Transcript
8/3/2019 The Economics of Unification
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OFREK„T EDF@FC^
2 8 ; ;k xubandk}nf` fi }le Ofrek Edf`fcnd N`t}n}u}e k`m
}le Ofrek N`t}n}u}e ifr N`}er`k}nf`ka Edf`fcnd Xfand~
8/3/2019 The Economics of Unification
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8/3/2019 The Economics of Unification
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OEN Emn}frnka Bfkrm
OEN Emn}frt7 Iafre`de Afze#Aee
]rf~ T}k`jkrf`e
Df`}rkd} Emn}fr7 Ckr~ Ckrno
Dfx~rnjl} ®
NTT@ ;85=#9>==
8/3/2019 The Economics of Unification
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Xkr} N7 Fyerynez k`m Ckdrfedf`fcnd Nttuet
Dfcce`}kr~
Ofrek k`m }le Zfram Edf`fc~ ;D Irem Berjt}e`
Ofrek„t Dlkaae`jet k`m Fxxfr}u`n}net n` 28;; 4Dlke Zffo
K`ka~tnt
Ofrek7 Edf`fcnd Xrftxed}t k`m Dlkaae`jet ki}er }le 9Jafbka Redettnf`Tubnr Akaa k`m Cerka Okrktuau
Xkr} NN7 In`k`dnka N`t}n}u}nf`t k`m Ckroe}t #Ifdut f` Jree` Jrfz}l
Dfcce`}kr~ Ofrek` Jree` Jrfz}l n` k Jafbka Df`}e|} ;Lk` Teu`j#tff
K` Fdek` fi ]rfubae! K` Fdek` fi Fxxfr}u`n}~ ;Xlnanxxe Dfut}eku k`m K`mrez T`fzln}e
K`ka~tnt
T~t}ec Krdln}ed}ure ifr Eiied}nye ;Jree` In`k`de n` Ofrek Onc L~fu`j#}ke
Ofrek„t Jree` Jrfz}l T}rk}ej~7 2 K Zktln`j}f` Xertxed}nye Lke~fu`j Onc
Xkr} NNN7 ]le Tefua J#28
Dfcce`}kr~
K Reiaed}nf` f` }le Tefua Tuccn} 4Xkua Yfadoer
]le J#287 Kdlneyece`}t k`m Dlkaae`jet 4
TkOf`j Na
Yfauce 2:
OFREK„T EDF@FC^
2 8 ; ;
8/3/2019 The Economics of Unification
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Xkr} NNN7 ]le Tefua J#28 ,Df`}n`uem.
K`ka~tnt
Kdlneyece`}t n` Tefua k`m Ofrek„t Rfae n` }le J#28 4Dlfn Lee`kc
Kirndk k`m Tfu}l Ofrek„t Aekmertlnx fi }le J#28 =Czk`jn T Once`~n
Xkr} NY7 E|}er`ka Reak}nf`t
Dfcce`}kr~
Ofrek„t Jree` E`erj~ Xfandnet k`m Xrftxed}t =Zlk`j Gfflf
K`ka~tnt
Edf`fcnd Ncxandk}nf`t ifr Tfu}l Ofrek fi }le Durre`} 5]rk`tifrck}nf` n` }le Cnmmae Ekt}Lk` Bkrk`
Ofrek#Kirndk7 Ecerjn`j Fxxfr}u`n}net 5
Xlnanxxe me Xf`}e} k`m Gkcet Dani}f` Irk`dnt
U.T.#Ofrek Edf`fcnd Reak}nf`t7 K Ynez irfc Tefua 9Onc Zf`#o~f`j
Xkr} Y7 Ofrek#Dln`k Edf`fcnd Reak}nf`t
Dfcce`}kr~
K @ez Xlkte n` Dln`k—@fr}l Ofrek Reak}nf`t :Jfrmf` J Dlk`j
K`ka~tnt
N`drektn`j Mexe`me`d~7 @fr}l Ofrek„t Edf`fcnd :Reak}nf`t zn}l Dln`k Mndo O @k`}f
Ofrek#Dln`k Edf`fcnd Xkr}`ertlnx7 <]le ]lnrm Dln`k RutlDlef`j ^fu`j#rfo k`m Aee Dlk`j#o~u
Xkr} YN7 @fr}l Ofrek„t Edf`fcnd Meyeafxce`} k`mE|}er`ka Reak}nf`t
Dfcce`}kr~ Luck` Retfurdet k`m Ofrek` Reu`nindk}nf` >@ndlfakt Ebert}km}
K`ka~tnt
]le Edf`fcndt fi Reu`nindk}nf` >Mf`j ^f`j#tue`j
Aekmn`j Edf`fcnd N`mndk}frt ifr Ofrek ;
Kbfu} OEN
OEN Kmyntfr~ Bfkrm ;
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@FR]L OFREK„T EDF@FCND MEYEAFXCE@] K@M E\]ER@KA REAK]NF@T >>
]LE EDF@FCNDT FI REU@NINDK]NF@
B~ Mf`j ^f`j#tue`j
]le }erc ‑reu`nindk}nf`– dk` be mein`em kt k xrfdett fi
ifrcn`j f`e u`n}em dfu`}r~ irfc }zf fr cfre dfu`}rnet
}lk} lkm bee` texkrk}em b~ n`}er`ka fr e|}er`ka dkutet.
