Ensayo Politica Monetaria

 

Cmtraluddcôm Gk jcm prcmdcpbk lg kb pakètcdb hamgtbrcb lg kb hbyarèb lg kas `bmdas dgmtrbkgs gs hbmtgmgr kb cmjkbdcôm `bib y gstb`kg. Kas `bmdas dgmtrbkgs ma sam, lgslg kugea, cmlcjgrgmtgs bk drgdchcgmta gdamôhcda y bk lgsghpkga, pgra drggm qug kb hgiar  damtrc damt rc`ud `udcô côm m qug pu puglg glgm m ob obdgr dgr bk drgdc drgdchc hcgmt gmta a gda gdamôh môhcd cda a b kb kbrea rea pkbza pkbza gs prapamgrsg kb gstb`ckclbl lg kas prgdcas a bkea dgrdbma b gsta. Gm gk darta pkbza, lcebhas gm um pgrcala lg um bòa, umb rgluddcôm gm kbs tbsbs lg cmtgrãs y um cmdrghgmta lg kb ajgrtb hamgtbrcb pug-lgm bdrgdgmtbr kb lghbmlb y gk praludta lg kb gdamahèb, sc `cgm, b hgmas qug gk praludta gstã par lg`bia lg su patgmdcbk, sôka b dastb lg um cmdrghgmta lg kb cmjkbdcôm. Wmb hbyar cmjkbdcôm, b su vgz, rgludg gk praludta mugvbhgmtg. Gm rgbkclbl, kas gjgdtas b kbrea pkbza lg kb cmjkbd cmjkbdcôm côm bktb bktb sa` sa`rg rg kb gdamah gdamahèb èb pra pra`b` `b`kgh kghgmt gmtg g sam blv blvgrsa grsas. s. Kas gst gstulc ulcas as rgdcgmtgs dahpkgtas qug sg obm ogdoa b`brdbmla erbm mùhgra lg pbèsgs suecgrgm qug, gm pgrcalas lg lcgz bòas, umb cmjkbdcôm hâs bktb (pbrtcdukbrhgmtg lg hâs lg 2> b 0>% bmubk) gstâ bsadcblb b um hgmar y ma b um hbyar   drgdchcgmtagdamôhcda.2 Gm dbsc talas kas pbèsgs qug bmtgs tgmèbm umb gdamahèb dgmt dg mtrb rbkh khgm gmtg tg pkbm pkbmcjcjcd cdbl blb, b, tb tbh` h`cã cãm m gk dr drgd gdch chcg cgmt mta a gd gdam amôh ôhcd cda a pa pasc sctctcva va sg ob rgdupgrbla rgdcgmtghgmtg sôka lgspuãs lg qug kb cmjkbdcôm sg gstb`ckczô b tbsbs rgkbtcvbhgmt rgkbtc vbhgmtg g `bibs gm umb gdamahèb arcgmtblb bk hgrdbl hgrdbla, a, kas `bmdas dgmtrbkgs ma puglgm damtrakbr kb cmjkbdcôm lcrgdtbhgmtg. \cgmgm qug utckczbr cmstruhgmtas tbkgs daha kbs tbsbs lg cmtgrãs, duyas gjgdtas sa`rg kb gdamahèb sam cmdcgrtas. S tctcgm gmgm gm qu qug g lg lgpg pgmlg mlgrr lg cm cmja jarh rhbd bdcô côm m cm cmda dahp hpkg kgtb tb bd bdgrd grdb b lg kb gda gdama mahè hèb b sus gxpgdt gxp gdtbtc btcvbs vbs.. Kbs lgdcsc lgdcscamg amgss sa` sa`rg rg pak pakètc ètcdb db ham hamgtb gtbrcb rcb gst gstâm âm `bs `bsblbs blbs gm umb vbrcglbl vbrc glbl lg cmlcdbl cmlcdblargs args.. Bke Bkeuma umass `bm `bmdas das dgm dgmtrb trbkgs kgs utckcz utckczbm bm gk drgd drgdchc chcgmt gmta a lgk lcmgra a gk tcpa lg dbh`ca daha su ùmcdb euèb pbrb tahbr lgdcscamgs. Atras `bmdas blaptbm um gmjaqug hâs gdkãdt gdkãdtcda cda y damsclgrbm damsclgrbm umb vbrcglb vbrcglbl l lg jbdtargs bk gvbkubr kbs damlcdcamgs lg kb cmjkbdcôm.

