It is elementary that, Jean-Jacques Rousseau's ringing opening to The Social Contract notwithstanding, people are definitely not "born free," let alone autonomous. Indeed, quite to the contrary, they are born very unfree, highly dependent, and conspicuously heteronomous. What freedom, independence, and autonomy people have in a given historical period is the product of long social traditions and, yes, a collective development -- which is not to deny that individuals play an important role in that development, indeed are ultimately obliged to do so if they wish to be free. - Murray Bookchin, Social Anarchism or Lifestyle Anarchism: An Unbridgeable Chasm


A company that purchases securities (usually fixed income) and sells shares representing proportional interest in the portfolio of those securities. The trust is liquidated when the securities mature.


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