Bktem f` }lnt mein`n}nf`! Tfu}l Ofrek k`m @fr}l Of#
rek! k`m Dln`k k`m ]knzk`! dk` be df`tnmerem kt texk#
rk}em ̀ k}nf`t }lk} knc }f kdlneye reu`nindk}nf`. ]lete
dfu`}rnet affo k} }le reu`nindk}nf`t fi Jerck`~ k`m
Yne}`kc kt ckn` reiere`det. ]le Jerck` reu`nindk}nf`
zkt kdlneyem }lrfujl kbtfrx}nf`”zle` k dkxn}kant}
dfu`}r~ kbtfrbem k tfdnkant} f`e”zle` }le Ekt} Jer#
ck` rejnce tumme`a~ t}kr}em }f ika}er. N` df`}rkt}! }le
Yne} k̀cete reu`nindk}nf` nt k` e|kcxae fi k tfdnkant}rejnce kbtfrbn`j k dkxn}kant} dfu`}r~ }lrfujl zkr.
N` kmmn}nf`! ze dk` katf rejkrm k rejnf`ka n`}ejrk}nf`
xrfdett be}zee` dfu`}rnet zn}l mniiere`} nmefafjnet
k`m rejncet? }le Eurfxek` U`nf` nt k` e|kcxae fi
}lnt }~xe fi reu`nindk}nf`.
Ze dk` df`tnmer Jerck` reu`nindk}nf` k`m }le Eurf#
xek` n`}ejrk}nf` xrfdett kt ykaukbae cfmeat ifr }le
reu`nindk}nf` fi Tfu}l k`m @fr}l Ofrek. N` kmmn}nf`!
}le reu`nindk}nf` fi Jerck`~ ifrcem k ifu`mk}nf`
ifr Eurfxek` n`}ejrk}nf`. Yne}`kcete reu`nindk}nf`
dk` be e|daumem bedkute n} zkt kdlneyem }lrfujl zkr k`m n} zkt aem b~ k tfdnkant} rejnce. Kt k retua}! }le
bet} cfmea ifr Ofrek„t reu`nindk}nf` nt }le f`e utem
b~ Jerck`~? ~e} }lere kre ancn}k}nf`t }f kmfx}n`j
e|kd}a~ }le tkce cfmea. ]le e`ynrf`ce`}ka bkdo#
jrfu`m beln`m }le `k}nf`t„ texkrk}nf` zkt mniiere`}!
kt Ekt} k`m Zet} Jerck`~ zere texkrk}em b~ e|}er`ka
ifrdet. Ki}er Jerck`~ aft} }le Tedf`m Zfram Zkr! }le
ifur ynd}frt re}kn`em ku}lfrn}~ fyer Jerck`~ kt }le
Tfyne} U`nf` }ffo df`}rfa fi ekt}er` Jerck`~ k`m kt
}le U`n}em T}k}et! Brn}kn`! k`m Irk`de }ffo df`}rfa fi
zet}er` Jerck`~. N` Ofrek! n` df`}rkt}! bf}l n`}er`ka
k`m e|}er`ka ikd}frt dkutem Ofrek„t texkrk}nf` ki}er }le}rkjem~ fi }le Ofrek` Zkr! murn`j zlndl }le U`n}em
T}k}et! Dln`k! k`m }le Tfyne} U`nf` n`}erierem n` Of#
rek„t n`}er`ka kiiknrt. Kt k retua}! kjjrettnf` fi f`e fi
}le Ofrekt }fzkrm }le f}ler k`m k ynd}nc ce`}kan}~ kre
cudl t}rf`jer n` }le dkte fi Ofrek.
Katf! Ekt} k`m Zet} Jerck`~ tlkrem }le tkce dua}ure!
k`m }le~ lkm karekm~ e|xerne`dem k` edf`fcnd k`m
tfdnka meyeafxce`} xrfdett ux }f k xfn`} zlere }le~
lkm k dkxkdn}~ }f n`n}nk}e }le Tedf`m Zfram Zkr. Be#
dkute Ofrek zkt texkrk}em kacft} nccemnk}ea~ ki}er
n} zkt ireem irfc 49 ~ekrt fi Gkxk`ete dfaf`nwk}nf`!
Tfu}l k`m @fr}l Ofrek lkrma~ tlkre k` e|xerne`de fi
tfdnka meyeafxce`}! k`m k} }le }nce fi texkrk}nf` }le
kbtfau}e aeyea fi meyeafxce`} n}teai zkt katf yer~ afz.
Bktem f` }lete ikd}t! n} dk` be df`daumem }lk} }le dft}
fi Ofrek` reu`nindk}nf` ck~ be cudl lnjler }lk` }lk}
fi }le Jerck` reu`nindk}nf`.
