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Elements of the alternative approach to hard collisions of photons, proposedrecently by the author, are reviewed, with particular attention to QCD analysisof $F^{\gamma}_2$. This approach is based on clear separation of genuine QCDeffects from those of pure QED origin and does not rely on the assumption thatparton distribution functions of the photon behave as $\alpha/\alpha_s$. Itdiffers significantly from the conventional one, as illustrated on the exampleof charm contribution to $F_{2}^{\gamma}$, recently measured at LEP.Comment: 6 pages, Latex using aipproc macros, 2 eps figure

QCD analysis of F[sub 2][sup γ](x,Q[sup 2]): an unconventional view