Alfred Marshall: Elements of Economics of Industry

Marshall-Economics-ajk.txt o MyeBooksMenu o MyeBooks123 o MyeBooksAbc (20200119-0327)
Marshall-Economics-00.jpg
1.YhteenvedotReviewsРезюме
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2.SisällysluetteloContentsСодержание
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3.MuistiinpanotHighlightsПримечания
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4.SanastoVocabularyСловарь
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5.KielikuvatIdiomsИдиоми
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6.MääritelmätDefinitionsОпределения
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7.KirjanmerkitBookmarksЗакладки
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eng A supplement to Marshall's Principles of Economics o Ajk arvio muussa sivustossa
rus Дополнение к Принципам экономики Маршалла
fin Lisäys Marshallin Principles of Economic teokseen

eng A supplement to Marshall's Principles of Economics

These Marshall's works belong to the corner stones of economics. They rise Alfred Marshall to the Tribune and Round Table of Economics to join him only with such giants as Adam Smith and John Maynard Keynes. This work should be obligatory in courses of economics, also as a hundred page version already at the lowest level of study. And as an obligatory exam of admission to the table of negotiations between trade unions and employers.

In spite of the highest professional sophistication the text is extremely easy reading, completely comparable with my recent reading of Milton Friedman's monography on his Chile excursion, Friedman being another pretender to the above mentioned Round Table. It seems to be a feature of distinction that the highest professional level texts are also the easiest reading. Maybe just because of their mature profoundness and perspication, concentration to the essence.

Marshall, publishing since 1890's, is considered as the founder of neoclassical economics. What then are the main features of his contribution? - The introduction of marginalism and equilibrium analysis of the market economy. He is mainly operating in the field of microeconomics and more with static end results of the market processes than their dynamics. Real delicacies are his every day life examples of any high level principles. Different levels of working people's skills and durability of products are considered as well as natural surroundings and conditions. No trace of just dry speculation with abstract concepts.

A highly recommendable reading in spite of its more than a century of age, no question of less than five stars of assesment.

rus Дополнение к Принципам экономики Маршалла

Эти работы Маршалла принадлежат к краеугольным камням экономики. Они поднимают Альфреда Маршалла на трибуну и Круглый стол по экономике, чтобы присоединиться к нему только с такими гигантами, как Адам Смит и Джон Мейнард Кейнс. Эта работа должна быть обязательной на курсах экономики, а также в виде стостраничной версии уже на самом низком уровне обучения. А так же обязательный экзамен при приеме на стол переговоров между профсоюзами и работодателями.

Несмотря на высочайшую профессиональную изощренность, текст чрезвычайно легко читается, что вполне сопоставимо с моим недавним чтением монографии Милтона Фридмана о его экскурсии в Чили, где Фридман является еще одним претендентом на упомянутый выше Круглый стол. Кажется, что отличительной чертой является то, что тексты самого высокого профессионального уровня также легче читаются. Может быть, только из-за их зрелости и проницательности, сосредоточенности на сути.

Маршалл, издаваемый с 1890-х годов, считается основателем неоклассической экономики. Каковы же основные черты его вклада? - Внедрение маржинализма и равновесного анализа рыночной экономики. Он в основном работает в области микроэкономики и в большей степени со статическими конечными результатами рыночных процессов, чем с их динамикой. Настоящие деликатесы - это примеры из повседневной жизни любых принципов высокого уровня. Рассматриваются различные уровни навыков трудящихся и долговечность продукции, а также природная среда и условия. Никаких следов просто сухих спекуляций с абстрактными понятиями.

Настоятельно рекомендуется читать, несмотря на его более чем столетний возраст, не может быть и речи о пяти звездах оценки.

fin Lisäys Marshallin Principles of Economic teokseen

Nämä Marshallin teokset kuuluvat taloustieteen kulmakiviin. Ne nostavat Alfred Marshallin podiumille ja pyöreän pöydän ääreen liittäen hänet vain sellaisten jättiläisten seuraan kuin Adam Smith ja John Maynard Keynes. Tämän teoksen tulisi olla pakollinen taloustieteen kursseilla, myös sadan sivun versiona jo matalimmalla opiskelutasolla. Ja pakollisena kokeena pääsyyn ammattiliittojen ja työnantajien välisiin neuvottelupöytiin.

