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But low rates of return also mean that government-debt burdens may prove easier to manage than thought—and perhaps that government borrowing could be used more aggressively in times of economic weakness to make up for central-bank impotence.
但是，低回報率也意味著政府債券負擔可能被證明比設想的還要容易管理——而且政府舉債可能在經濟疲軟時期被更積極地用來彌補央行的無能為力。
Nor do low rates of return on government debt imply that the world is entering a period of “secular stagnation”, or chronically weak growth.
政府債務的低回報率并不暗示著世界正在進入一個“長期停滯”，或者是習慣性的疲軟增長時代。
Low rates have in the past been as much a feature of rip-roaring economies—eg, in the 1950s and 1960s—as of the more stagnant ones experienced recently.
低利率在過去如其是更為停滯不前的經濟體近來所經歷的一個特點一樣也曾經是狂飆突進經濟體——即上世紀50年代和60年代的一些經濟體——的一個特點。
More still are the data's implications for debates on inequality.
然而，更令人振奮的是這些數據對于不平等討論的意義。
Karl Marx once reasoned that as capitalists piled up wealth, their investments would suffer diminishing returns and the pay-off from them would drop towards zero, eventually provoking destructive fights between industrial countries.
卡爾·馬克思曾經推斷道，隨著資本家積累起來了財富，他們的投資會遭受不斷縮水的回報之苦，而且他們的償付會跌向零，最終引發工業國家間的破壞性角逐。
That seems not to be true; returns on housing and equities remain high even though the stock of assets as a share of GDP has doubled since 1970.
這似乎不是正確的；房產和股票的回報縱然是資產存量占GDP的份額自上世紀70年代以來翻了一番的情況下仍是很高的。
Gravity-defying returns might reflect new and productive uses for capital: firms deploying machines instead of people, for instance, or well-capitalised companies with relatively small numbers of employees taking over growing swathes of the economy.
抵消地心引力的回報或許反映了對于資本來說是全新的和生產性的使用：例如，公司部署了機器，而不是人。或者是擁有相對小數量雇員的企業接管了日漸增大的經濟體量。
High returns on equity capital may therefore be linked to a more tenuous status for workers and to a drop in the share of GDP which is paid out as labour income.
因而，股本資本的高回報可能被鏈接到一種對工人而言是更加無足輕重的地位以及作為勞動力收入而被支出的GDP份額的一種下降。
譯文來源考研英語時事閱讀