Kxxrfkdln`j }le reu`nindk}nf` xrfbaec irfc k` edf#
`fcnd xertxed}nye! ze kazk~t ikde nttuet reak}em }f
dft}t. Ykrnfut }~xet fi dft}t krnte zle` }zf mniiere`}
rejncet kre n`}ejrk}em zn}l ekdl f}ler. Ze dk` reier
}f Jerck` reu`nindk}nf` kt }le cft} rede`} e|kcxae!
bu}! kt Ofrek„t tn}uk}nf` nt mnttncnakr n` k `ucber fi
zk~t! }le }~xet k`m }le kcfu`}t fi }le dft}t znaa be
mniiere`}. Ofrek ̀ fz lkt k` fxxfr}u`n}~ }f ifrcuak}e
k` eiindne`} reu`nindk}nf` xrfdett kt n} lkt aekr`em k
jrek} meka irfc Jerck` reu`nindk}nf` murn`j }le xkt}
medkmet. ]lnt cek`t }lk} }le be`ein}t fi reu`nindk}nf`!`f} gut} }le dft}t! dk` `fz be jnye` xrfxer df`tnmer#
k}nf`. Kxxrfkdln`j }le reu`nindk}nf` xrfbaec irfc k`
edf`fcnd ynezxfn`} dk` be u`mert}ffm kt k xrfdett
fi drek}n`j ck|ncuc be`ein}t zn}l }le aekt} dft}? }le
xfttnbnan}~ fi kdlneyn`j }lnt znaa be mntduttem n` }le
`e|} ted}nf`.
Aettf`t irfc Jerck` Reu`ndk}nf`
Ki}er Ekt} k`m Zet} Jerck`~ zere reu`ninem! t}um#
net f` }le dft} fi Ofrek` reu`nindk}nf` zere znmea~
u`mer}koe`! k`m df`tnmerk}nf` k`m mntduttnf` fi }let}umnet kacft} bedkce k }re`m. ]le n`}eret} n` }le dft}
fi reu`nindk}nf` n`}e`tninem n` }le xuband kre`k kt }le
e|xed}em xfttnbnan}~ fi reu`nindk}nf` turikdem zn}l }le
mek}l fi Onc Na#tu`j! }le aekmer fi @fr}l Ofrek! n`
;>>=. ]lnt mnm ̀ f} akt} af`j! lfzeyer! k`m }le n`}e`tn}~
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;88 ]LE OFREK EDF@FCND N@T]N]U]E
fi mebk}e f` reu`nindk}nf` t}kr}em }f zekoe` n` Ofrek`
tfdne}~ kt }nce xkttem. ]lnt zkt bedkute }le edf`fcnd
dft} fi Jerck` reu`nindk}nf` bedkce o`fz`! k`m
}le et}nck}em dft} fi Ofrek` reu`nindk}nf` e|deemem
}le kcfu`} }lk} Tfu}l Ofrek dfuam bekr. Cfrefyer!
xuband lft}nan}~ }fzkrm reu`nindk}nf` t}kr}em }f kxxekr
n` Ofrek. ]le aettf` irfc }le Jerck` reu`nindk}nf`
k} }lk} }nce zkt }lk} ni Ofrek ifaafzem }le tkce xk}l!
n} zfuam jf brfoe.
]le ce}lfmfafj~ fi dkaduak}n`j }le dft} fi reu`nin#
dk}nf` nt bktem f` }f}kan`j }le dkxn}ka n`ged}em n`}f
@fr}l Ofrek ux }f }le xfn`} zlere }le edf`fcnd
aeyea fi @fr}l Ofrek nt e{uka }f }lk} fi Tfu}l Of#
rek. Mexe`mn`j f` }le et}nck}nf` cfmea! }le dft} fi
reu`nindk}nf` rk`jet irfc lu`mremt fi bnaanf`t }f k
iez }rnaanf` mfaakrt. Zle` Ekt} k`m Zet} Jerck`~
reu`ninem! Zet} Jerck`~„t JMX zkt ;8 }ncet akrjer
}lk` Ekt} Jerck`~„t! k`m Zet} Jerck`~„t xfxuak#
}nf` zkt ifur }ncet akrjer. ]le dft} fi rkntn`j ekt}er`
Jerck`~„t edf`fcnd aeyea ux }f zet}er` Jerck`~„t
zkt ̀ f} e|}rece kt Ekt} Jerck`~„t n`dfce xer dkxn}k
zkt krfu`m 48 xerde`} fi Zet} Jerck`~„t. Katf! Zet}
Jerck`~ k} }le }nce zkt }le tedf`m#akrjet} edf`fcnd
xfzer n` }le zfram ki}er }le U`n}em T}k}et.
N` }le dkte fi Tfu}l Ofrek! lfzeyer! n` 288> n}t
JMX zkt ;< }ncet akrjer }lk` @fr}l Ofrek„t! ~e} n}t
xfxuak}nf` zkt f`a~ }znde }le tnwe. Bktem f` }lete
ikd}t! k tncxae dkaduak}nf` aekmt }f k df`dautnf` }lk}
}le dft} fi Ofrek` reu`nindk}nf` zfuam be cfre }lk`
mfubae }le dft} fi Jerck` reu`nindk}nf`. N` }le ekra~
;>>8t zle` Jerck`~ zkt reu`ni~n`j! n} zkt ncxft#
tnbae ifr }le Tfu}l Ofrek` edf`fc~ }f }koe f` tudl
k burme` k`m ifaafz }le tkce xk}l kt Zet} Jerck`~.
Xerlkxt n} zkt k `k}urka edf`fcnd xle`fce`f` ifr
tudl xuband lft}nan}~ }fzkrm reu`nindk}nf` }f krnte n`
Ofrek` tfdne}~.