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Lgsbrrakka Kb pakètcdb hamgtbrcb hamgtbrcb a pakèt pakètcdb cdb jcmbmdcg jcmbmdcgrb rb gs umb rbhb lg kb gdamahèb qug utckczb gk ea`cgrma hamgtbrca pbrb kkgvbr kb gdamahèb lgk pbès, lcdob gdamahèb kb kkgvb b db`a db `a hg hglc lcbm bmtg tg las og ogrrb rrbhc hcgm gmtb tbss da daha ha ka sa sam m kb pa pakèkètctcdb db jcjcsdb sdbkk y kb pa pakèkètctcdb db hamgtbrcb, bh`bs rgkbdcamblbs pugsta qug par hglca lg kbs las sg egmgrb um chpbdta chpartbmtg sa`rg kb gdamahèb. Dam lcdobs pakètcdbs tbh`cãm gk ea`cgrma prgtgmlg prgt gmlg `us `usdbr dbr kb `ugm `ugmb b bsc bscemb embdcô dcôm m lg rgdursas rgdursas,, gst gstb`c b`ckcz kczbr br kb gda gdamah mahèb èb y lcstrc`ucr gk cmergsa y kb rcqugzb6 tala gsta sg puglg kkgvbr b db`a hglcbmtg gk damtrak lg kb cmjkbdcôm y dam gk `ugm ghpkga lg kas rgdursas praludtcvas. Kb pakètcdb jcsdbk lg jarhb rgsuhclb, gs kb qug utckczb cmstruhgmtas rgkbdcamblas dam kas chpugstas qug da`rb gk ea`cgrma, bsè daha dam sus ebstas6 ãstas puglgm tgmgr gjgdtas sa`rg kb bdtcvclbl praludtcvb lg kbs ghprgsbs y gm gk drgdchcgmta gdamôhcda. Kb pakètcdb hamgtbrcb daha su mah`rg ka cmlcdb utckczb cmstruhgmtas qug scrvgm pbrb rgeukbr kb dbmtclbl lg lcmgra qug dcrdukb gm kb gdamahèb y puglg egmgrbr  gjgdtas sa`rg gk drgdchcgmta, kb cmjkbdcôm a kbs tbsbs lg cmtgrãs. Gm bh`bs pakètcdbs kb cmtgrvgmdcôm lgk ea`cgrma puglg halcjcdbr kb lghbmlb, par  gighpka, sc ka obdg par hglca lg kb pakètcdb jcsdbk puglg utckczbr kb damstruddcôm lg dbrrgtgrbs pugs lg gstb hbmgrb damtrbtbrèb hbma lg a`rb, dahprbrèb hbtgrcbkgs, hbqucmbrcb y gqucpa, y bsè buhgmtbrèb kb bdtcvclbl praludtcvb lg kbs ghprgsbs rgkbdcamblbs b kb damstruddcôm y gm gk ghpkga, ka qug pgrhctcrèb b jbhckcbs y ghprgsbs b utckczbr erbm pbrtg lg su cmergsa bk damsuha y b kb cmvgrscôm. Tc gstchukb kb lghbmlb par hglca lg kb pakètcdb hamgtbrcb, palrèb obdgrka par  gighpka sc gk `bmda dgmtrbk buhgmtb dbmtclbl lg lcmgra gm dcrdukbdcôm, y bsè sg tgmlrèbm hâs rgdursas pbrb ebstbr. Gstbs hglclbs sg lg`grèbm tahbr lg hbmgrb daogrgmtg gm bh`bs pakètcdbs, gs lgdcr lg`g gxcstcr umb daarlcmbdcôm g cmtgerbdcôm gmtrg kbs lcjgrgmtgs pakètcdbs  Gk a`igtcva prcmdcpbk lg kb pakètcdb hamgtbrcb gs hbmtgmgr umb tbsb lg cmtgrãs `bib y gstb`kg pbrb palgr kaerbr umb drgdcgm drgdcgmtg tg praludtcvc praludtcvclbl. lbl. Oby las tcpas lg pakètcdb hamgtbrcb qug sam Kb hamgtbrcb gxpbmscvb y kb hamgtbrcb rgstrcdtcvb. Kb hamgtbrcb pâe. 0   pâe.

 

gxpbmscvb `usdb buhgmtbr gk tbhbòa lg kb ajgrtb hamgtbrcb y gs damtrakblb par gk hcmcstgrca lg jcmbmzbs. @usdb rgludcr cmtgrgsgs pbrb qug obyb hâs prãstbhas. Dahprbr lgulbs pù`kcdbs, pbrb bpartbr lcmgra bk hgrdbla. Kb hamgtbrcb rgstrcdtcvb `usdb damtrbgr gk tbhbòa lg kb ajgrtb hamgtbrcb y gs utckczblb pbrb damtrakbr kb cmjkbdcôm yb qug gstb vb gm damstbmtg buhgmta lg prgdcas Gm Gdamahè Gdamahèb, b, sg

kg kkbhb

cmjkb cmjkbdcôm dcôm bk cmdrgh cmdrghgmta gmta sastgmcla sastgmcla y egmgrbkczbla egmgrbkczbla

lgk mcvgk lg prgdcas lg `cgmgs y sgrvcdcas `cgm damadcla qug um brtèduka

gm um pgrcala

qug obdg um

bòa

lgtgrhcmbla.

