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1 10 of the point is not how you want to evaluate Something Like raising the minimum wage. The final point in terms of the internationalization, is that we know crosssectional he and crosscountry, and someone else touched on this emphasizing collectivebargaining, i will emphasize the outcomes. That majority, not just european countries, including some of the asian and richer latinamerican countries, where the wage gap is much smaller and they managed to export and have relatively large labor force participation. Labor force participation has actually gone up in western europe, even including germany. It is not this iron law that if you pay more you cease to do business. It doesnt mean you always pay more, that it might. So, with that in mind, or more importantly what our panelist seven mind, let me open up the floor for questions or comments. Please these first two people. First to nancy and then to this gentleman. Please identify ....

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