If they came to be accepted as the guiding principles of European policy, Europe’s economy would become petrified, with stagnant growth making it impossible to afford even modest levels of social transfers.

如果它们成为欧洲政策的指导方针，那么欧洲的经济将会变得僵化、停滞不前，从而无法支付即使是温和程度的社会资金转移。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010

But gold is stagnant, while capital is productive.

但问题是黄 金无法流动，而资本却可以再生。

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010

© Project Syndicate 1995 – 2011

http://www.project-syndicate.org/ 28.10.2010