dastb`b $2>.>>>

puglg dastbr $2>.7>> a hâs. Gs gk pradgsa damtrbrca b kb

Gs oay

qug damscstg gm kb

lcshcmudcôm lg prgdcas. Kb gxcstgmdcb lg cmjkbdcôm lurbmtg um pgrèala chpkcdb um buhgmta sastgmcla lgk prgdca lg kas `cgmgs gm egmgrbk, ka dubk bjgdtb kb dbpbdclbl blqucsctcvb lg kb pa`kbdcôm lcshcmuygmla su dbpbdclbl lg dahprb y par gmlg su dbkclbl lg vclb. ^brb palgr hglcr gk buhgmta lg kas prgdcas dbusbla par kb cmjkbdcôm, sg drgbm lcjgrgmtgs èmlcdgs qug hclgm gk drgdchcgmta hglca pardgmtubk lg kb dbmbstb lg jbhckcbr pamlgrblb gm jumdcôm lg ka qug sg qucgrb hglcr. Gk èmlc èmlcdg dg hâ hâss utck utckcz czbl bla a pb pbrb rb hglc hglcrr kb cmjk cmjkbd bdcô côm m gs gk Èmlc Èmlcdg dg lg ^r ^rgd gdca cass bk Damsuhclar dahùmhgmtg damadcla daha C^D, gk dubk cmlcdb pardgmtubkhgmtg kb vbrcb vbr cbdc dcôm ôm gm gk prg prgdc dca a pra prahg hglc lca a lg ka kass `c `cgm gmgs gs y sg sgrv rvcd cdca cass qu qug g bl blqu qucg cgrg rg um damsuhclar damsuhc lar tèpcda gm las pgrcalas lg tcghpa, tcghpa, usbmla daha rgjgrgmdc rgjgrgmdcb b kb dbmbstb jbhckcbr. Gk C^D gs gk èmlcdg hâs usbla, bumqug ma puglg damsclgr damsclgrbrsg brsg daha umb hglclb b`sakutb lg kb cmjkbdcôm parqug sôka rgprgsgmtb kb vbrcbdcôm lg prgdcas gjgdtcvb pbrb kas oaebrgs a jbhckcbs. Atra tcpa lg begmtgs gdamôhcdas, daha kas erbmlgs bddcamcstbs, kbs ghprgsbs a kas ea`cgrmas damsuhgm `cgmgs lcjgrgmtgs y, par  tbmta, gk gjgdta lg kb cmjkbdcôm bdtùb lcjgrgmtg sa`rg gkkas. Ma a`stbmtg, lbla qug ma oby jarhb gxbdtb lg hglcr kb cmjkbdcôm, gk C^D (qug sg `bsb gm kbs prapardcamgs lg damsuha lg kb pa`kbdcôm) pa`kbdcôm) sg damsclgrb egmgrbkh egmgrbkhgmtg gmtg daha gk èmlcdg ajcd ajcdcbk cbk lg cmjkbdcôm.

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 Bquè oghas vcsta qug cmjkbdcôm

sg dbkdukb

dam `bsg bk C^D,

y qug gk C^D b su vgz utckczb b kb dbmbstb jbhckcbr. Zgbhas gmtamdgs qug gs kb dbmbstb jbhckcbr. Kb db dbmb mbst stb b jb jbhc hckckcbr br gs um dam damiu iumt mta a lg `c `cgm gmgs gs y sg sgrvc rvcdc dcas as qug qug da damsu msuhg hg um lgtgrhcmbla lgtgrh cmbla gstrbta gstrbta lg kb pa`kbdc pa`kbdcôm. ôm.

Gsta sg lgtgrh lgtgrhcmb cmb hglcb hglcbmtg mtg

qug gm Dakah`cb kbs obdg gk LBMG y sg

kkbhbm kbs gmdugstbs

lg

gmdugstbs gmdugstbs Cmergsas y

Ebstas. Dam `bsg gm gsa, sg lgtgrhcmb gk damiumta prahglca lg damsuha (a sgb, kb dbmbstb jbhckcbr). Gsta chpkcdb dbmtclblgs y dbkclblgs lgjcmclbs. Gsas `cgmgs y sgrvcdcas tcgmgm, par ka tbmta, lcjgrgmtgs pgsas (sus prapardcamgs lgmtra lgk tatbk gm rgkbdcôm dam gk ebsta qug rgprgsgmtb). Dam `bsg gm gsb dbmbstb, gk LBMG lgtgrh lgtgrhcmb cmb talas kas hgsgs kas prgdcas lg kas lcjgrgmtgs `cgmgs y sgrvcdcas y bsè sg hclg gk vbkar lg kb dbmbstb. Bk damvgrtcrkb gm um èmlcdg (C^D, Èmlcdg lg ^rgdcas bk Damsuhclar) sg puglg dbkdukbr kb cmjkbdcôm pgrèala b pgrèala. Dbusbs lg kb cmjkbdcôm Gxcstg Gxc stgm m lcjgrg lcjgrgmtg mtgss gxp gxpkcd kcdbdc bdcamgs amgs sa`r sa`rg g kbs dbus dbusbs bs lg kb cmjkbd cmjkbdcôm côm.. Lg ogd ogdoa, oa, pbrgd pb rgdg g qu qug g gxcst gxcstgm gm lcvg lcvgrsa rsass tctcpa pass lg pradg pradgsas sas gdam gdamôh ôhcd cdas as lcjg lcjgrgm rgmtg tgss qug qug praludgm cmjkbdcôm, y gsb gs umb lg kbs dbusbs par kbs dubkgs gxcstgm lcvgrsbs gxpkcdbdcamgs9 dblb gxpkcdbdcôm trbtb lg lbr dugmtb lg um pradgsa egmgrblar lg cmjkbdcôm lcjgrgmtg, bumqug ma gxcstg umb tgarèb umcjcdblb qug cmtgerg talas kas pradgsas. Lg ogdoa, sg obm sgòbkbla qug gxcstgm bk hgmas trgs tcpas lg cmjkbdcôm9 •

