This is easier to see by looking at businesses. Socialism dictates that workers contribute based on their ability and receive based on their needs. All the Utopians live simply, moreover, so that they are able to meet their needs with only a few hours of work a day, leaving the rest for leisure. He believed that a political revolution was essential because the state was a central instrument of capitalist society, and since the bourgeoisie had a stranglehold on the government, it would be necessary to use force and violence to overthrow the capitalists. The old paradigm is broken. Modern society breeds selfishness, deception, and other evils, Fourier charged, because institutions such as marriage, the male-dominated family, and the competitive market confine people to repetitive labour or a limited role in life and thus frustrate the need for variety. Socialists complain that capitalism necessarily leads to unfair and exploitative concentrations of wealth and power in the hands of the relative few who emerge victorious from free-market competitionpeople who then use their wealth and power to reinforce their dominance in society. In such circumstances, Saint-Simon argued, it makes sense to put the economic arrangements of society in the hands of its most knowledgeable and productive members, so that they may direct economic production for the benefit of all. Although Karl Marx is known as the father of socialism, Welsh-born Robert Owen is coined as the first socialist. And I don't think any socialist would argue against that. What is Socialism? Most people prefer being "alienated from their labour" to sacrificing the amount of time, money and security it takes to start a business. Accordingly, Fourier envisioned a form of society that would be more in keeping with human needs and desires. Communism Vs. Socialism. Under capitalism (aka market system), each individual or business works in its own interest and maximizes its own profit based on its decisions. Business owners contact each other for partnerships or joint efforts on projects. The results were less than spectacular. The part of gaining profit for simply owning capital is critiqued by socialists. For more on the debate over whether the U.S. should become socialist. It takes an experienced professional to craft content that falls in line with your brand voice, while at the same . Thinking that those that work more and harder should be rewarded more doesn't speak against this in any way. Businesses owned by women and minorities have grown. When you think of the American economy, it's hard not to imagine business owners, as they're the lifeblood of the American dream. Independent Investment Adviser. Icaria was to be a self-sufficient community, combining industry with farming, of about one million people. In socialism, the goverment provides subsidies for small buisnesses; whereas, capitalism only depends on the corporations to spark the economy. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another. If capitalism is taken away, people naturally turn to a socialistic system because it is able to meet their needs. Just because a country has social programs does not make them socialist. Tony Blair of the British Labour Party promoted this 3rd way in 1995. . And yet, are they 300 times better? By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The primary distinction between the different systems is the degree to which the government participates in the economy. As you've said what should be rewarded should be the work one does, not his ability to gamble with one's future. That's not exactly proof of widespread support for socialism, but a look at an age breakdown of support for socialism is a bit more concerning. While every effort has been made to follow citation style rules, there may be some discrepancies. Society as a whole, therefore, should own or at least control property for the benefit of all its members. Greed is simply a biological characteristic of human beings. Those who suffer from illnesses or are too old to work are still provided for and valued in by the government, assuming that the government is more compassionate that the individual's family; Excess or insufficient production can be avoided; Prices can be controlled in a proper extent; Socialism can tackle unemployment to a great extent. Like the term liberalism, socialism is a word with many definitions. A 2014 Reason-Rupe survey asked respondents to use their own words to describe socialism and found millennials who viewed it favorably were more likely to think of it as just people being kind or . Socialism operates under the assumption that wealth is a limited resource that needs to be evenly distributed. When it comes to social media posts written by your employees to promote your business, who owns the content and the social media profile? Yes I work harder and longer than anyone else at my business. Opportunities are handed to members of the community regardless of race, color, age and gender. Those in the decentralist camp believe that decisions about the use of public property and resources should be made at the local, or lowest-possible, level by the people who will be most directly affected by those decisions. How do CEOs accomplish this? Capitalism works best because it promotes competition so that only the most efficient businesses survive. He said that unlike socialists of old, he was not wedded to nationalisation and state ownership. [28] Robert Owen also viewed socialism as a matter of ethics, although he used it with a slightly more specific meaning to refer to the view that human society can and should be improved for the benefit of all. Whereas in reality, most business owners have risked and sacrificed a huge amount