Yet there are reasons to fear that there will be such a decline: slower growth means fewer competitive pressures for heightened efficiency; diminished risk tolerance means a lower appetite for innovation and experimentation; and nominal interest rates pinned at the zero lower bound means that society’s savings cannot be used effectively.
但是，有理由担心会发生这样的下降：放缓的增长意味着提高效率的竞争压力不再紧迫；风险容忍度的下降意味着创新和实验倾向的减弱；名义利率趋向于零意味着社会储蓄无法得到有效利用。