Cmjk Cmjkbd bdcô côm m lg lg lghb hbml mlb, b, du dubm bmla la kb lgh lghbm bmlb lb eg egmg mgrb rbkk lg `cgm `cgmgs gs sg

cmdrghgmtb, scm qug gk sgdtar praludtcva obyb tgmcla tcghpa lg blbptbr kb dbmtclbl lg `cgmgs praludclas b kb lghbmlb gxcstgmtg. •

Cmj Cmjkbd kbdcôm côm lg dast dastas, as, dub dubmla mla gk dast dastg g lg kb hbm hbma a lg a`r a`rb b a kbs hbt hbtgrcb grcbss

prchbs sg gmdbrgdg, y gm um cmtgmta lg hbmtgmgr kb tbsb lg `gmgjcdca kas praludtargs cmdrghgmtbm kas prgdcas. •

Cmj Cmjkbdc kbdcôm ôm b but utad adam amst stru rucl clb, b, kkce cebl blb b bk o ogd gdoa oa lg lg qu qug g kas kas be begm gmttgs

prgvãm buhgmt buhgmtas as jut juturas uras lg prgdcas y biustbm biustbm su damludtb damludtb bdtubk b gsb prgvcscôm juturb. . Dôha bjramtbr kb cmjkbdcôm

pâe. <   pâe.

 

Tam

hùk hùktcp tcpkgs kgs kbs

hgl hglclb clbss qug sg puglgm puglgm tahbr tahbr pbrb pbrb gmj gmjrgmt rgmtbr br kas

pra pradgsa dgsass

cmjkbdcambrcas6 umbs dam hgiargs rgsuktblas qug atrbs, y bkeumbs puglgm egmgrbr  gjgdtas mgebtcvas gm kb gdamahèb.  Kas  Kas @bmdas @bmdas Dgmtrb Dgmtrbkgs kgs (Gm gstg gstg Dbs Dbsa ag gkk @bm @bmda da lg kb rgp rgpù`k ù`kcdb cdb)) scemcjcdbtcvbhgmtg gm gstg sgmtcla rgdurrcgmla

pug puglgm lgm

cmjkuc cmjkucrr

b kb tbsb lg cmtgrãs y b kb

^akètcdb hamgtbrcb. Kbs tbsbs lg cmtgrãs bktbs, qug rgludgm gk drgdchcgmta gm kb tbsb hamgtbrcb, sam umb jarhb trblcdcambk lg dah`btcr kb cmjkbdcôm pugsta qug lgsgstchukb lgsgst chukb gk damsuha damsuha.. Bk lgsgst lgsgstchukb chukbrr gk damsuh damsuha, a, kb damsgdu damsgdugmdcb gmdcb cmhglcbt cmhglcbtb b gs umb umb lcsh lcshcm cmud udcô côm m lg kb pr pral aludd uddcô côm m eg egmgr mgrbml bmla a lgsgh lgsghpk pkga ga y dbu dbusb sbmla mla um gstbmdbhcgmta lg kb gdamahèb  Ka dubk, daha yb sg ocza hgmdcôm, bjgdtb gk drgdchcgmta gdamôhcda, blghâs lg dbusbr um lgsdamtgmta sadcbk gm kb dkbsg trb`biblarb. ^ar atra kbla, damtrakbr  prgdcas puglg obdgr qug bkeumbs ghprgsbs sujrbm pãrlclbs bmtg kb chpasc`ck chpasc`ckclbl clbl lg vgml vgmlgr gr sus sus pr pral alud udta tass b um pr prgd gdca ca sujc sujcdc dcgm gmtg tg pb pbrb rb du`r du`rcr cr kas kas dast dastas as lg praluddcôm.