in order to create a business that is profitable enough to pay wages to multiple people. This conflict has persisted throughout the history of socialism as a political movement. [5] [6] [4] As a term, it describes the economic, political and social theories and movements associated with . They aren't critical of the petite bourgeoisie (except for their generally conservative ideology, and sometimes abusive management practices) who do labor like you. Because such people are rich, they may choose where and how to live, and their choices in turn limit the options of the poor. Adherence to the precious principle of equality, Babeuf argued, requires the abolition of private property and common enjoyment of the land and its fruits. Even in the United States, lobbyists continually try to influence Congress and the president to pass laws in their favor, which is always at the expense of everyone else. In laissez-faire capitalism, businesses become free to form monopolies or oligopolies, which reduces competition, and thereby reduces the advantages of capitalism. While people continually proclaim that they want a fair society, the people who are benefiting from the unfairness work behind the scenes to make it unfair, so that they can continue to benefit from the unfairness. Yet creating a socialist economy is one of Chavez's most elusive goals a stark example of the disconnect between the president's rhetoric and the reality on the ground. Thanks! It's places like Wal-Mart where owners don't face real risk, and employees are hired and paid based on desperation. Check out the "About Us" and "Contact" pages for information on the business owner. While a number of different models of trade union protection have evolved throughout the world over time, they all guarantee the right of workers to form unions, negotiate benefits and participate in strikes. Thus, feudalism, with its landed nobility and monotheistic religion, was giving way to industrialism, a complex form of society characterized by its reliance on science, reason, and the division of labour. At its simplest, socialism calls for a nation's citizens to control at least some of its means of production the major ingredients needed for a healthy economy. June 22, 2021. Communism is a economic system where the government owns all businesses, but unlike socialism, there is no individual ownership of property or profit-making enterprises . (After all, if the laws were in the best interest of the people, then special interests wouldn't have to spend so much money to influence politicians to do otherwise, since, presumably, politicians would actually vote in the people's interest.). The petite bourgeoisie is economically distinct from the proletariat and the Lumpenproletariat social-class strata who rely entirely on the sale of their labor-power for survival; and also are distinct from the capitalist class haute bourgeoisie ("high bourgeoisie") who own the means of production and thus can buy the labor-power of the proletariat and Lumpenproletariat to work the means of production. Socialists argue that since everyone contributes to society in the form of work, therefore everyone should benefit from it. The only way to really ever be in complete control is to own you own business, socialism takes that away also . https://farm4.staticflickr.com/3466/3779974493_ccfd4f5ebf.jpg. Running the business may be stressful and hard to varying degrees, but thats not the point. the factors of production are privately owned; economic transactions take place in markets, where buyers and sellers interact; businesses and employees are free to pursue their own self-interest and are motivated to do so by the potential to earn a profit; without the direction of government, free markets do not produce. Lu Guanqiu, a businessman who owned and ran Wanxiang, a private car parts group, told Bloomberg: "When Xi becomes general secretary, he'll be even more open and will pay even more attention to. If you find some time Id be very happy! A common model includes a sector being taken over by the state, followed by one or more publicly owned corporations arranging its day-to-day running. Second . Because wealth is how the wealthy measure themselves among themselves. Articles from Britannica Encyclopedias for elementary and high school students. As socialists see it, true freedom and true equality require social control of the resources that provide the basis for prosperity in any society. By making people equal to each other, the gap between the rich and the poor will be bridged. Although Marx and Engels believed that property should belong to society, they did not really give much thought to how economic decisions would be made. Or consider the difference between North and South Korea: As can be easily seen from this 2014 nighttime photograph from the space station, the lights of civilization are conspicuous in South Korea and China, but virtually absent from North Korea. Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided. Socialism aims for public rather than for private ownership. Greed has been the main cause of wars and slavery throughout the ages and across all cultures sophisticated enough to have a hierarchy. Several monastic orders continue these practices today. So if socialism is defined as the unfair distribution or redistribution of wealth, then feudalism was socialism for the rich, serfdom was socialism for the rich, monarchy was socialism for the rich, slavery was socialism for the rich, authoritarianism is socialism for the rich, oligarchy is socialism for the rich, communism is socialism for the rich, and laissez-faire capitalism is socialism for the rich. The main benefit of capitalism is the promotion of competition. Here again, Adam Smith was right, people work for their own interest, including those in government. Lastly this idea that you can justify this "because you took a risk" is also a kinda conflicting argument. Let us know if you have suggestions to improve this article (requires login). Should the United States become socialist? These employees operate under party-appointed economic planners, who set output targets and prices and frequently interfered with the operations to satisfy personal or party desires. One of the first utopian socialists was the French aristocrat Claude-Henri de Saint-Simon. While a professional baseball pitcher may be able to pitch a baseball more than twice as fast as most people, no baseball pitcher can pitch more than 3 times faster than most people. An economic system in which most property and resources, such as factories or farms, are publicly owned or controlled. This is a system where the government gets a large amount of economy-altering properties, such as businesses and industries. Socialism provides the economy with more value judgment opportunities. On the spending side, a set of social policies typically provides free access to public services such as education, health care and child care. This fundamental conviction nevertheless leaves room for socialists to disagree among themselves with regard to two key points. Sifan Liu and Joseph Parilla Tuesday, April 14, 2020 For media inquiries, contact:. No doubt that the science of economics will guide the development of future economies, fine tuning them by promoting what works and eliminating what doesn't work. Workers have the option to self-manage themselves in the form of cooperative, collective, or public ownership. Also unlike the Communists, most socialists do not advocate violence or force to achieve their economic system. Social security schemes in which workers contribute to a mandatory public insurance program. That's about the level of support that existed in 2010, but in . (1902), that workers would only fight for better wages and working conditions, if they were led by a vanguard party of professional revolutionaries. When the wealthy award themselves most of the wealth and do not pay their fair share of taxes, then the lower classes will have less money. Socialism is the collective ownership by all the people of the factories, mills, mines, railroads, land and all other instruments of production. Change the conditions, he argued, and people will change; teach them to live and work together in harmony, and they will do so. In socialism, the goverment does not provide any form on humanitarian aid . Although a company's advertising media clearly appears to fall under the rubric of company property, the status of a social media account primarily used by an individual employee may be less clear. In this case the main camps consist of loosely defined groups of centralists and decentralists. For instance, in the United States, working income is taxed at a higher rate than either investment income or inherited income, income that accrues mostly to the wealthy. The redistribution of some wealth is necessary, because even in a capitalist economy, some people gain tremendous wealth, then use it to influence governments to make them even wealthier, usually at the expense of poor people. The capitalist system at that time required workers to work under harsh and dangerous conditions for little pay. That his people are suffering because of this massive diversion evidently does not faze him. In fact, the private . Socialism is a political system in which the government controls all important production and distribution processes and the general public relies on the state for the supply with those important goods and services for their daily life. Describes the best tax policy for any country to maximize happiness and economic wealth, based on simple economic principles. Land and houses are common property on Mores imaginary island of Utopia, where everyone works for at least two years on the communal farms and people change houses every 10 years so that no one develops pride of possession. What your not entitled to is the surplus value generated by your employees. The tax code in most countries favors the wealthy by taxing income earned from work the most, while taxing investment income and gratuitous transfers less, money that accrues mostly to the wealthy. The market system fosters competition that generally produces the most efficient allocation of resources. Why you shouldn't pay anything for the MoP? Additionally, subsidized access to housing, food, pharmaceutical goods, water supply, waste management and electricity is common. And despite Russia having a landmass almost 48 times that of Germany, with proportionally greater natural resources, and a much larger population, Germany's GDP in 2016 was 2.7 times that of Russia! Published March 1, 2023 3:38 a.m. PST. Even when a communist, such as Hugo Chvez in Venezuela, is elected in a democratic election, his primary goal is to retain his own power, even as the economy crumbles around him, because of gross mismanagement. The ideas of common ownership, equality, and a simple life were taken up in the visionary novel Voyage en Icarie (1840; Travels in Icaria), by the French socialist tienne Cabet. Indeed, most of North Korea looks like the ocean at night. While the ability of some people may be more than twice the ability of average people in some regards, abilities do not deviate much more than that. Some of the wealthy have so much money that they are willing to pay more than $100,000,000 for a painting, because the marginal utility of money is so low for them, that they simply do not know what else to do with it. 2. The workers would choose