]le xfan}ndka ̀ edettn}~ fi n`}rfmudn`j Zet} Jerck`~„t
meu}tdle ckro n` ekt}er` Jerck`~ k`m e|dlk`jn`j
Ekt} Jerck` ckrot k} k rk}e fi ;7; lkt bee` xfn`}em
fu} kt k ikd}fr }lk} rkntem }le dft} fi Jerck` edf`fcnd
n`}ejrk}nf`. ]lete medntnf`t kncem }f kyfnm k rktl fi
ecnjrk}nf` fi akbfrert irfc ekt}er` Jerck`~ n`}f
zet}er` Jerck`~ k`m }f nj`n}e ekt}er` Jerck`~„t edf#
`fcnd meyeafxce`}! ~e} }le kmmn}nf`ka dft} burme`em
Jerck`~„t jfyer`ce`} in`k`det. Katf Jerck`~„t
in`k`det zfrte`em kt }le aeyea fi n}t tfdnka tedurn}~
be`ein}t”f`e fi }le lnjlet} n` }le zfram”zkt km#
fx}em n` ekt}er` Jerck`~. ]lnt cek`} }lk} }le dkxn}ka
kyknakbae ifr tfdnka fyerlekm n`yet}ce`} lkm }f be
remudem n` reak}nye }erct.
‑Ofrek cut} ifdut f` }le ikd} }lk} }kon`j ekra~ kd#
}nf` dk` remude }le }f}ka reu`nindk}nf` dft}. Zet}
k`m Ekt} Jerck`~ xak``em k jrkmuka edf`fcnd
n`}ejrk}nf` zle` }le~ mednmem f` xfan}ndka n`}ejrk#
}nf`! bu} }le~ ze`} }lrfujl tlfdo }lerkx~ k} }le
e`m zle` }le~ dlfte k {undo n`}ejrk}nf` fi }lenr
durre`dnet. Tfu}l k`m @fr}l Ofrek cut} in`m k zk~
}f n`}ejrk}e }lenr edf`fcnet eiied}nyea~–
@fz }lk} 28 ~ekrt lkye xkttem tn`de Jerck`~ reu`n#
inem! }lere `eemt }f be k ren`}erxre}k}nf` fi Jerck`
reu`nindk}nf`. ]f be cfre xrednte! k ren`}erxre}k}nf`
fi }le dft} fi Jerck` reu`nindk}nf` nt re{unrem. Zle`
dkaduak}n`j }le dft} fi reu`nindk}nf`! f`e tlfuam `f}
gut} ikd}fr n` }le e|xe`tet `eemem n` }le xrfdett bu}
katf n`daume }le reu`nindk}nf` be`ein}t k`m dkaduak}e
}le `e} reu`nindk}nf` dft}. Jerck`~ nt t}naa xk~n`j
ifr }le reu`nindk}nf` 28 ~ekrt f`! k`m Jerck`~ katf
e|xerne`dem k` edf`fcnd redettnf` ifr cfre }lk`
;8 ~ekrt. K `ucber fi edf`fcnt}t eye` xremnd}em
}lk} }le Jerck` edf`fc~ zkt jfn`j }f dfaakxte kt k
retua}. Durre`}a~! tfdnka n`}ejrk}nf` be}zee` ekt}er`
k`m zet}er` Jerck`~ nt k` f`jfn`j xrfdett! k`m
}le Jerck` edf`fc~ nt f` k redfyer~ }rkged}fr~ kt
ekt}er` Jerck`~ nt xrfynmn`j k ykaukbae mfcet}nd
ckroe}. Jerck`~ lkt ̀ fz f`de kjkn` bedfce k ckgfr
edf`fcnd xfzer. Katf! Jerck` reu`nindk}nf` lkt txem
ux }le Eurfxek` n`}ejrk}nf` xrfdett! k`m Jerck`~ lkt
`k}urkaa~ bedfce k xnyf}ka cecber n` }le xrfdett. N}
lkt kdlneyem jrek} t}rnmet n` tfdnka n`}ejrk}nf`! k`m
Jerck` xefxae„t xrnme n` fyerdfcn`j mniindua}net n`
}le xkt} mrnyet }le dfcxe}n}nye`ett fi }le dfu`}r~.
]le edf`fcnd aettf`t irfc Jerck` reu`nindk}nf`
dk` be tucckrnwem n` }lree xfn`}t. Inrt}! k `k}nf`
cut} etdkxe irfc }le iekr fi }le burme` fi }le n`n#
}nka reu`nindk}nf` dft}. ]le edf`fcnd xfzer fi Zet}
Jerck`~ zkt rejkrmem kt jrek} e`fujl }f bekr }le
dft} fi reu`nindk}nf`. N} nt }rue }lk} tfce e|dettnye
dft}t krfte! bu} n} zkt zn}ln` rekdl fi Zet} Jerck`~.
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@FR]L OFREK„T EDF@FCND MEYEAFXCE@] K@M E\]ER@KA REAK]NF@T ;8;
N} nt e|xed}em }lk} Ofrek znaa katf ikde k` e`frcfut
reu`nindk}nf` dft}! ~e} n} dk``f} e|deem zlk} }le Tfu}l
Ofrek` edf`fc~ dk` e`mure.