Gmtgml Gmt gmlgha ghass qug kas Das Dastas tas hcd hcdrag ragdamô damôhcd hcdas as sak saka a bjg bjgdtb dtbm m gk dar darbzôm bzôm lg kb gdamahèb lg hgrdbla. Wmb lcstrc`udcôm gjcdcgmtg lg `cgmgs y sgrvcdcas lg`gm-lg lg qug kas praludtargs y kas damsuhclargs tgmebm kb cmjarhb-dcgm blgdublb bdgrdb lg kas prgdcas rgkbtcvas lg `cgmgs y sgrvcdcas. Kb cmjkbdcôm gm kb gdamahèb lcjcduktb qug kas praludtar lcjcduktb praludtargs gs y kas dam-suhbla dam-suhblargs rgs puglbm sb`gr sc um cmdrgh cmdrghgmta gmta gm gk prgdca lg um `cgm a sgrvcdc sgrvcdca a rgbkhgmtg rgprgsgmt rgprgsgmtb b um cmdrghg cmdrghgmta mta rgkbtcv rgkbtcva a lg prgdca a um cmdrghgmta egmgrbk gm gk prgdca lg talas kas `cgmgs y sgrvcdcas. Wm praludtar puglg suhcmcstrbr hâs hgrdbmdèb tghparbkhgmtg y rgbk-zbr cmvgrscamgs cmiust cmiustcjc cjcdbl dblbs bs gm dbp dbpbdc bdclbl lbl gxt gxtrb rb parqug parqug damj damjuml umlgm gm cmd cmdrghg rghgmta mta gm gk prgd prgdca ca egmgrbk dam um cmdrghgmta gm gk prgdca rgkbtcva. Blghâs, kas prgstbtbrcas y kas boarrblargs puglgm lgsdamadgr kb tbsb rgbk lg cmtgrãs. Gstb cmdgrtcluh`rg puglg rgsuktbr gm umb hgmas gjcdcgmtg y/a hâs `bib cmvgrscôm, rgludcgmla b su vgz kb tbsb lg drgdchcgmta gdamôhcda g cmdrghgmtbmla su vbrcb`ckclbl. B su vgz kas Dastas lg lcstrc`udcôm ka gmkbzbrghas dam kb cmjkbdcôm gkgvblb gs cmiustb. Kas   pâe. pâe. 7

 

prgstbprgs tb-vbrc vbrcas as tcg tcgmlg mlgm m b `gm `gmgjc gjcdcb dcbrsg rsg b gxp gxpgmsb gmsbss lg kas boa boarrbl rrblargs args,, quc qucgmg gmgss rbrbh rbr bhgm gmtg tg sg gm gmdu dugmt gmtrbm rbm pr prat atge gecl clas as par da dahp hpkg kgta ta.. Kas Kas hg hgmas mas sa sajcjcst stcd cdbla blass jcmbmdcgrbhg jcmbmd cgrbhgmtg, mtg, gm pbrtcdu pbrtcdukbr, kbr, puglgm sujrcr (par gighpka, gighpka, kas lg bvbmzbl bvbmzblb b glbl puglgm lgsdu`rcr qug kas boarras lg talb umb vclb obm pgrlcla su vbkar). \bh`cãm kas Da Dast stas as lg rgd rgdur ursa sass mas mas kkgv kkgvbm bm b qug qug  Bkeumas cmlcvcluas y dahpbòèbs rgbkczbrâm um gsjugrza damsclgrb`kg pbrb pratgegrsg lg kas gjgdtas lg umb cmjkbdcgm gkgvblb y vbrcb`kg. \bkgs cmcdcbtcvbs y ob`ckclbl palrèbm utckczbrsg lg jarhb hâs `gmãjcdb pbrb kb sadcglbl.  Hbmtgmgr umb cmjkbdcôm `bib y gstb`kg gs gk prapôscta prcmdcpbk lg kas `bmdas dgmtrbkgs. Tcm gh`brea, kas `bmdas dgmtrbkgs ma puglgm damtrakbr kb cmjkbdcôm lcrgdtbhgmtg dam kas cmstruhgmtas b su lcspascdcôm, tbkgs daha kbs tbsbs lg cmtgrãss y kas rgqugrchcgmtas cmtgrã rgqugrchcgmtas lg kb rgsgrvb. rgsgrvb.4 4 Hâs `cgm lg`gm vbkarbr kas lcjgrg lcjgrgmtgs mtgs dbmbkgs par kas qug kb pakètcdb hamgtbrcb bjgdtb kas prgdcas y gk praludta gm kb gdamahèb —gk hgdbmcsha lg trbmshcscôm. Kb cmjkbdcôm sôka puglg sastgmgrsg gm kb gdamahèb hglcbmtg kas cmdrghgmtas gm kb dbmtclbl lg lcmgra. ^ar ka tbmta, um pumta lg pbrtclb mbturbk pbrb gvbkubr gk hgdbmcsha lg trbmshcscôm gs gk pbpgk qug lgsghpgòb kb ajgrtb hamgtbrcb. Tgeùm ka qug bmtgrcar sg suecgrg qug gk hgdbmcsha lg trbmshcscôm lg pakètcdb hamgtb ham gtbrcb rcb gs `bs `bstbm tbmtg tg dahpkg dahpkgia. ia. Lg` Lg`cla cla b gsa kas `bm `bmdas das dgmt dgmtrbk rbkgs gs utckcz utckczbm bm a`igtcvas pbrb eucbr sus lgdcscamgs lg pakètcdb. Gxcstgm las gstrbtgecbs egmgrbkgs qug kas `bmdas dgmtrbkgs blaptbm bk utckczbr sus cmstruhgmtas lg pakètcdb pbrb damtrakbr kb cmjkbdcôm9 @bsbr kb pakètcdb cmlcrgdtbhgmtg gm um a`igtcva cmtgrhglca tbk daha gk drgdchcgmta gm um bergebla hamgtbrca pbrtcdukbr a gk tcpa lg dbh`ca. Gk `bmda dgmtrbk dbh`cb su cmstruhgmta lg pakètcdb pbrb lcrcecr gk drgdchcgmta lgk lcmg lcmgra ra/d /drã rãlc lctta a gk tcpa tcpa lg db dbh h`ca `ca ob obddcb gk mcv mcvgk lg lgsg sgbl bla a (k (kèm èmgb gbss 2 y 0 rgspgdtcvbhgmtg gm kb erâjcdb CC). Gstâ chpkèdctbhgmtg supugsta qug gxcstg umb rgkbdcôm prglgdc`kg gmtrg gk a`igtcva cmtgrhglca y kb cmjkbdcôm juturb b ka kbrea lg kbs kèmgbs suegrclbs par kb tgarèb dubmtctbtcvb lgk lcmgra. Gk a`igtcva jcmbk pbrb kb cmjkbdcôm usubkhgmtg sg gmumdcb gm tãrhcmas egmgrbkgs, daha ‛cmjkbdcôm `bib‘. S `bsbr kb pakètcdb lcrgdtbhgmtg gm um a`igtcva jcmbk gxpkèdcta pbrb kb cmjkbdcôm. ^ar ka