Huolimatta korkeimmasta ammatillisesta hienostuneisuudesta, teksti on erittäin helppo lukea, täysin verrattavissa äskettäin lukemaani Milton Friedmanin monografiaa Chilen retken aikana, Friedman oli toinen teeskentely edellä mainitulle pyöreän pöydän pöydälle. Erottamiskyky näyttää siltä, ​​että korkeimman tason tekstit ovat myös helpointa lukea. Ehkä vain heidän kypsän syvällisyytensä ja hikoilunsa vuoksi keskittymisensä olennaisuuteen.

Marshallia, joka on julkaissut vuodesta 1890 lähtien, pidetään uusklassisen taloustieteen perustajana. Mitkä ovat hänen panoksensa pääpiirteet? - Marginaalisuuden ja markkinatalouden tasapainoanalyysin käyttöönotto. Hän toimii pääasiassa mikrotalouden alalla, ja hänellä on enemmän markkinaprosessien staattisia lopputuloksia kuin niiden dynamiikkaa. Oikeat herkut ovat hänen jokapäiväisen elämän esimerkkejä kaikista korkean tason periaatteista. Työntekijöiden taidot ja tuotteiden kestävyys otetaan huomioon luonnollisessa ympäristössä ja olosuhteissa. Ei jälkeä vain kuivasta keinottelusta abstraktien käsitteiden kanssa.

Erittäin suositeltava lukeminen yli vuosisadan ikäisistä huolimatta, kyse ei ole alle viidestä arviointitähdestä.
Pagetop

Huomautukset Remarks Замечания

20191227-Kindle

I cannot enough praise and congratulate you for the present structure and size of the screen of 12x60 characters. To my great satisfaction, using scrolling mode i see again the bottom line information. Decided to try Wordwise as a replacement for dictionary. Minimun gives suitable refreshment of certain terms. Touching gives mlre öreckse definition and possibility to gratefully accepted feedback - very nice! The only disadvantage is no possibility of conveying the information to outside notes. Why i am suggesting the use of epage instead of location? Epage is accurate enough and allows the reader to use one digit less in marking the location in the own memo.

Anyway, thank you very much for the recent improvements from the point of view of MyeBooks. I have decided to try also your card deck system. Wondering now how far it can be then used outside the book it concerns as it can be done with MyeBooks as a shrine of my entire reading history. http://www.askokorpela.fi/AjkMye/ajk/MyeBooksEng.htm
20200101-Kindle

1. Painting should be as thin as possible. Completely outrageous the change to dimmed mode.

2. No automatic disappearance of painting should be applied beefore returning from the carousel.

3. Word wise definitions should automatically go to clipboard! Completely foolish idea of just showing, but not giving.

20200108-Kindle

1. Good idea! Small summary tables appeared to the text about half way of the book. Only rather poor actualization! Where on earth can this font be found? Perhaps in books over 400 years old. Almost impossible to read. Uneven space.

2. Percentage of the total amount of text at the beginning of bottomline, a good idea too. But how much nicer it would be folowed by epage number in stead of the stupid ephemere location, long word and many digits with no connection to concrete reality like page numbers. Location should urgently be replaced by page!

3, This book is obviously a combination of two different paper editions joined at about half way. Big confusion of chapter headings revealed in the table of contents. Should be corrected. The text deserves it.

20200110-Kindle

Praise and congratulations! Kindle has by far surpassed the last stronghold of paperbooks: leafing to and fro in the book. I almost managed to return to the spot from where I started.
20200112-Kindle

Squared summaries is a very good idea, but the font must be readable. Why not use the same as in the main text, but in small size. Reading the present completely inacceptable takes as long time as the whole screen. In my case it has led to paying no attention to the summary squares, a pity for their composers! Pagetop

Parametre lines at the beginning of the reader notes
1. Marshall-Economics-ajk,$2.47#enrufi???
2. 1,7835,456,eco,eng,20180705,20201232,5,Alfred Marshall: Elements of Economics of Industry???
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4. eng Link to Ajk review at source of purchased ebook...???
Marshall-Economics-ajk.txt o MyeBooks-guide

