1．Between 150 and 173, Britain's GDP grew at an average annual rate of 3%. Growth was hampered¹ by chronic² balance of payment deficits³. The term "Britain disease" is now used to characterize Britain's economic decline.

150年至173年兼，英国的国民生产总值平均年增长率为3％。经济发展受阻于长期收支平衡的赤字，现在常用“英国病”这个词来概括英国经济衰退的特征。

 

2．By the end of 147, the British economy had returned to its pre-war levels. The British economy in the 50s and 60s is characterized by show but steady growth, low unemployment and great material prosperity with rising standard of consumption.

到147年底，英国经济恢复到战前水平，50到60年代，英国经济的特点是发展缓慢而稳定，失业少，消费上升，物质极度繁荣。

 

3．John m Keynes suggested that the government should use fiscal⁴ and monetary⁵ policy to fine-tune aggregate⁶ demand to achieve full employment, while using prices and incomes policy to suppress inflation at source.

约翰，凯恩斯建议政府在利用物价和收入政策从根本上抑制通胀的同时，应该利用财政和货币政策来微调社会总需求，以达到充分就业的目的。

 

4．The end of 173 witnessed the first oil shock. As a result the rate of inflation rose to 16% in 174. In the 170s among the developed countries Britain maintained the lowest growth rate and the highest inflation rate.

173年爆发了第一次石油危机，结果通胀率在174年上升到了16％，70年代在发达国家中，英国增长率最低而通胀率最高。

 

5．The new economic programmed adopted by Mrs. Thatcher⁷ was based on the new classical school of thought. Privatization deregulation and market liberalization replaced prices and incomes control and state interventionism.

由撒切尔夫人提出的新经济计划以新的古典思想学派理论为基础，私有化、撤销价格管制和市场自由化取代了物价和收入控制及政府的干涉主义。

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