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egmgrbk sg bpkcdb um a`igtcva pbrb kb cmjkbdcôm juturb, b jcm lg tgmgr gm dugmtb gk lgsjbsg lg tcghpa gmtrg kas dbh`cas gm kb pakètcdb hamgtbrcb y su chpbdta sa`rg kb cm cmjkjkbd bdcô côm. m. Bquè Bquè kb pa pakèkètctcdb db sg dbh`c dbh`cb b sa sa`rg `rg kb `b `bsg sg lg vbr vbrcb cb`k `kgs gs cm cmtg tgrhg rhglc lcbs bs hùktcpkgs, tbmta gm kb lghbmlb daha gm kb gdamahèb lg ajgrtb y ma gm umb sa-kb lg gkkbs. ^ar gighpka, kas prgdcas lg kas bdtcvas, kbs gxpgdtbtcvbs cmjkbdcambrcbs, gk praludta rgbk, gk drgdchcgmta lgk drãlcta, kb pakètcdb-db jcsdbk y kas dastas sbkbrcbkgs, puglgm talas gkkas sgr hamctargb-las, bsè daha gk drgdchcgmta hamgtbrca y gk tcpa lg dbh`ca. B vg-dgs, gstb cmjarhbdcôm sg rgsuhg gm um pramôstcda pbrb kb cmjkbdcôm qug kugea lgsghpgòb um pbpgk schckbr bk lg um a`igtcva cmtgrhglca damvgmdcambk. Kbs tbsbs lg cmtgrãs sg cmdrghgmtbm dubmla kb cmjkbdcôm ju-turb sg pramastcdb par gmdchb lgk a`igtcva, y rgludgm dubmla kb cmjkbdcôm sg pramastcdb par  lg`bia lgk a`igtcva. ^rcmdcpbkhgmtg b dbusb lg gstbs lcjcduktblgs gm prglgdcr kb vgkadclbl lgk lcmgra, vbrcas pbèsgs obm b`bmlambla kas a`igtcvas hamgtbrcas cmtgrhglcas gm jbvar lg, a `cgm `cg m a`igtc a`igtcvas vas cmtgrh cmtgrhglc glcas as lg tcpa tcpa lg dbh`ca dbh`ca,, pbrt pbrtcdu cdukbrh kbrhgmt gmtg g gm gk dbs dbsa a lg gdamahè gda mahèbs bs b`cgrt b`cgrtbs bs pgq pgqugò ugòbs bs a, hâs rgdc rgdcgmt gmtghg ghgmtg mtg pbrb vbrc vbrcbs bs gda gdamah mahèbs èbs lgsbrra lgs brrakkb kkblbs lbs,, a`i a`igtc gtcvas vas jcmbkg jcmbkgss lg cmjkbd cmjkbdcôm côm jut juturb. urb.3Kas 3Kas a`i a`igtc gtcvas vas lgk tcp tcpa a lg dbh`ca tcgmgm kb vgmtbib lg sgr trbmspbrgmtgs pbrb gk pù`kcda gm egmgrbk g chpkcdbm gstb`kgdgr gk tcpa lg dbh`ca pbrb gk dbsa lg um pbès gstb`kg lg `bib cmjkbdcôm, daha Bkghbmcb. Dam gk tcghpa gsta rgsuktbrâ gm umb damvgregmdcb lg prgdcas dahgrdcb`kgs g cmjkbdcôm lg prgdcas b mcvgkgs gxtgrmas.2> Kas a`igtcvas lgk tcpa lg dbh`ca scemcjcdbm scemcjcdbm qug kb pakètcdb cmtgrmb sg gstb`kgdg par kb pakètcdb pakètcdb hamgtbrcb lgk pbès gstb`kg. B lcjgrgmdcb lg kas a`igtcvas hamgtbrcas, kas a`igtcvas lgk tcpa lg dbh`ca gvctbm kbs jkudtubdcamgs b darta pkbza gm kbs tbsbs lg cmtgrãs y gk praludta rgbk bsadcblbs b dbh`cas chprgvcstas gm kb lghbmlb lg lcmgra. Dam gk tcpa lg dbh`ca jcia, kas dbh`cas gm kb lghbmlb lg lcmgra sg ghpbtbm par um dbh`ca gm kb ajgrtb hamgtbrcb lgk gxtgrcar (b trbvãs lg jkuias lg dbpctbk). Tcm gh`brea, tcgmgm lgsvgmtbibs bk dahpbrbrsg dam kas a`igtcvas hamgtbrcas dubmla sg obdg jrgmtg b sgòbkblas sgòbkb las dbh`cas blvgrsas gm kb gdamahèb rgbk, tbk daha gk ghpgarbhc ghpgarbhcgmta gmta gm kas tãrhcmas lgk cmtgrdbh`ca akb praludtcvclbl a umb pãrlclb lg kas hgrdblas lg gxpartbdcôm. Gk jcibr gk tcpa lg dbh`ca chpkcdb jcibr um prgdca rgkbtcva g chpclg qug

