Is the developed world suffering a babysitting co-op recession? The parallels are not exact - for one thing, the authorities in the US and the UK have hardly been slow to create new money - but they are close enough to be instructive. The babysitting co-op's income equalled its spending; when everyone tried to earn more but spend less, the laws of arithmetic intervened.
发达国家是否正遭遇类似这个保姆合作社那样的衰退?这样的类比并不确切——美国和英国政府印制新钞票的动作很难算的上缓慢——但这两个例子有一定的相似性,因而具有启发意义。这家保姆合作社的收入与支出相等;当所有人都试图增加收入、减少支出时,算术法则就起作用了。
Since the world's total income also equals the world's total expenditure, who is going to do the spending when consumers start trying to save up? Krugman says it will have to be governments.
全球总收入也与全球总支出相等,当消费者开始努力存钱时,谁来增加支出?克鲁格曼回答,必须是政府。
The case is not quite as open-and-shut as it was for the babysitting co-op, although he has a point. Business investment or housing could, in principle, take up some slack, but it is hardly a propitious time for that sort of thing.
尽管他说得有道理,但这里面的理由不像那家保姆合作社的故事那样让人一目了然。基本上,商业投资或住宅投资可以起到一定的拉动作用,但现在对这类投资来说并不是有利的时机。
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