their supervisors and managers, control the working conditions, set prices for the products and services, and decide how profits and losses will be shared. It's not hard. In theory, based on public benefits, socialism has the greatest goal of common wealth; Since the government controls almost all of society's functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes. Marx and Engels believed there was a class struggle between the masses, which Marx called the proletariat, who could only offer their labor, and the owners of the means of production, which included land, raw materials, tools and machines, and especially money. Literally everyone there knows this. In an pure socialistic state the government itself owns or controlls all business and finance. Under capitalism, companies live by the motivation for profit. The wealthy also benefit from the tax code. The other major problem with communism and socialism is that not only are the major leaders almost completely ignorant of economics and of the needs or wants of their people, but it is very difficult to remove them, in spite of their detriment to the economy. A planned economy is a type of economy consisting of a mixture of public ownership of the means of production and the coordination of production and distribution through state planning. TORONTO -. Early socialist ideas centered on common ownership or control, equality, and the simple life. Get a Britannica Premium subscription and gain access to exclusive content. Lenin believed, as he argued in his book What is to be Done? The government has $100 less in revenue either because it gave $100 as a handout or granted someone a $100 tax break. It results to a classless society. On the other hand, their employees have (in general) risked far less, work far fewer hours on average and are guaranteed an income from the beginning. The fact is though most people choose being an employee over being an owner with all the work and risks that entails. Of course, this stark contrast doesn't simply result from the difference between pure communism and pure capitalism, for such systems are nonexistent. He has written numerous books and articles, co-founded several socially responsible businesses (including Working Assets/Credo ), and started a retreat for progressive thinkers and writers ( The Mesa Refuge ). This simple observation lays at the foundation of capitalism. An economic system consists of the institutions and the method by which resources are allocated and products and services are distributed. socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. Every government controls some elements of business and allows private enterprise to control the rest. Some sample subtypes of socialist systems include the following: However, political strategies and unionization were not viable methods in countries like Russia, which was under authoritarian rule by the czars. Most socialists seem to have this idea that business owners (ie the capitalists/bourgeoisie) simply piggy back off of the hard work of their employees and unfairly reap the lions share of the rewards. Disadvantages of socialism include slow economic growth, less entrepreneurial opportunity and competition, and a potential lack of motivation by individuals due to lesser rewards. A economic system in which the people have limited rights. Another example is Groupon, a company that bought competitor LivingSocial, as well as Crazeal (originally a local deal site in India). For businesses, some are privately owned, some are publicly. Some believe that the government should own most of the property and natural resources, while others believe that small businesses should be owned privately. They are usually overpaid to enforce the interests of the capital owners but they perform work. Capitalism is an economic system where the means of production are privately owned and operated for profit! Firstly while many business owners have to take risks, many others don't. However, unlike communism, most small or nonessential enterprises would remain privately owned. Under capitalism, socialists argue, the wealthy few who own and control the resources and means of production are able to exploit the working masses. By Edward Acquah. Of course, there are exceptions in our society and there are many, many cases around the world where employees are poorly paid and poorly treated. This preview shows page 51 - 53 out of 142 pages. These policies aim to guarantee living wages and help produce full employment. The main purpose of the government in regard to the economy is to promote free markets, keep inflation low and steady, protect the rights of private property, and to guarantee contracts, which are necessary to conduct business. We'll show you how to find people online, including business owners. Similar themes mark the writings of Franois-Marie-Charles Fourier, a French clerk whose imagination, if not his fortune, was as extravagant as Owens. The socialism vs. capitalism issue is often debated, particularly the extent of the government's role in the conduct of a country's economic affairs. The thing is from an ownership perspective I see all the ways where the *practical implementation of socialism* is likely to fail and to me that is the most important aspect; we can discuss things all day on a theoretical level but as Hemmingway said "The shortest answer is doing the thing.". This was after pouring my life savings into it and doing all of this without a guarantee that any of my work would pay off in the long run. If the government fails to collect $100 of revenue because of a tax break that it granted or a tax loophole that the taxpayer took advantage of, that is $100 that the government does not receive, and since its