Kdoljoz :# :>0># 10 ~ozgokx de xbowo eukhw

    "(858 jaccadk de (?00 jaccadk b`h jook w~okx dz yozo ak xbo ~zdgoww de

    joaki w~okx jq xbo howaik`xoh ~ujcag `iokgaow+00

    Bdy lugb de xbo @ZZ@ ldkoq idow xd kdk~zdeaxw aw ukgco`z+ Dko

    y q xd owxal`xo xbaw aw xd orxz`~dc`xo ezdl h`x` dk iz`kxw `kh gdkxz`gxw

    xd kdk~zdeaxw ezdl iokoz`c eohoz`c w~okhaki+ @ggdzhaki xd xbo ^oy

    Gb`zax`jco Xzuwxw WujwahqWgd~o ~zdmogx# ak :>>2# 2 ~ozgokx de eohoz`c

    idozklokx iz`kxw yokx xd kdk~zdeaxw `kh 7 ~ozgokx de eohoz`c idozk,

    lokx gdkxz`gxw yokx xd kdk~zdeaxw+0: Xbo zol`akhoz idow xd gdllozga`c

    gdl~`kaow `kh xd wx`xo `kh cdg`c idozklokx `iokgaow+

    _waki xbdwo w`lo z`xadw `i`akwx xbo @ZZ@ eukhw# A owxal`xo ` xdx`c de

    (?5 jaccadk y`w ``ac`jco edz kdk~zdeax gdkxz`gxw `kh iz`kxw+ De xbaw# (?0

    jaccadk b`w jook w~okx dz aw ak ~zdgoww+ Xbowo `zo ozq zduib kuljozw+

    Ybaco al~zowwao ak wgd~o# xbo (?0 jaccadk aw coww xb`k dko,xbazh de xbo

    hogzo`wo ak wx`xo juhioxw+ Ax aw `cwd ` wl`cc ~`zx de xbo kdk~zdeax wogxdzw

    gdccogxao (0+0 xzaccadk ak `kku`c zookuo+07

    Loha` `xxokxadk dk ~ujcag eukhaki gokxozoh dk xbo Wdga`c Akkd`xadkEukh "WAE `kh xbo _+W+ Ho~`zxlokx de Ohug`xadkw A7 eukhaki+ Ak Mucq

    :>0># xbo Gdz~dz`xadk edz K`xadk`c `kh Gdllukaxq Wozago `y`zhoh

    (?> laccadk ak eohoz`c WAE eukhw xd ocook dzi`ka}`xadkw `zdukh xbo

    gdukxzq+ Xbowo ocook dzi`ka}`xadkw# ` lar de kdk~zdeaxw `kh edukh`xadkw#

    yacc l`xgb xb`x (?> laccadk yaxb `k `hhaxadk`c (0?> laccadk ak ~bac`k,

    xbzd~ag `kh gdz~dz`xo wu~~dzx edz akkd`xao# wg`c`jco dzi`ka}`xadkw

    ydzfaki yaxb qduki ~od~co# juachaki bo`cxbq gdllukaxaow# `kh gzo`xaki

    ogdkdlag d~~dzxukaxq+ @x co`wx xyd de xbo wocogxoh dzi`ka}`xadkw# Koy

    :5 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    ^zdeax Akg+ `kh xbo Ohk` LgGdkkocc Gc`zf Edukh`xadk# b`h lox xboaz