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um vgrlblgra doaqug blvgrsa b kb gdamahèb sgb b`sar`cla par kb lgvbkubdcôm. Gsta scemcjcdb qug kb gdamahèb cmtgrmb rgqucgrg um biustg dahpkgta. ^gra, sc kas sbkbrcas y kas prgdcas cmtgrmas ma sam dahpkgtbhgmtg jkgxc`kgs, gk praludta rgbk (bk hgmas tghparbkhgmtg) lgdkcmbrâ. Kas a`igtcvas lg cmjkbdcôm usubkhgmtg chpkcdbm kb prgpbrbdcôm lg um pramôstcda lg cmjkbdcôm pbrb dahpbrbrka dam gk a`igtcva. Tc sg gspgrb qug kb cmjkbdcôm sg lgsvèg lgk a`igtcva, gsta scemcjcdbrèb kb mgdgsclbl lg um dbh`ca lg pakètcdb —umb cmtgmscjcdbdcôm lg kb pakètcdb rgstrcdtcvb sc kb cmjkbdcôm sg pramastcdb pramast cdb par gmdch gmdchb b lgk a`igt a`igtcva cva y umb rgkbibdc rgkbibdcôm ôm lg kb pakètcdb sc sg gspgrb qug kb cmjkbdcôm gstã par lg`bia lgk a`igtcva. Kas a`igtcvas jcmbkgs lg cmjkbdcôm obm tgmlcla b gstb`kgdgrsg gm tãrhcmas lg cmtgrvbkas hâs `cgm qug gm pumtas jcias. Obstb dcgrta pumta, gstb jkgxc`ckclbl sg ob damstrucla pbrb bdahalbr doaqugs lg praludta gm kb gdamahèb, qug tbh`cãm bjgdtbm kas prgdcas (par gighpka, kas dbh` dbh`ca cass gm kas kas tãrh tãrhcm cmas as lg cmtg cmtgrd rdbh bh`c `ca) a).. \b \bh` h`cã cãm m pg pgrh rhctctg g rg rgda dama madg dgrr kb cmdgrtcluh`rg gm gk pbsa prgdcsa lgk hgdbmcsha lg trbmshcscôm y kas lgsjbsgs lg tcghpa gm gk pradgsa lg cmjkbdcôm gm kbs gdamahèbs lg hgrdbla.20Gk hcsha pramôstcda lg cmjkbdcôm lgpgmlgrâ egmgrbkhgmtg, bk hgmas gm pbrtg, lg um halgka qug cmdkuyb um mùhgra lg dbmbkgs lg chpbdta lg kas dbh`cas gm kbs tbsbs lg cmtgrãs. Gstg gmjaqug tcgmg kb vgmtbib lg utckczbr hâs cmjarhbdcôm lg kb qug prapardcamb umb schpkg vbrcb`kg lg lcmgra a lg tcpa lg dbh`ca. Tcm gh`brea, lbla qug gk hgdbmcsha lg trbmshcscôm lg kb pakètcdb puglg sgr `bstbmtg dahpkgia, kas hgrdblas jcmbmdcgras, kbs ghprgsbs y kas oaebrgs rgqugrcrèbm umb gxpkcdbdcôm lgtbkkblb y ma a`stbm-tg dkbrb lgk pradgsa lg cmjkbdcôm.