Tedf`m! Ofrek cut} ifdut f` }le ikd} }lk} }kon`j ekra~
kd}nf` dk` remude }le }f}ka reu`nindk}nf` dft}. Zet} k`m
Ekt} Jerck`~ xak``em k jrkmuka edf`fcnd n`}ejrk}nf`
zle` }le~ mednmem f` xfan}ndka n`}ejrk}nf`! bu} }le~
ze`} }lrfujl tlfdo }lerkx~ k} }le e`m zle` }le~ dlfte
k {undo n`}ejrk}nf` fi }lenr durre`dnet. Tfu}l k`m @fr}l
Ofrek cut} in`m k zk~ }f n`}ejrk}e }lenr edf`fcnet
eiied}nyea~! k`m }le jfka tlfuam be }f `k}urkaa~ tuxxrett
}le cfyece`} fi akbfr.
]lnrm! Ofrek ̀ eemt }f df`de`}rk}e f` in`mn`j n}t iu}ure
dfcxe}n}nye`ett. Ofrek cut} mntdfyer n}t jrfz}l e`#
jn`e b~ dfccerdnkanwn`j n` krekt zlere be`ein}t kre
anoea~ }f krnte ki}er }le reu`nindk}nf`. Jerck`~! ifr
e|kcxae! u}nanwem Eurfxek` n`}ejrk}nf` k`m Jerck`~„t
xrnme kt }le ckgfr edf`fcnd jrfz}l e`jn`e.
Reu`nem Edf`fc~ fi }le Ofrek` Xe`n`tuak
Medntnf`t b~ texkrk}em `k}nf`t }f reu`ni~ mf `f} me#
xe`m f` iu}ure edf`fcnd be`ein}t k`m dft}t. Dkaduak}#
n`j }le edf`fcnd fu}dfce tlfuam be rejkrmem kt in`m#
n`j k zk~ }f ck|ncnwe }le edf`fcnd eiindne`d~ zle`
}le reu`nindk}nf` mrkzt `ekr. Dk` }le reu`nindk}nf` fi
Tfu}l k`m @fr}l Ofrek be edf`fcndkaa~ cek`n`jiua6
]le reu`nindk}nf` dft} fi Ofrek nt `f} jfn`j }f be
k} k aeyea }lk} zfuam be zfrr~n`ja~ tnj`nindk`}. ]le
edf`fcnd jkx be}zee` @fr}l k`m Tfu}l Ofrek lkt
znme`em cudl cfre tn`de }le ;>>8t. ]le xfxuak}nf`
fi Tfu}l Ofrek e|deemem 58 cnaanf` n` 28;; zlnae }le
xfxuak}nf` fi @fr}l Ofrek n` 288< zkt aett }lk` lkai
}lk}! k} 2= cnaanf`! kddfrmn`j }f k U@ de`tut. Bu} }le
U@ injuret ck~ ̀ f} reiaed} rekan}~! k`m }le xfxuak}nf`
fi @fr}l Ofrek lkt bee` et}nck}em eatezlere }f be
krfu`m 28 cnaanf`.
Tfu}l Ofrek„t n`dfce xer dkxn}k nt katf cudl akrjer”
kxxrf|nck}ea~ -28!888”zlnae }lk} fi @fr}l Ofrek
nt krfu`m -;!888! kddfrmn`j }f et}nck}et b~ }le Bk`o
fi Ofrek. ^e} }lnt katf teect n} dfuam be k` fyeret}n#
ck}nf`! k`m n} nt cfre anoea~ }f be krfu`m -588 ni ze
dfcxkre }le edf`fcnd rekan}~ fi @fr}l Ofrek zn}l
}lk} fi f}ler dfu`}rnet. Kt k retua}! }le JMX fi Tfu}l
Ofrek nt durre`}a~ cfre }lk` <8 }ncet akrjer }lk` }le
@fr}l Ofrek` edf`fc~. Irfc }lete et}nck}et! ze
dk` df`daume }lk} ni ze xutl lkrm ifr reu`nindk}nf`
f` k` u`rektf`kbae bktnt Tfu}l Ofrek„t jfyer`ce`}
e|xe`mn}ure znaa e|deem k ck`kjekbae aeyea. Kt k
retua}! te}}n`j k ret}rnd}nf` f` }le reu`nindk}nf` bum#
je} znaa be n`eyn}kbae! k`m }lnt bumje} ancn}k}nf` ck~
e{uka }le ck|ncuc kcfu`} }lk} Tfu}l Ofrek znaa be
kbae }f kiifrm.
Tfu}l Ofrek„t jfyer`ce`} meb}! zn}lfu} }kon`j reu`n#
indk}nf` dft}t n`}f kddfu`}! nt e|xed}em }f rnte }f =2
xerde`} fi JMX b~ 2848! dkutem b~ ykrnfut rektf`t
tudl kt n}t kjn`j xfxuak}nf`. Ni Tfu}l Ofrek dfccn}t
4 xerde`} fi JMX xer ~ekr n`}f reu`nindk}nf`#reak}em
e|xe`mn}uret! }le edf`fcnd meyeafxce`} fi @fr}l
Ofrek zfuam kddeaerk}e? Tfu}l Ofrek! lfzeyer! zfuam
lkye k jfyer`ce`} meb} kt akrje kt <2 xerde`} fi JMX.
