经济学人:代代叠加:投机泡沫(1)
A third, more anarchic way to transfer resources from young to old is a speculative bubble. 第三种、同时也是更为无序地将资源从年轻人转移到老年人的方式是投机泡沫。 In a bubble, people pay over the odds for an asset,
经济学人:代代叠加:投机泡沫(2)
Recent research is less definitive. 近来的研究少了一些确定性。 Franois Geerolf of the University of California, Los Angeles believes that Japan suffers from dynamic inefficiency. 洛杉矶加州大学的弗朗索瓦吉奥尔夫认为，日
经济学人:投资者:谨慎责无旁贷(1)
Finance and Economics 财经 Buttonwood: Investor Caution Obligatory 梧桐树专栏：投资者，谨慎责无旁贷 A new craze attracts the attention of regulators 一场新的狂热引起监管者的关注 Here is the deal. 有这样一笔买卖。
经济学人:投资者:谨慎责无旁贷(2)
Nothing makes individuals more willing to take risks than the sight of other people getting rich. 没有什么能比眼看着别人发财致富而让个人更愿意承担风险了。 But bitcoin is also different from ICOs. 但是，比特币也不同于
经济学人:周期轮回:下一场金融危机或被央行触发(1)
Finance and Economics 财经 Buttonwood: When the cycle turns 梧桐树专栏：周期轮回 The next financial crisis may be triggered by central banks. 下一场金融危机或被央行触发。 As with London buses, don't worry if you miss a finan
经济学人:周期轮回:下一场金融危机或被央行触发(2)
Debt is used to finance the purchase of assets, and the greater availability of credit pushes asset prices higher. 债务被用来资助资产购买，而且债务的可得性的增大也把资产价格推得更高。 From time to time, however, lend
经济学人:自由交流:疯狂，恐慌和ICO(1)
Finance and Economics 财经 Free exchange: Manias, panics and ICOs 自由交流：疯狂，恐慌和ICO Crypto-coin mania illustrates the crazy and not-so-crazy sides of bubbles. 加密货币狂热诠释了泡沫的疯狂一面和不那么疯狂的一
经济学人:自由交流:疯狂，恐慌和ICO(2)
This looks like irrationality in action, bound to end in tears. 这看上去想是行动方面的不理性，注定要在泪水中收场。 Why, then, should the party continue? 那么，为什么这场盛宴应当继续下去呢？ Manias are as old
经济学人:自由交流:疯狂，恐慌和ICO(3)
Human quirks also play a role. 人类的怪癖也起到一定的作用。 Robert Shiller, who helped create the subfield now known as behavioural finance (and won a Nobel prize), reckons that ideas about markets spread like an epidemic. 曾为如今以
经济学人:合理的怀疑:信用卡账单到了(1)
Finance and Economics 财经 Free exchange: Reasonable doubt 自由交流：合理的怀疑 Richard Thaler wins the Nobel prize for economic sciences 理查德赛勒赢得诺贝尔经济学奖 The credit-card bill arrives. 信用卡账单到了。 Yo
经济学人:合理的怀疑:信用卡账单到了(2)
Mr Thaler, an American born in New Jersey in 1945, spent most of his early career at Cornell University before moving to the University of Chicago in 1995. 赛勒，这位1945年出生在新泽西州的美国人，在1995年转投芝加哥大学之前，
经济学人:合理的怀疑:只见部分,不辩总体(1)
The importance of context also arose in Mr Thaler's work on mental accounting. 背景的重要性还出现在了赛勒有关心理演算（mental accounting）的研究中。 In thinking about money, people tend to compartmentalise, grouping certain
经济学人:合理的怀疑:只见部分,不辩总体(2)
Making enrolment in pension plans the default for new employees 例如，把加入养老金计划列为新员工的默认选项 (ie, they must decide to opt out rather than opt in) dramatically increases the share of employees saving through such pro
经济学人:自由交流:丰厚的回报(1)
Finance and Economics 财经 Free Exchange: Many happy returns 自由交流：丰厚回报 A new data trove helps reshape how the economy is understood. 新的数据宝藏有助于重塑经济体被如何理解。 Data-gathering is the least sexy par
经济学人:自由交流:丰厚的回报(2)
Theirs is the first such data set to gather all of that information for so many countries over so long a period. 他们的成果是收集这么多国家在这么长的时间内的所有这种信息的第一批这样的数据集。 As such, the author
