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The key to understanding economic fluctuations lies in the interaction between technology shocks and the decisions of households and firms.
理解经济波动的关键在于技术冲击与家庭和企业决策之间的相互作用。
芬恩·基德兰德
Business cycles are not merely fluctuations around a deterministic trend; they represent shifts in the trend itself.
经济周期不仅仅是围绕确定性趋势的波动;它们代表了趋势本身的转变。
芬恩·基德兰德
The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have formed expectations.
货币政策中的时间不一致性问题出现在政策制定者一旦经济主体形成预期后,就有动机偏离他们宣布的政策。
芬恩·基德兰德
Constitutional constraints are the rules that allow us to live together in peace.
宪法约束是让我们和平共处的规则。
詹姆斯·布坎南
The bureaucrat’s utility function includes the size of his budget as an argument.
官僚的效用函数中包括其预算规模作为一个参数。
詹姆斯·布坎南
Individuals do not act so as to maximize utilities described in independently-existing functions.
个人行为并非为了最大化独立存在的效用函数。
詹姆斯·布坎南
The market is not a substitute for self-government.
市场不能替代自治。
詹姆斯·布坎南
The market is not a substitute for government, nor is government a substitute for the market.
市场不能替代政府,政府也不能替代市场。
詹姆斯·布坎南
Constitutional economics is a research program that examines the choice of constraints as opposed to choices within constraints.
宪政经济学是一个研究约束选择而非约束内选择的研究计划。
詹姆斯·布坎南
Individuals do not act so as to maximize the social welfare.
个人的行为并非以社会福利最大化为目标。
詹姆斯·布坎南
The bridge between the purely economic and the purely political is the theory of public choice.
纯粹经济学与纯粹政治学之间的桥梁是公共选择理论。
詹姆斯·布坎南
Constitutional constraints are the rules that prevent the strong from exploiting the weak.
宪法约束是防止强者剥削弱者的规则。
詹姆斯·布坎南
The state is not a philanthropic institution; it is an organization of coercion.
国家不是一个慈善机构;它是一个强制组织。
詹姆斯·布坎南
The idealized role of the economist is to clarify the alternatives that confront society, not to make the choices for society.
经济学家的理想角色是澄清社会面临的替代方案,而不是为社会做出选择。
詹姆斯·布坎南
The bridge between the individual and the collective is constructed from the materials of mutual agreement.
个人与集体之间的桥梁是由相互同意的材料构建的。
詹姆斯·布坎南
Politics without romance is the art of the possible.
没有浪漫的政治是可能的艺术。
詹姆斯·布坎南
Technological change is not exogenous; it is the result of deliberate actions taken by people who respond to market incentives.
技术变革不是外生的;它是人们对市场激励做出反应而采取的有意行动的结果。
保罗·罗默
The most important ideas are those that allow us to use existing resources in new and more productive ways.
最重要的思想是那些让我们以新的、更高效的方式利用现有资源的想法。
保罗·罗默
The key to growth is not the accumulation of physical capital, but the expansion of knowledge.
增长的关键不是物质资本的积累,而是知识的扩展。
保罗·罗默
Technology is the set of instructions that we use to rearrange the physical world to create value.
技术是我们用来重新安排物理世界以创造价值的指令集。
保罗·罗默
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