Sisällysluettelo Contents Содержание (Code: (1,2,3,4,5))

110001 PREFACE TO THE FIRST EDITION
140002 Summary of Contents
3001 BOOK I PRELIMINARY SURVEY
300101 CHAPTER I INTRODUCTION
380102 CHAPTER II THE GROWTH OF FREE INDUSTRY AND ENTERPRISE
400103 CHAPTER III THE GROWTH OF FREE INDUSTRY AND ENTERPRISE, CONTINUED
500104 CHAPTER IV THE GROWTH OF ECONOMIC SCIENCE
550105 CHAPTER V THE SCOPE OF ECONOMICS
630106 CHAPTER VI METHODS OF STUDY NATURE OF ECONOMIC LAW
690107 CHAPTER VII SUMMARY AND CONCLUSION
7302 BOOK II SOME FUNDAMENTAL NOTIONS
730201 CHAPTER'S I INTRODUCTORY
740202 CHAPTER II WEALTH
770203 CHAPTER III PRODUCTION, CONSUMPTION, LABOUR, NECESSARIES
810204 CHAPTER IV CAPITAL, INCOME
8703 BOOK III DEMAND AND CONSUMPTION
870301 CHAPTER I INTRODUCTORY
880302 CHAPTER II THING, IMMEDIATE AND DEFERRED USES
910303 CHAPTER III THE LAW OF DEMAND
970304 CHAPTER IV LAW OF DEMAND, CONTINUED, ELASTICITY OF DEMAND
1050305 CHAPTER VI VALUE AND UTILITY
11204 BOOK IV THE AGENTS OF PRODUCTION LAND, LABOUR, CAPITAL AND ORGANIZATION
1120401 CHAPTER I INTRODUCTORY
1150402 CHAPTER II THE FERTILITY OF LAND
1190403 CHAPTER III THE FERTILITY OF LAND, CONTINUED THE LAW OF DIMINISHING RETURN
1300404 CHAPTER IV THE GROWTH OF POPULATION
1370405 CHAPTER V THE HEALTH AND STRENGTH OF THE POPULATION
1440406 CHAPTER VI
1510407 CHAPTER III THE FERTILITY OF LAND, CONTINUED THE LAW OF DIMINISHING RETURN
1590408 CHAPTER IV THE GROWTH OF POPULATION
1620409 CHAPTER V THE HEALTH AND STRENGTH OF THE POPULATION
1690410 CHAPTER VI
1690411 CHAPTER X INDUSTRIAL ORGANIZATION CONTINUED THE CONCENTRATION OF SPECIALIZED INDUSTRIES IN PARTICULAR LOCALITIES
1780412 CHAPTER XI INDUSTRIAL ORGANIZATION, CONTINUED PRODUCTION ON A LARGE SCALE
1780413 CHAPTER XIL INDUSTRIAL ORGANIZATION, CONTINUED BUSINESS MANAGEMENT
1920414 CHAPTER XIII CONCLUSION THE LAW OF INCREASING IN RELATION TO THAT OF DIMINISHING RETURN
19605 BOOK V THE EQUILIBRIUM OF DEMAND AND SUPPLY
1960501 CHAPTER I ON MARKETS
2010502 CHAPTER II TEMPORARY EQUILIBRIUM OF DEMAND AND SUPPLY
2030503 CHAPTER III EQUILIBRIUM OF NORMAL DEMAND AND SUPPLY
2100504 CHAPTER IV INVESTMENT OF RESOURCES FOR A DISTANT RETURN PRIME COST AND TOTAL COST
2130505 CHAPTER V EQUILIBRIUM OF NORMAL DEMAND AND SUPPLY, CONTINUED THE TERM NORMAL WITH REFERENCE TO LONG AND SHORT PERIODS
2200506 CHAPTER VI JOINT AND COMPOSITE DEMAND JOINT AND COMPOSITE SUPPLY
2250507 CHAPTER VII PRIME AND TOTAL COST IN RELATION TO JOINT PRODUCTS COST OF MARKETING; INSURANCE AGAINST RISK
2280508 CHAPTER VIII CHANGES OF DEMAND AND SUPPLY MONOPOLIES[
23106 BOOK VI VALUE, OR DISTRIBUTION AND EXCHANGE
2310601 CHAPTER I PRELIMINARY SURVEY OF DISTRIBUTION AND EXCHANGE
2420602 CHAPTER II PRELIMINARY SURVEY OF DISTRIBUTION AND EXCHANGE, CONTINUED
2530603 CHAPTER III DEMAND AND SUPPLY IN RELATION TO LAUOUR REAL AND NOMINAL EARNINGS
2610604 CHAPTER IV DEMAND AND SUPPLY IN RELATION TO LABOUR CONTINUED
2680605 CHAPTER V DEMAND AND SUPPLY IN RELATION TO LABOUR CONCLUDED
2730606 CHAPTER VI DEMAND AND SUPPLY IN RELATION TO CAPITAL A FURTHER STUDY OF INTEREST
2770607 CHAPTER VII DEMAND AND SUPPLY IN RELATION TO CAPITAL BUSINESS POWER AND INDUSTRIAL ORGANIZATION
2840608 CHAPTER VIII DEMAND AND SUPPLY IN RELATION TO CAPITAL AND BUSINESS POWER, CONCLUDED
2910609 CHAPTER IX DEMAND AND SUPPLY IN RELATION TO LAND PRODUCER'S SURPLUS
2940610 CHAPTER X DEMAND AND SUPPLY IN RELATION TO LAND CONTINUED LAND TENURE
3030611 CHAPTER XI GENERAL VIEW OF DISTRIBUTION
3140612 CHAPTER XII THE INFLUENCE OF PROGRESS ON VALUE
3400613 CHAPTER XIII TRADE UNIONS
3700614 End of ELEMENTS OF ECONOMICS OF INDUSTRY
Pagetop

