The failure of central banks to target nominal GDP growth remains incomprehensible to me, and I will not write about it until I think that I have understood the reasons. As for wages, even with one-third of the US labor force changing jobs every year, sociological factors and human-network ties appear to exercise an even stronger influence on the level and rate of change – at the expense of balancing supply and demand – than I would have expected.
我至今仍无法理解为何央行没能以名义GDP增长为目标，在我理解个中原因之前也无意撰文探讨此事。置于工资问题，尽管三分之一的美国劳动力每年都要换工作，但社会因素和人脉网络联系在工资变化率方面的影响力比以前更大了，超出了我的预料，而这是以牺牲供求平衡为代价的。