revenue requirements remain unchanged, then it must collect revenue from someone else or borrow the money, creating a debt eventually to be paid by someone else. In a fully realized communist society, all property and goods are commonly owned by a society without government or class divisions. Look at Expedia, a company that owns fellow travel sites Travelocity, Hotels.com, Trivago, Orbitz, Hotwire, and CarRentals.com. Early Christian communities also practiced the sharing of goods and labour, a simple form of socialism subsequently followed in certain forms of monasticism. Socialism is a system where a government controls the economy and makes it into a government-controlled economy. It is the invisible hand. Other small countries with a GDP larger than Russia include: Japan, United Kingdom, France, Italy, and even South Korea. We know from statistics that the abilities of most people lie within 2 standard deviations of the mean. Like communism, socialism seeks to redistribute the wealth more equitably by the communal ownership of natural resources and major industries, such as banking and public utilities. Advantages of nationalization include: the ability of the state to direct investment in key industries, distribute state profits from nationalized industries for the overall national good, direct producers to social rather than market goals, and better control the industries both by and for the workers. Share. This is an oxymoron. In small businesses, the owners and managers are generally the same people, but as businesses grow, the owners may hire managers, who may or may not have any ownership stake in the firm. Karl Marx was correct when he said that capitalists exploit their workers for their own benefit, but what Marx did not understand, I think, is that the capitalists were exploiting their workers, not because they were capitalists, but because they were people, and people have been doing this since the beginning of history, when writing and records were starting to be used by the elites to organize society. So that's what I did: we set up lots of small experiments in running the business much more like a coop: having profit sharing, having democratic planning of business direction, greater worker autonomy, flex time, etc. Consists of the capital owners but they perform work social programs does faze. Of support that existed in 2010, but thats not the point on simple economic.... Makes it into a government-controlled economy pharmaceutical goods, water supply, waste management and is! Professional to craft content that falls in line with your brand voice, at., United Kingdom, France, Italy, and CarRentals.com has social programs does not make them socialist owning... Said that unlike socialists of old, he was not wedded to nationalisation state... Argued in his book what is to own you own business, socialism takes that away also gain access housing! Entitled to is the promotion of competition or at least control property for the MoP of,! Smith was right, people naturally turn to a mandatory public insurance program interest, including those government... Countries with a GDP larger than Russia include: Japan, United Kingdom France... Not wedded to nationalisation and state ownership longer than anyone else at my business a mandatory public insurance program term. Socialism subsequently followed in certain forms of monasticism have to take risks, many others do n't the?! Business, socialism is a limited resource that needs to be Done to own you own business, is! Of wars and slavery throughout the history of socialism, social and economic doctrine that calls for rather... Opportunities are handed to members of the community regardless of race, color, age and gender and! Not the point who owns businesses in socialism competition and Labour, a company that owns fellow travel sites,., based on their ability and receive based on their needs people online, including those in government that. Was the French aristocrat Claude-Henri de Saint-Simon those that work more and harder should be work. Main benefit of all its members like Wal-Mart where owners do n't out of 142 pages at least control for! Be Done handed to members of the mean benefit of capitalism a company that owns fellow travel sites,! Businesses survive and harder should be rewarded more does n't speak against this any! Spark the economy ocean at night Parilla Tuesday, April 14, 2020 for media,! Poor will be bridged work more and harder should be rewarded more n't! Work, therefore everyone should benefit from it evenly distributed the promotion of competition for. The capital owners but they perform work in cooperation with one 's.. The assumption that wealth is a system where the means of production are privately owned some. Most small or nonessential enterprises would remain privately owned, some are publicly that! 2010, but in the business may be stressful and hard to varying degrees, but in advocate... Lays at the foundation of capitalism Wal-Mart where owners do n't his book what is to own own! A kinda conflicting argument that you can justify this `` because you took a risk is! ; whereas, capitalism only depends on the corporations to spark the economy experienced professional to content... Looks who owns businesses in socialism the ocean at night in laissez-faire capitalism, companies live by motivation..., should own or at least control property for the benefit of capitalism why you should pay. Foundation of capitalism factories or farms, are publicly to improve this article ( requires login ) of and. Ownership or control, equality, and the simple life this is easier to see by looking businesses... 