]lnt tn}uk}nf` zfuam be mk`jerfut kt Tfu}l Ofrek„t
jfyer`ce`} meb} zfuam }le` be dafte }f >8 xerde`}
fi JMX! zlndl nt rejkrmem kt }le aeyea zlere k intdka
drntnt nt anoea~ }f fddur. Ni Tfu}l Ofrek zere }f kaaf#
dk}e ; xerde`} fi JMX xer ~ekr n`t}ekm! jfyer`ce`}
meb} zfuam rnte }f 55.= xerde`}! zlndl nt ;4.= xerde`}
lnjler }lk` }le bktean`e! ~e} }le burme` ifr }le Ofrek`
edf`fc~ zfuam be reak}nyea~ cudl aett bedkute }le
jfyer`ce`} meb} zfuam be t}naa beafz }le aeyea }lk} nt
re{unrem }f gfn` }le Eurfxek` Cf`e}kr~ U`nf`.
]lete et}nck}et aekm ut }f df`daume }lk} }le ancn}k#
}nf` f` Tfu}l Ofrek„t jfyer`ce`} e|xe`mn}ure n`
reu`nindk}nf`#reak}em krekt znaa be kxxrf|nck}ea~ ;
xerde`} fi JMX xer k``uc. Df`yertea~! n} dfuam be
n`}erxre}em }lk} ni Tfu}l Ofrek fyern`yet}t n` frmer
}f rknte }le edf`fcnd aeyea fi @fr}l Ofrek }f cee}
}lk} fi Tfu}l Ofrek! }le xrfbkbnan}~ fi je}}n`j k afz
fu}xu} reak}nye }f n}t n`xu} nt lnjl. Ifr e|kcxae! @fr}l
Ofrek„t e|}er`ka }rkme durre`}a~ kcfu`}t }f f`a~
kxxrf|nck}ea~ -= bnaanf` k``ukaa~. N}t e|xfr}t kre
df`de`}rk}em n` ̀ k}urka dfccfmn}net tudl kt cn`erkat
k`m kjrndua}urka xrfmud}t k`m n}t ncxfr}t kre cft}a~
iffm k`m mkna~ `edettn}net. ]lnt tlfzt }lk} n`mut}rnka
kd}nyn}net }lk} dk` drek}e ykaue#kmmem xrfmud}t kre
kbte`} n` @fr}l Ofrek.
Ren`ynjfrk}n`j @fr}l Ofrek„t edf`fc~ znaa re{unre
t}kr}n`j irfc k werf bkte. Eye` ni @fr}l Ofrek kmfx}t
}le meyeafxce`} cfmea utem b~ Tfu}l Ofrek n` }le
;>98t k`m ;>:8t! n}t dkxkdn}~ }f kbtfrb n`yet}ce`}
znaa be ancn}em. Kt k retua}! ni ze df`tnmer }le @fr}l
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;82 ]LE OFREK EDF@FCND N@T]N]U]E
Ofrek` edf`fc~„t kbtfrx}nf` dkxkdn}~ k`m }le ret}rnd#
}nf` ncxftem f` Tfu}l Ofrek„t jfyer`ce`} e|xe`mn#
}ure! }le dft} fi Ofrek` reu`nindk}nf` nt `f} jfn`j }f
be kakrcn`ja~ tnj`nindk`}. N} nt ncxfr}k`}! lfzeyer!
}lk} Tfu}l Ofrek mfet `f} kmfx} ncxrkd}ndka xfan#
dnet k} }le bejn``n`j”tudl kt xutln`j ifr durre`d~
n`}ejrk}nf`”kncem k} kdlneyn`j rkxnm edf`fcnd n`}e#
jrk}nf`. Durre`d~ n`}ejrk}nf` nt utukaa~ k in`ka t}kje fi
edf`fcnd n`}ejrk}nf`! fu} fi xfan}ndka `edettn}~.
@e|}! }le n`yntnbae dft}! fr }le tf#dkaaem Ofrek mnt#
dfu`}! }lk} krntet irfc }le mnyntnf` fi Ofrek dk``f} be
fyeraffoem. ]le dft} fi nttuk`de fi mfaakr bf`mt k`m
}lenr n`}eret} rk}et kre k an}}ae lnjler ifr Tfu}l Ofrek
}lk` ifr dfu`}rnet fi k dfcxkrkbae edf`fcnd tn}uk}nf`.
]lnt nt bedkute }le xfan}ndka n`t}kbnan}~ }lk} t}ect irfc
}le mnyntnf` kd}t kt k `ejk}nye ikd}fr zle` meyntn`j
k` n`yet}ce`} t}rk}ej~.
Kxkr} irfc }lnt tfcezlk} kxxkre`} dfcxf`e`}! }lere
kre ck`~ cfre mntdfu`}t }lk} kre `f} yntnbae. Tfu}l
Ofrek nt durre`}a~ k me ikd}f ntak`m ̀ k}nf`7 }lree tnmet
kre turrfu`mem b~ fdek` k`m f`e tnme”}le @fr}l”nt
k danii. Kt k retua}! Tfu}l Ofrek lkt ifu`m n} mniindua}
}f dkrr~ ifrzkrm k butn`ett xak` reak}em }f }le Ktnk`
df`}n`e`}. Bu} ni @fr}l k`m Tfu}l Ofrek reu`ni~! `ez
fxxfr}u`n}net tudl kt df``ed}n`j jkt xnxet }f }le Tnbe#
rnk` krek! }rkmn`j eaed}rndn}~ zn}l Dln`k k`m Ruttnk! df`#
`ed}n`j Gkxk` zn}l Ktnk n` }erct fi }rkme b~ an`on`j ux
rknazk~t k`m rfkmt! xutln`j ifr edf`fcnd n`}ejrk}nf`!
k`m drek}n`j k `ez dffxerk}nf` t}rud}ure n` @fr}lekt}
Ktnk kcf`j Dln`k! Ofrek! k`m Gkxk` znaa krnte.
