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This paper presents an algebraic theory for analysis and design of linear multivariable feedback systems. The theory is developed in an algebraic setting sufficiently general to include, as special cases, continuous and discrete time systems, both lumped and distributed. Designs are implemented by construction of a controller with two vector inputs and one vector output. Use of controllers of this type is shown to generate convenient stability results, and convenient global parametrizations of all I/O maps and all disturbance-to-output maps achievable, for a given plant, by a stabilizing compensator. These parametrizations are then used to show that any such I/O map and any such disturbance-to-output map may be simultaneously realized by choice of an appropriate controller. In the special case of lumped systems, it is shown that the design theory. can be reduced to manipulations involving polynomial matrices only. The resulting design procedure is thus shown to be more efficient computationally. Finally, the problem of asymptotically tracking a class of input signals is considered in the general algebraic setting. It is shown that the classical results on asymptotic tracking can be generalized to this setting. Additionally, sufficient conditions for robustness of asymptotic tracking, and robustness of stability are developed.