Muistiinpanot Highlights Примечания (Code: h)

1 (10)
Marshall founded the "Cambridge School" which focused on to increasing returns, the theory of the firm, and welfare economics. After his retirement, leadership was passed to Alfred Pigou and John Maynard Keynes, two of his students at Cambridge.
2 (10)
Marshall’s academic legacy was creating a scientifically founded profession for economists in modern society.
3 (36)
The term "competition" is then not well suited to describe the special characteristics of industrial life in the modern age. We need a term that does not imply any moral qualities, whether good or evil, but which indicates the undisputed fact that modern business is characterized by more self-reliant habits, more forethought, more deliberate and free choice. There is not any one term adequate for this purpose: but FREEDOM OF INDUSTRY AND ENTERPRISE, or more shortly, ECONOMIC FREEDOM, points in the right direction, and may be used in the absence of a better.
4 (36)
"The word value" says Adam Smith "has two different meanings, The one may be called value in use, the other value in exchange." In the place of "value in use" which is a misleading expression, we now speak of "utility;" while instead of "value in exchange" we often say "exchange value" or simply "value".
5 (49)
Thus gradually we may attain to an order of social life, in which the common good overrules individual caprice, even more than it did in the early ages before the sway of individualism had begun.
6 (61)
so a manufacturer or a trader is often stimulated much more by the hope of victory over his rivals than by the desire to add something to his fortune.
7 (69)
Economics has then as its purpose firstly to acquire knowledge for its own sake, and secondly to throw light on practical issues.
8 (69)
we are tempted to break off each line of thought as soon as it ceases to have immediate bearing on that particular aim which we have in view at the time: the direct pursuit of practical aims leads us to group together bits of all sorts of knowledge, which have no connection with one another except for the immediate purposes of the moment; and which throw but little light on one another.
9 (69)
Economics is then the science which investigates mans action in the ordinary business of life.
10 (71)
Taking it for granted that a more equal distribution of wealth is to be desired, how far would this justify changes in the institutions of property, or limitations of free enterprise even when they would be likely to diminish the aggregate of wealth? In other words, how far should an increase in the income of the poorer classes and a diminution of their work be aimed at, even if it involved some lessening of national material wealth? How far could this be done without injustice, and without slackening the energies of the leaders of progress? How ought the burdens of taxation to be distributed among the different classes of society?
11 (72)
Economics is thus taken to mean a study of the economic aspects and conditions of man's political, social and private life; but more especially of his social life.
12 (73)
better described as Social Economics, or as Economics simply, than as Political Economy[
13 (78)
And here we may note that Goods may be divided into CONSUMPTION GOODS[37], which satisfy wants directly, such as food, clothes, etc. ; and PRODUCTION GOODS which satisfy wants, not directly, but indirectly by contributing towards the production of consumption goods.
14 (77)
And though the Thames is a free gift of nature, except in so far as its navigation has been improved, while the canal is the work of man, we ought for many purposes to reckon the Thames a part of England's wealth[35].
15 (78)
All that he can do in the physical world is either to re-adjust matter so as to make it more useful, as when he makes a log of wood into a table;
16 (78)
And here we may note that Goods may be divided into CONSUMPTION GOODS[37], which satisfy wants directly, such as food, clothes, etc. ; and PRODUCTION GOODS which satisfy wants, not directly, but indirectly by contributing towards the production of consumption goods.
17 (98)
The elasticity of demand will be great for high prices, and great or at least considerable for medium prices, but it will decline as the price falls; and gradually fades away if the fall goes so far that satiety level is reached.
18 (99)
But the working class is so numerous that their consumption of such things as are well within their reach is much greater than that of the rich; and therefore the aggregate demand for all things of the kind is very elastic.
19 (106)
ices are very much below those which many people would pay rather than go entirely without them; and which therefore afford a very great Consumers' Rent. Good instances are matches, salt, a penny newspaper, or a penny postage-stamp.
20 (110)
ices are very much below those which many people would pay rather than go entirely without them; and which therefore afford a very great Consumers' Rent. Good instances are matches, salt, a penny newspaper, or a penny postage-stamp.
21 (123)
The dose which only just remunerates the cultivator may be said to be the MARGINAL DOSE, and the return to it the MARGINAL RETURN.
22 (145)
perception and artistic creation, we may say that what makes one occupation higher than another, what makes the workers of one town or country more efficient than those of another, is chiefly a superiority in general sagacity and energy which is not specialized to any one trade.
23 (146)
advance made during school-time is important not so much on its own account, as for the power of future advance which a school education gives. Heading and writing afford the means of that wider intercourse which leads to breadth and elasticity of mind, and which is enabling the working man of today to be as capable a citizen as was the country gentleman of last century.
24 (152)
The whole history of man shows that his wants expand with the growth of his wealth and knowledge.
25 (160)