    l`xgbow `kh yozo woofaki `~~cag`xadkw edz zo,iz`kxw jq Dgxdjoz :>0>+

    Ak `hhaxadk# xbo _+W+ Ho~`zxlokx de Ohug`xadk l`ho edzxq,kako iz`kxw

    xdx`caki (5?> laccadk ak eohoz`c eukhw xb`x y`w l`xgboh jq (?>> laccadk

    ak ~za`xo hdk`xadkw+ Xbo eohoz`c A7 eukhw yozo ~`zx de xbo (0> jaccadk

    `ccdg`xoh jq @ZZ@ edz wgbddc zoedzl+ Xbowo eukhw yokx xd kdk~zdeaxw#

    ~ujcag `iokgaow# `kh wgbddc hawxzagxw+ Xbozo aw kd iu`z`kxoo xb`x xbo

    Wdga`c Akkd`xadk Eukh yacc jo zoeukhoh ak :>00# kdz aw ax cafocq xb`x

    xbo Ho~`zxlokx de Ohug`xadk yacc b`o `kdxboz A7 gdl~oxaxadk+

    Eukhw ezdl xbo @ZZ@ wxalucuw# xbo Wdga`c Akkd`xadk Eukh# `kh xbo

    Ho~`zxlokx de Ohug`xadk yozo ldwx cafocq dko,xalo ookxw+ Wx`xow `zo

    cafocq xd gdkxakuo guxxaki juhioxw ak :>00+

    ^bac`kxbzd~q

    Yb`x yacc xbo eak`c kuljozw edz :>0> wbdy4 Bo`haki akxd xbo eak`c

    ldkxb de :>0># ldwx zogokx wuzoqw eakh xbo l`mdzaxq de hdkdzw `zo

    or~ogxaki xd l`akx`ak xboaz cooc de hdk`xadkw ezdl :>>1 dz hogzo`woxboaz iaaki+ Dko wuzoq edukh xb`x xyago `w l`kq @lozag`kw `zo

    ~c`kkaki kdx xd iao xd gb`zaxq xbaw qo`z jog`uwo de xbo ogdkdlq+08

    Lq zoaoy de xbo l`kq orawxaki akhagow `kh hdkdz wuzoqw "`cc de ybagb

    uwo haeeozokx# kdk,gdl~`z`jco loxbdhw ~dakxw xd ` gdkwx`kx dz wcaibxcq

    wl`ccoz cooc de iaaki ak :>0> xb`k ak :>>1+ Xbo qo`z b`w jook eaccoh

    yaxb ookxw xb`x laibx akecuokgo xbo eak`c kuljozw# z`kiaki ezdl xbo

    zol`zf`jco dux~duzaki de wu~~dzx exoz xbo B`axa o`zxbpu`fo ak M`ku`zqxd xbo cakiozaki al~`gx de xbo baib ukol~cdqlokx z`xo+ Ybaco ~dwaxao

    zoxuzkw dk xbo W%^ ?>> l`q jddwx wdlo iaaki# yo `cwd kooh xd

    gdkwahoz xbo oeeogx de xbo dac w~acc dk Iuce Gd`wx gdllukaxaow `kh xbo

    akgzo`wo ak gdz~dz`xo `kh akhaahu`c w~okhaki dk xbo :>0> lahxozl

    ocogxadkw+

    Xbo Edukh`xadk Gokxoz `kh IuahoWx`z ~zdmogxoh u~ xd ` 0> ~ozgokx

    hzd~ ak edukh`xadk iaaki ak :>>1 gdl~`zoh xd :>>2 `kh `kdxboz 0>

    :>0> ZOUOK_O XD XBO WDGA@C WOGXDZ @KH :>00 ^ZOHAGXADKW :9

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    ~ozgokx hogzo`wo ak :>0> gdl~`zoh xd :>>1+0? Xbo haeeozokx wxuhaow de

    akhaahu`c iaaki edz :>0> z`kio ezdl ec`x xd hogcakow de `jdux 7 dz 8

    ~ozgokx doz :>>1+05

    Yaxb `cc xbaw ak lakh# A ~zohagx ` gdkxakuoh hdykxuzk ak doz`cc ~bac`k,

    xbzd~ag iaaki ak :>0> dz `x jowx ` z`xo xb`x wx`qw ec`x yaxb :>>1w cooc+

    :>00 yacc jo xbo o`zcaowx ~dwwajco zoxuzk xd ~dwaxao xozzaxdzq+

    Wdga`c akowxaki hdcc`zw

    Wdga`c akowxaki aw xbo cafocaowx `zo` de izdyxb ak :>00+ @ :>0> wxuhq#

    Ldkoq Edz Iddh# wuzoqoh yo`cxbq akhaahu`cw `kh edukh xb`x ?> ~ozgokxyozo akxozowxoh ak wdga c akowxaki# ook ae xboq b`h kdx hdko ax joedzo+09

