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How to Run Powershell in Version 2 Mode?

In Windows Powershell for Developers, chapter 2, Getting Started, it says, "I can run PowerShell in version 2 mode; if possible, you should too."

So, how does one run Powershell in version 2 mode with version 3 installed?

Also, why would one want to run in version 2 mode, rather than the latest version?

Thanks
Bev in TX
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