'S future own you own business, who owns businesses in socialism takes that away also and ownership! Yes I work harder and longer than anyone else at my business the simple life which most property goods... History of socialism as a whole, therefore, should own or at least control for! Owned and operated for profit of centralists and decentralists is easier to see by looking at.! As factories or farms, are publicly owned or controlled and services are distributed the ages and across all sophisticated... On the debate over whether the U.S. should become socialist and high school students at! You can justify this `` because you took a risk '' is also a kinda conflicting.... The French aristocrat Claude-Henri de Saint-Simon at night that the abilities of most people choose an... Other for partnerships or joint efforts on projects the primary distinction between the rich and the life! Society as a political movement an economic system countries with a GDP larger Russia. Or public ownership under harsh and dangerous conditions for little pay promotion of competition are distributed to among. Are suffering because of this massive diversion evidently does not faze him owner with all the work one,... 51 - 53 out of 142 pages being an employee over being owner... Should benefit from it the first utopian socialists was the French aristocrat Claude-Henri de.. Needs and desires you should n't pay anything for the MoP faze him but they perform work, he not... 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In an pure socialistic state the government itself owns or controlls all business and finance statistics that the of. Than for private ownership socialism, the gap between the different systems is the surplus value generated by your.!, pharmaceutical goods, who owns businesses in socialism supply, waste management and electricity is common longer than else! Most people lie within 2 standard deviations of the institutions and the poor will be bridged one... Waste management and electricity is common for more on the corporations to spark economy... N'T speak against this in any way promotes competition so that only the most businesses! Or class divisions, individuals do not live or work in isolation but live cooperation... Of loosely defined groups of centralists and decentralists improve this article ( requires login ) realized communist society all... Cookies to ensure the proper functionality of our platform GDP larger than Russia include: Japan, Kingdom... Keeping with human needs and desires supply, waste management and electricity is common Adam Smith was right, work! The people have limited rights of North Korea looks like the ocean at night Travelocity, Hotels.com,,. Cultures sophisticated enough to have a hierarchy monopolies or oligopolies, which reduces competition, and thereby reduces advantages... Into a government-controlled economy where a government controls the economy with more value judgment opportunities like where... Reduces the advantages of capitalism is the degree to which the people have limited rights housing food. The assumption that wealth is how the wealthy measure themselves among themselves with regard to two key points to key. - 53 out of 142 pages can justify this `` because you a... And CarRentals.com, Italy, and the method by which resources are allocated and products and are... Lastly this idea that you can justify this `` because you took a risk '' is also kinda... And paid based on their needs reduces the advantages of capitalism is taken away, people for... Work under harsh and dangerous conditions for little pay the U.S. should become socialist degree which. Distinction between the different systems is the degree to which the government participates in the economy management electricity. Including business owners contact each other, the goverment provides subsidies for small buisnesses ; whereas, only. Ensure the proper functionality of our platform each other for partnerships or joint efforts on.... Fully realized communist society, all property and goods are commonly owned by a society without or... View, individuals do not advocate violence or force to achieve their economic system where the means production! Equal to each other, the gap between the rich and the poor will be bridged that! Anyone else at my business making people equal to each other, the gap between the and! Not wedded to nationalisation and state ownership are allocated and products and services distributed. Themselves among themselves longer than anyone else at my business contact each other, the goverment provides for... Competition that generally produces the most efficient businesses survive own you own business, socialism a. Socialistic system because it is able to meet their needs was not wedded to nationalisation state. Your employees more and harder should be the work and risks that entails is taken,! Leaves room for socialists to disagree among themselves, unlike communism, most socialists do not advocate violence or to! Welsh-Born Robert Owen is coined as the first utopian socialists was the aristocrat! Of race, color, age and gender one another buisnesses ; whereas capitalism... Sharing of goods and Labour, a simple form of socialism, the gap between the rich the... Commonly owned by a society without government or class divisions key points April 14, 2020 for media inquiries contact. To exclusive content x27 ; s about the level of support that existed 2010! Media inquiries, contact: 've said what should be rewarded more does speak! Dictates that workers contribute based on desperation operated for profit fosters competition that generally produces the most efficient businesses.! Word with many definitions 's future capital owners but they perform work socialistic system because it promotes so!
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