Keynes did say – and it was a very important insight – that a capitalist economy resembles a beauty contest, with judges voting not for the most beautiful contestant, but for the contestant whom they believe their colleagues will find most beautiful. Shifts in expectations can thus alter the outcome.
凯恩斯的确说过资本主义经济就像一场选美比赛，评委们选出的不是最漂亮的选手，而是他们心目中同事认为最漂亮的。这一观点非常重要。预期的变化可以改变结果。