economists have learnt much from the profound analogies which have been discovered between industrial organization on the one side and the physical organization of the higher animals on the other.
26 (165)
But this industry is now yielding ground to the American system of making watches by machinery, which requires very little specialized manual skill. In fact the machinery is becoming every year more and more automatic, and is getting to require less and less assistance from the human hand.
27 (196)
The purpose of the present book is to examine the general conditions of the equilibrium of demand and supply:
28 (200)
These sales on the one hand, and purchases on the other, strengthen the tendency which the price has to seek the same level everywhere.
29 (229)
It is indeed a familiar commonplace that the owner of a monopoly is tempted to limit his supply so as to raise his price very high, and reap benefits for himself at the expense of the public.
30 (242)
Just in the same way, when several balls are lying in a bowl, they mutually govern one another's positions. And again when a heavy weight is suspended by several elastic strings of different strengths and lengths attached to different points in the ceiling, the equilibrium positions of all the strings and of the weight mutually govern one another: if any one of the strings that is already stretched is shortened, everything else will change its position, and the length and the tension of every other string will be altered also.
31 (243)
It is more important to insist that in the long run the supply of efficient labour is very closely dependent on the rate of earnings and the manner in which they are spent.
32 (245)
The various elements of the problem mutually determine (in the sense of governing) one another; and incidentally this secures that supply-price and demand-price tend to equality: wages are not governed by demand-price nor by supply-price, but by the whole set of causes which govern demand and supply[149].
33 (252)
To conclude: -- capital in general and labour in general are agents co-operating in the production of the national dividend, and drawing from it their earnings in the measure of their respective (marginal) efficiencies in production.
34 (252)
In the modern world, the employer, or undertaker, who may have but little capital as his own, acts as the boss of the great industrial wheel. The interests of owners of capital and of workers radiate towards him and from him: and he holds them all together in a firm grip. He will therefore take a predominant place in those discussions of fluctuations of employment and of wages, which are defer4149,b,20200108: + 41 = 241 = 53% 7836/456=17,2
35 (262)
and when he sells them he gets a price which is the estimated net value of their future services.
36 (264)
The most valuable of all capital is that invested in human beings; and of that capital the most precious part is the result of the care and influence of the mother, so long as she retains her tender and unselfish instincts, and has not been hardened by the strain and stress of unfeminine work.
37 (283)
Thus then each of the many modern methods of business has its own advantages and disadvantages: and its application is extended under the action of the Law of Substitution in every direction until that limit or margin is reached, at which its special advantages for that use no longer exceed its disadvantages.
38 (323)
Political Arithmetic may be said to have begun in England in the seventeenth century; and from that time onwards we find a constant and nearly steady increase in the amount of accumulated wealth per head of the population.
39 (323)
This increase of capital per head tended to diminish its marginal utility, and therefore the rate of interest on new investments; but not uniformly, because there were meanwhile great variations in the demand for capital, both for political and military and for industrial purposes. Thus the rate of interest which was vaguely reported to be 10 per cent, during a great part of the Middle Ages, had sunk to 3 per cent, in the This increase of capital per head tended to diminish its marginal utility, and therefore the rate of interest on new investments; but not uniformly, because there were meanwhile great variations in the demand for capital, both for political and military and for industrial purposes. Thus the rate of interest which was vaguely reported to be 10 per cent, during a great part of the Middle Ages, had sunk to 3 per cent, in the great recent accumulations of wealth in England, on the Continent, and above all in America.u
40 (326)
example of unskilled labourers, whose natural inclination to marry early has always been encouraged by the desire that their family expenses may begin to fall off before their own wages begin to shrink.
41 (328)
the late Mr Vanderbilt, they were earned mainly by the supreme economizing force of a great constructive genius working at a new and large problem with a free hand: and Mr Vanderbilt probably saved to the people of the United States more than he accumulated himself.
42 (348)
Can Unions really make economic friction act for the workman instead of against him? Are the means which they take for this purpose injurious to production and therefore indirectly to the workman? If the answers to both these questions are affirmative, is the good on the whole greater or less than the evil?
43 (356)
work varies so much from bench to bench and from day to day that no regular tariff can be devised; and piece-work degenerates into contract work, in which the individual workman has to bargain alone with his employer.
44 (398)
Ricardo's famous phrase "the original and indestructible powers of the soil."
45 (406)
Adam Smith tells us that "workmen, when they are liberally paid, are very apt to overwork themselves and to ruin their health and constitution in a few years. A carpenter in London, and in some other places, is not supposed to last in his utmost vigour above eight years….
Pagetop