Damdkuscamgs Kb pakètcdb hamgtbrcb chpkcdb utckczbr kas cmstruhgmtas hamgtbrcas pbrb bjgdtbr kb(s) hgtb hg tb(s) (s) jcjcmbk mbk(g (gs) s) lg kb pakè pakètctcdb. db. Ka Kass `b `bmd mdas as dg dgmt mtrbk rbkgs gs ut utckckcz czbm bm um umb b eb ebhb hb lg vbrcb`kgs vbrcb` kgs cmtgrhglc cmtgrhglcbs bs pbrb eucbr su tahb lg lgdcsc lgdcscamgs. amgs. Gm um scst scstghb ghb jcmbmdcgra lg hgrdbla, b lcjgrgmdcb lg umb gdamahèb pkbmcjcdb-lb, gk `bmda dgmtrbk ma puglg damtrakbr par lgdrgta gk scstghb lg drãlcta y kbs tbsbs lg cmtgrãs (sbkva kbs prapcbs). Hâs `cgm, sg rgqucgrgm cmstruhgmtas hamgtbrcas qug dahpkghgmtgm gk jumdcambhcgmta lg um scstghb jcmbmdcgra dahpgtctcva. Gm um bh`cgmtg arcgmtbla bk hgrdbla, kbs tbsbs lg cmtgrãs iugebm um pbpgk chpartbmtg gm kb trbmshcscôm lg kb

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pakètcdb hamgtbrcb. Kas dbh`cas gm kbs tbsbs lg cmtgrãs lgk `bmda dgmtrbk bjgdtbm, gm prchgrb cmstbmdcb, kb dbmtclbl y prgdca lgk drãlcta y lgk lcmgra gm kb prapcb oaib lg `bkbmdg lgk `bmda dgmtrbk. Gsta sg trbmshctg kugea par tala gk scstghb `bmdbrca y kb gdamahèb gm talb su bhpkctul pbrb bjgdtbr gk dahpartbhcgmta lg kbs ghprgsbs y kas oaebrgs y par gmlg kb cmjkbdcôm. Kb tbrgb lgk `bmda dgmtrbk damscstg gm gvbkubrr gstas lcjgrgm gvbkub lcjgrgmtgs tgs dbmbkgs lg kb pakètcdb hamgtb hamgtbrcb rcb y par ka tbmt tbmta a gstb`k gstb`kgdgr  gdgr  kb pakètcdb lg bdugrla b gkka. Gm umb gtbpb u atrb kb hbyarèb lg kas `bmdas dgmtrb dgm trbkgs kgs obm utckcz utckczbla bla a`i a`igtc gtcvas vas cmtgrh cmtgrhglc glcas as lg drgd drgdchc chcgmt gmta a ham hamgtb gtbrca rca pbrb pbrb byulbrsg b damludcrkb pakètcdb hamgtbrcb. Gstg gs bùm um gmjaqug gxctasa pbrb bkeumass pbèsgs bkeuma pbèsgs,, pbrtcd pbrtcdukbrhg ukbrhgmtg mtg Bkghbmcb. ^brb atras, gm pbrtcdukbr pbrtcdukbr bqugkkas qug gmjrgmtbm kb kc`grbkczbdcôm jcmbmdcgrb, kas a`igtcvas lg ajgrtb hamgtbrcb sg obm vugkta hgmas damjcb`kgs. Kbs tbsbs lg cmtgrãs sam utckczblbs par bkeumas pbèsgs daha um a`igtcva cmtgrhglca bktgrmbtcva, hcgmtrbs qug atras obm blaptbla um a`igtcva jcmbk lcrgdta pbrb kb cmjkbdcôm. Bumqug gm kb prâdtcdb kas `bmdas dgmtrbkgs utckczbm umb vbrcglbl lg gm-jaqugs bk damludcr kb pakètcdb hamgtbrcb, kb hbyarèb tcgmgm kb hcshb hgtb jcmbk —kb cmjkbdcôm lg prgdca `bia. Pgjgrgmdcbs `c`kcaerâdbs Bkkgm U., Oaeebrto, E. y ^rcdg, K. (233:), ^akèdb Hamgtbrcb @bmda lg Cmekbtgrrb Dbsa lg Gstb`kgdgr ^rgdcas Gbstam, U.U. y Ttgpogmsam, H.I. (233>) \atbk lg Cmtgrãs gm kb Cmbdcôm Jrcglhbm, @.H. y Obom, J.O. (dahp.) (233>) Cmstrudva pbrb kb gdamahèb Egrkbdo, T. y Thgts, J. (233