    Xbo w`lo zowo`zgb edukh xb`x `cc ~dwwajco wdga`c akowxdzw# ook xbo

    yo`cxbaowx# zo ldwx akxozowxoh ak wl`cc akowxlokx d~~dzxukaxaow# w~ogae,

    ag`ccq xbdwo ak xbo (:?#>>> , (?>#>>> z`kio+ Xbo zowo`zgb ~zdmogxoh xb`x

    xbo gdccogxao akxozowx de `cc ~dwwajco wdga`c akowxdzw gduch jo ydzxb u~

    xd (0:> jaccadk+

    Xbowo akwaibxw `zo foq xd xbo korx wx`io de hoocd~lokx edz wdga`cakowxaki edguwaki dk ~zdhugxw xb`x `xxz`gx wl`ccoz akowxdzw+ Ldwx de

    xbo akkd`xadk xd h`xo ak wdga`c akowxaki b`w x`zioxoh xbo ozq yo`cxbaowx

    woilokxw de xbo ~d~uc`xadk `kh `ggzohaxoh akowxdzw "wugb `w akwxaxuxadkw

    `kh xbdwo yaxb ` ozq baib xbzowbdch de capuah `wwoxw+ Xbaw korx ~b`wo

    yacc jo l`zfoh jq ldzo zox`ac akowxlokx d~~dzxukaxaow xb`x `~~o`c xd

    wl`ccoz edukh`xadkw# akhaahu`cw# `kh# ookxu`ccq# oozqh`q akowxdzw+

    Ak :>00 A `cwd bd~o yo yacc eak`ccq djx`ak gzohajco j`wocako h`x` dk xbo`zaduw wujwogxdzw ak wdga`c akowxaki+ Yo b`h or~ogxoh xd woo wugb `k

    akhor hoocd~ ak :>0>+ Xb`x hah kdx b`~~ok# jux xbo l`xuz`xadk de xbo

    Icdj`c Al~`gx Akowxaki Koxydzf# xbo Ydzch Ogdkdlag Edzulw oeedzx

    xd hoocd~ ` wdga`c okxoz~zawo akhor# `kh ` koy ja,ldkxbcq WdG@^

    zo~dzx dk ho`cw ak xbo wdga`c g`~ax`c l`zfoxw wbduch ~uwb xbaw `cdki+

    :2 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    :>0> ZOUOK_O XD XBO WDGA@C WOGXDZ @KH :>00 ^ZOHAGXADKW :1

    Wdga`c wogxdz woilokxw

    Edzzoeozokgodkcq

    _+W+edukh`xadk`wwowxw=(52:J

    ^zdmogxoh _+W+edukh`xadk^ZAw= (0>J

    @kku`c _+W+~bac`kxbzd~q=(7>7J

    Wdga`cakowxaki~ddc~zdmogxohwa}o= (0:>J

    @gxu`c _+W+edukh`xadk^ZAw= (?J

    Wduzgow= Xbo _zj`k Akwxaxuxo# Xbo Edukh`xadk Gokxoz#LAR L`zfox# Iaaki _W@# J C`j

    J Gdz~w+`kku`czookuo=(:J

    Hdozw

    Hdkdzw(

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    Edzzoeozokgodkcq

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    X

    Lagzdffk`kgocd`kw ak uwo=(5?J

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    kdk~zdeaxw `kh ~bac`kxbzd~q+ Xbo ydzch de wdga`c akowxaki `kh wdga`c

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    g`kx+ Joxxoz lo`wuzow de o`gb de xbo haeeozokx gdl~dkokxw yacc boc~ uw

    xz`gf xbo odcuxadk de xbo wqwxol doz`cc+

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    7> ^bac`kxbzd~q `kh Wdga`c Akowxaki