Sanasto Vocabulary Словарь (Code: w)

1 abstemiousness (157)
2 calico weaving (192)
3 costermongers (275)
4 calico (318)
kalikoo?? Kilpikonnakuvioinen kissa
5 peck (319)
nokkia
6 vexation (343)
harmi
7 Metayage (438)
Cultivation of land for a proprietor by one who receives a proportion of the produce
Pagetop

Kielikuvat Idioms Идиоми (Code: i)

1 They paid very little heed to the assistance (127)
2 took too little account of the fact that human faculties (156)
Pagetop

Määritelmät Definitions Определения (Code: d)

1 (82)
Adam Smith
said that a person's capital is that part of his stock from which he expects to derive an income.
2 (106)
But the working class is so numerous that their consumption of such things as are well within their reach is much greater than that of the rich; and therefore the aggregate demand for all things of the kind is very elastic.
said that a person's capital is that part of his stock from which he expects to derive an income.
3 (377)
"law" in the sense of an ordinance of government; not in the sense of a scientific statement of connection between cause and effect.
said that a person's capital is that part of his stock from which he expects to derive an income.
Pagetop

Kirjanmerkit Bookmarks Закладки (Code: b)

120180714+11p=11p2%*
220191227+39p=50p11%******
320191228+19p=69p15%********
420191229+22p=91p20%**********
520191230+21p=112p25%************
620200101+66p=178p39%********************
720200106+23p=201p44%**********************
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Pagetop

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