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pl«t«d pfactlcM »r» h«ld up as models that ought to bs sfnulstad In ths rsgulatlon of privats 

 torssUsnds ^t^yn mansger* cannot asoapa tha raallUaa of tha bottom Una. This haa lad to 

 eaila fbr afthinating pftvate ownoiahip of tbreatlanda aMogathar so that al Ibrsata can bacoma 

 a comparabia budgat black hoia. To ma tha tha attanutlva anatwar aaems obvioua~ 

 pifwtiza tho natloflaJ foraata as tha only way to introduca afllcianoy and tha dIadpSna of tha 

 nfwitatplaoa into tha attuation. 



It eouW ba arguad that tha publcallon of alowaMa cuts on tha national Ibrasta m 

 yaam paat amountad to an impllad contract To laduca thoaa aHowabla harvaat lavala 

 aummariiy and unBatataUy la tantamount to a contFaet vtoiation. Altar aH, mvaatmants in 

 pfocaaaing capacity and worker Invoat m a nta In homaa w«r» meda in good tilth on tha baala 

 of thoaa pubHahad promiaea. Tho privata cotetarai In thaae tadotias hava bean draatlcaBy 

 wh«n IMenil aganclaa mnega on previous oommtmrnts. AB of thMa issuaa am a part of 

 What i hava oatod tha ooaxManca probiam. But t am far Horn tha tbst pareon to note thaaa 

 dlfncuiaaa. Mambara of Iho commfttaa ara urgad to axplDra tha phiioaophlcal iaauas Inwolvad 

 mthiamatiar. Thay could haidly do batter in doing ao to read two or ao of Friadrieh Hayaica 

 books; The Road To Saridom pubRshad in England m 1944. and Tha Fatal Conealt- Tha 

 EfTOfa of Bodflliam. publishad by tha Umvafstty of Chicago Preaa In 1886. 



Ona final point on tha value of tha propoaad buyout aspedaiiy tha Haadwotera 

 GfDve of old-growth redwoods. From an economto parspective the buyout makes sense only 

 if its value aa parkland* exceeds its value forthe paipatual production of timber vimieh market 

 faree* Mould provide lor. If it doeenl, thsn H ought to be ten tor timber productton In the 

 pftvate sector where Rwtti be etncienttynwnaged. if It does, then buying it out at the value of 

 the aaaet in oentJnuous timber production is a bargt^. But orte cannot have it both weye. 



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