Ofrek„t e|dettnye cnan}kr~ txe`mn`j k`m }le reak}em
tfdnka dft}t kre katf k` ncxfr}k`} xkr} fi }le Ofrek
mntdfu`}. Tfu}l Ofrek„t cnan}kr~ txe`mn`j nt durre`}a~
krfu`m 2.: xerde`} fi JMX. ]le cnan}kr~ txe`mn`j
n}teai nt k tnj`nindk`} dft}! bu} }lere nt katf k mntdfu`}
n` }erct fi akbfr. Bedkute fi }le ck`mk}fr~ cnan}kr~
terynde! ~fu`j Ofrek` ce` txe`m }zf }f }lree ~ekrt n`
}le cnan}kr~! k`m }le u}nanwk}nf` fi ~fu`j akbfr xfzer
nt meak~em b~ }zf }f }lree ~ekrt dfcxkrem zn}l f}ler
dfu`}rnet kt k retua}.
Akt}! }le be`ein}t fi reu`nindk}nf` kre u`nckjn`kba~
e`frcfut. Irfc k butn`ett xertxed}nye! reu`nindk}nf`
nt k butn`ett zn}l yer~ lnjl xrfin}kbnan}~. N} dk` be
u`mert}ffm kt }kon`j fyer k dfu`}r~ zn}l k xfxuak#
}nf` fi 28 cnaanf`! u`merjrfu`m retfurdet et}nck}em
}f be zfr}l -4 }rnaanf`! k`m k ak`m cktt fi cfre }lk`
;28!888 t{ukre onafce}ert. Tfu}l Ofrek znaa lkye k
`ez mfcet}nd ckroe} fi 28 cnaanf` xefxae! k`m n} znaa
e`gf~ }le be`ein}t fi meyeafxce`} n` }lnt ̀ ez ckroe}.
Bedkute @fr}l Ofrek znaa t}kr} irfc k werf bkte! }le
xrfin}kbnan}~ fi meyeafxce`} nt e|xed}em }f be e|#
}recea~ lnjl. Ni @fr}l Ofrek kmfx}t }le meyeafxce`}
cfmea utem b~ }le Tfu}l Ofrek` edf`fc~ n` }le ;>98t
k`m ;>:8t! }le k``uka edf`fcnd jrfz}l rk}e fi @fr}l
Ofrek znaa e|deem ;8 xerde`} ifr medkmet.
Ifrenj` n`yet}frt znaa katf }koe k` n`}eret} n` n`yet}#
ce`} xrfged}t! k`m n} znaa be xfttnbae }f ifrc n`}er`k#
}nf`ka df`tfr}nk ifr n`irkt}rud}ure df`t}rud}nf` n` @fr}l
Ofrek. Xrfin}kbnan}~ n` krekt fi e`erj~ k`m }rk`txfr#
}k}nf` nt jfn`j }f be xkr}nduakra~ lnjl mexe`mn`j f`
}le butn`ett meyeafxce`} ce}lfm. ]le df`t}rud}nf`
n`mut}r~! n`daumn`j bunamn`j lfutn`j! znaa katf tlfz lnjl
xrfin}kbnan}~. ]le Ofrek` edf`fc~ znaa be kbae }f xrfmude
butn`ettet n` }le `ez n`mut}r~ krekt! k`m k `ucber fi
jafbkaa~ dfcxe}n}nye inrct znaa ecerje kt k retua} fi k`
e|xk`tnf` fi }le mfcet}nd ckroe}. Zle` ze df`tnmer
}le be`ein}t! n} nt der}kn` }lk} }le reu`nindk}nf` znaa kd} kt
k `ez jrfz}l e`jn`e ifr }le Ofrek` edf`fc~.
Df`dautnf`
]lut! reu`nindk}nf` nt k` edf`fcndkaa~ ykaukbae butn#
`ett. ]le dft}t fi reu`nindk}nf` kre ancn}em zlnae }le
be`ein}t znaa krnte ifr k` n`mein`n}e xernfm fi }nce. ]le
dkxn}ka n`ged}em znaa be ret}rnd}em }f k aeyea }le Tfu}l
Ofrek` edf`fc~ znaa be kbae }f kiifrm! bu} }le be`ein}t
znaa df`}n`ue }f n`drekte zn}l }nce.
Tfu}l Ofrek tlfuam t}kr} xrexkrn`j ifr reu`nindk}nf`
rnjl} `fz. Ofrek k`m }le n`}er`k}nf`ka dfccu`n}~
tlfuam bejn` }f mntdutt }le krekt n` zlndl ykrnfut
t}koelfamert znaa lkye }f dffxerk}e n` frmer }f rknte }le
edf`fcnd eiindne`d~ zle` }le }nce }f reu`ni~ tumme`a~
dfcet. Ofrek tlfuam kd}nyea~ tekrdl ifr `ez butn`ett
xrfged}t }lk} kre xf}e`}nkaa~ ynkbae ki}er reu`nindk}nf`
k`m df`t}rud} k` n`}er`k}nf`ka dffxerk}nf` t~t}ec }lk}
dk` an`o }lete ̀ ez fxxfr}u`n}net zn}l }le n`}er`k}nf`ka
dkxn}ka ckroe} n` frmer }f meyeafx }lec n`}f lnjla~
xrfin}kbae butn`ettet.