    J_]]YDZH Y@XGB

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    gdllozga`c `kh kdk~zdeax ~`zxkozw howgzajo

    xbolwocow `w wogxdz `ikdwxag+ Xboq `zo akxoz,

    owxoh ak wdcuxadkw# kdx xbo x`r wx`xuw de xboaz

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    L`zfoxw edz Iddh= Xbaw g`xgb~bz`wo xaow xd,

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    cdww de xbo eukhozw ldkoq yaxb baib wdga`c zoxuzk! xd cd`kw

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    y`wbaki+

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    J_]]YDZH Y@XGB 70

    Gb`zaxq Gdu~dkw= Hawgdukx gdu~dkw deeozoh xbzduib wdga`c

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    loljozwba~ z`xow ezdl cdg`c kdk~zdeaxw+ Xbowo

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    `uhaokgow+

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    g`zw# jafow# xddcw# gcdxbaki# `kh deeago w~`go `zo jddlaki+ Xbo

    wb`zaki ogdkdlq howgzajow xbo okxazoxq de xbowo g`z,wb`zo

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    ldkoq kh woo xboaz w`akiw w iddh edz wdgaoxq+

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    ( (

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    ICAL^WOW DE XBO E_X_ZO

    Xbozo aw dko foq haeeozokgo# `kh dko foq gbdago# xb`x oozq ~bac`kxbzd~awx

    `kh wdga`c akowxdz yacc l`fo wdloxalow hocajoz`xocq# wdloxalow jq

    edzgo de b`jax ezdl :>00 dky`zh+ Xbo gbdago gdlow hdyk xdwu~~dzxaki l`zfox,j`woh wdga`c iddh ~zdahozw dz hdk`xaki xd kdk~zdeaxw+

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    7: ^bac`kxbzd~q `kh Wdga`c Akowxaki

    ?

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    Hdkdzw l`q gbddwo kdx xd l`fo akowxlokxw ak eak`kga`ccq wuwx`ak`jco

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    ` cako`z e`wbadk+ Ax aw ~dwwajco xb`x xbo ldwx al~dzx`kx edzgo ak wb`~aki

    ~bac`kxbzd~q joqdkh :>00 aw kdx ook qox awajco dk xbo bdza}dk+

    @w yo zoaoy duz c`khwg`~o de ~za`xo eukhaki edz ~ujcag iddh# yo woo

    ` wcdycq wbaexaki xd~diz`~bq+ @kh ax aw o`wq xd cdwo waibx de d~~dzxukaxaow

    dz eakh xbo gbdagow dozyboclaki+ Iaaki `kh wdga`c akowxaki `zo

    ydkhozeuc xbakiw+ Eaiuzaki dux bdy xd hd xbol yocc g`k jo ezuwxz`xaki#

    wcdy# akoeeagaokx# kh cdkocq+

    Jcuo~zakx :>00 aw akxokhoh xd boc~ qdu waxu`xo qduzwoce ak xbo c`khwg`~o#

    `w hdozw `kh hdkdzw# akedzl qduz gbdagow# kh akgzo`wo qduz al~`gx+

    ICAL^WOW DE XBO E_X_ZO 77

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    78 ^bac`kxbzd~q `kh Wdga`c Akowxaki

    XBO C@KHWG@^O AK :>00

    Xbo j`wo c`qoz de xbo ~bac`kxbzd~ag c`khwg`~o wxacc wbdyw `cldwx :

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    XBO C@KHWG@^O AK :>00 7?

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  • 8/8/2019 Philanthropy and Social Investing: Blueprint 2011

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    XBO C@KHWG@^O AK :>00 79

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    72 ^bac`kxbzd~q `kh Wdga`c Akowxaki

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    0?Mdbk M+ B okw `kh ^`uc I+ Wgbozawgb# Iaaki ak Xdh`qw Ogdkdlq= Yb`x G`k YoOr~ogx4 Xzuwxw % Owx`xow# M`ku`zq :>>1# ~~ 8:,8?+

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