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If people cannot find jobs because they have outdated skills—think hand weavers after the invention of the loom—they might become “structurally” unemployed.
如果人們是因為具有過時的技能而不能找到工作——想想織布機發明之后的手工織布工——他們可能變得“結構性地”失業(structurally unemployed).
But it is the trade-off between unemployment and inflation that most preoccupies central bankers.
但是，最讓央行銀行家勞心費神的是失業和通脹之間的那種取舍。
John Maynard Keynes, the great British economist, took a first step towards the natural-rate hypothesis when he focused minds on “involuntary” unemployment.
偉大的英國經濟學家凱恩斯在關注“非自愿性”失業(involuntary unemployment)時，邁出了通往自然比率假設的第一步。
In his book “The General Theory”, published in 1936 in the aftermath of the Depression, Keynes noted that many people could not find jobs at the going wage, even if they had comparable skills to those in work.
在他的那本在大蕭條之后的1936年出版的《通論》一書中，凱恩斯指出，許多人哪怕是擁有與在職之人不相上下的技能，也不可能以現有的工資找到工作。
Classical economics blamed artificially high wages, perhaps caused by trade unions.
古典經濟學將其歸咎于人為的高工資，這種高工資可能是由工會造成的。
But Keynes pointed to lacklustre economy-wide spending.
但是，凱恩斯直指死氣沉沉的整個經濟體的開支。
Even if wages fell, he reasoned, workers would have less to spend, making the demand deficiency worse.
他分析道，盡管工資降了，但是，工人可以花錢的地方也會減少，令需求不足更加嚴重。他
The answer, he thought, was for governments to manage aggregate demand in order to keep employment “full”.
認為，對政府來說，答案是管理總需求，以保持就業是“完全的”(full)。
Keynes was not the father of all that is now thought of as “Keynesian”.
凱恩斯不是現在被認為是“凱恩斯學派”的全部內容之父。
Inflation, for instance, barely entered his analysis of unemployment.
例如，通脹幾乎沒有進入他的失業分析。
But by the late 1960s Keynesianism had become associated with the idea that when managing aggregate demand, policymakers are not just choosing a rate of unemployment.
但是，到上世紀60年代，凱恩斯主義已經與決策者在管理總需求時不單單是在選擇一種失業率的思想變得密不可分了。
They are simultaneously choosing how fast prices rise.
他們同時還在選擇物價漲得有多快。
譯文來源考研英語時事閱讀