Tfu}l Ofrek tlfuam katf in`m ykrnfut zk~t }f dafte
}le edf`fcnd jkx be}zee` n}teai k`m @fr}l Ofrek. ]le
bet} dkte zfuam be ni @fr}l Ofrek mednmet }f reifrc
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@FR]L OFREK„T EDF@FCND MEYEAFXCE@] K@M E\]ER@KA REAK]NF@T ;84
b~ n}teai k`m fxe` ux. N} znaa katf lkye }f bedfce k
retxf`tnbae cecber fi }le n`}er`k}nf`ka dfccu`n}~.
Tudl dlk`jet n` @fr}l Ofrek„t belkynfr zfuam cek`
}lk} }le }zf Ofrekt dfuam jrkmukaa~ dkrr~ fu} }lenr
edf`fcnd n`}ejrk}nf` xrfdett beifre }lenr xfan}ndka
n`}ejrk}nf`! k`m @fr}l Ofrek zfuam df`}rnbu}e }f
ck|ncnwn`j }le edf`fcnd eiindne`d~ fi reu`nindk}nf`
b~ }kon`j ux k tlkre fi }le ancn}em reu`nindk}nf` dft}. N`
kmmn}nf`! Tfu}l Ofrek tlfuam df`de`}rk}e f` e|xk`m#
n`j }le edf`fcnd xne kt }lnt zfuam cek` }lk} }le tnwe
fi }le ret}rnd}em txe`mn`j zfuam n`drekte zn}l n}. Zn}l
k t}rf`jer edf`fc~! Ofrek zfuam be kbae }f ck`kje
}le reu`ninem edf`fc~ cfre iae|nba~ k`m e`gf~ }le
retua}n`j be`ein}t.
Mf`j ^f`j#tue`j nt zn}l }le Tkctu`j Edf`fcnd Retekrdl N`t}n}u}e.
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8/3/2019 The Economics of Unification
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Ofrek Edf`fcnd N`t}n}u}e
;<88 O T}ree}! @.ZTun}e ;8;8
Zktln`j}f` M.D.! 28889
Kmmn}nf`ka Dfcce`}kr~ k`m K`ka~tnt
Ofrek7 Edf`fcnd Xrftxed}t k`m Dlkaae`jet ki}er }leJafbka Redettnf`
Kdlneyece`}t n` Tefua k`m Ofrek„t Rfae n` }le J#28
Kirndk k`m Tfu}l Ofrek„t Aekmertlnx fi }le J#28
Ofrek„t Jree` Jrfz}l T}rk}ej~7 K Zktln`j}f` Xertxed}nye
K` Fdek` n` ]rfubae! K` Fdek` fi Fxxfr}u`n}~
T~t}ec Krdln}ed}ure ifr Eiied}nye Jree` In`k`de n` Ofrek
Edf`fcnd Ncxandk}nf`t ifr Tfu}l Ofrek fi }le Durre`}]rk`tifrck}nf` n` }le Cnmmae Ekt}
Ofrek#Kirndk7 Ecerjn`j Fxxfr}u`n}net
U.T.#Ofrek Edf`fcnd Reak}nf`t7 K Ynez irfc Tefua
K @ez Xlkte n` Dln`k—@fr}l Ofrek Reak}nf`t
N`drektn`j Mexe`me`d~7 @fr}l Ofrek„t Edf`fcnd Reak}nf`tzn}l Dln`k
]le Edf`fcndt fi Reu`nindk}nf`
Luck` Retfurdet k`m Ofrek` Reu`nindk}nf`
Ofrek#Dln`k Edf`fcnd Xkr}`ertlnx7 ]le ]lnrm Dln`k Rutl
Teaed}em Dfcce`}kr~
Ofrek k`m }le Zfram Edf`fc~D. Irem Berjt}e`! Xe}ertf` N`t}n}u}e ifr N`}er`k}nf`ka Edf`fcndt
Ofrek„t Dlkaae`jet k`m Fxxfr}u`n}net n` 28;;Dlke Zffo! Ofrek N`t}n}u}e ifr N`}er`k}nf`ka Edf`fcnd Xfand~
K Reiaed}nf` f` }le Tefua Tuccn}Xkua Yfadoer! Ifrcer Dlknrck` fi }le Iemerka Reterye
]le J#287 Kdlneyece`}t k`m Dlkaae`jetTkOf`j Na! Ofrek N`}er`k}nf`ka ]rkme Kttfdnk}nf`
Ofrek` Jree` Jrfz}l n` k Jafbka Df`}e|}Lk` Teu`j#tff! Jafbka Jree` Jrfz}l N`t}n}u}e
Ofrek„t Jree` E`erj~ Xfandnet k`m Xrftxed}tZlk`j Gfflf! Ofrek N`t}n}u}e fi E`erj~ Retekrdl
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