The second thing I want to do is introduce my co-author

首先，我想要感謝你們所有的人。

and dear friend and co-teacher.

第二，我要介紹我的合著者，

Ken and I have been working together

我親愛的朋友和合作老師，

for almost 40 years.

--Ken 他和我在一起工作

That's Ken Sharpe over there.

已經有將近40年了。

(Applause)

Ken Sharpe 就在那裡。

So there is among many people --

（掌聲）

certainly me and most of the people I talk to --

所以，在許多人中-

a kind of collective dissatisfaction

包括我，和我接觸的大部份人中-

with the way things are working,

有一種集體的不滿--

with the way our institutions run.

對於事情運作的方式不滿，

Our kids' teachers seem to be failing them.

對於機構周轉的方式不滿。

Our doctors don't know who the hell we are,

我們孩子的老師似乎在辜負他們；

and they don't have enough time for us.

我們的醫生不知道我們究竟如何，

We certainly can't trust the bankers,

也沒有足夠的時間給我們。

and we certainly can't trust the brokers.

我們當然也不能信任銀行家，

They almost brought the entire financial system down.

更不能相信股票經紀人，

And even as we do our own work,

是他們幾乎弄垮了整個財務系統。

all too often,

甚至當我們只是做自己的工作，

we find ourselves having to choose

經常會

between doing what we think is the right thing

會發現自己不得不選擇

and doing the expected thing,

要做我們認為是對的事，

or the required thing,

還是做被期待的事，

or the profitable thing.

或是做被要求的事，

So everywhere we look,

還是做有利益的事。

pretty much across the board,

所以環顧周圍，

we worry that the people we depend on

基本上的情況都是，

don't really have our interests at heart.

我們擔心我們所依靠的人

Or if they do have our interests at heart,

並不真的在乎我們的權益；

we worry that they don't know us well enough

或即使他們在乎，

to figure out what they need to do

我們擔心他們不足夠瞭解我們

in order to allow us

來弄清他們該做什麽

to secure those interests.

才能讓我們

They don't understand us.

獲取我們的權益。

They don't have the time to get to know us.

他們不理解我們。

There are two kinds of responses

他們也沒有時間來認識我們。

that we make

對這種普遍的不滿足感，

to this sort of general dissatisfaction.

我們做出

If things aren't going right,

兩種不同的回應。

the first response is:

如果事情不順，

let's make more rules,

第一種回應是：

let's set up a set

讓我們制定更多的規則，

of detailed procedures

讓我們設定一系列

to make sure that people will do the right thing.

更細的程序

Give teachers scripts

來確保人們做對的事。

to follow in the classroom,

給老師在教室裡

so even if they don't know what they're doing

要遵守的教學守則，

and don't care about the welfare of our kids,

那麼即使他們不知道他們在做什麽，

as long as they follow the scripts,

也不在乎我們孩子的福利，

our kids will get educated.

只要他們遵守這些守則，

Give judges a list of mandatory sentences

孩子們就能得到教育。

to impose for crimes,

給法官一列對罪行實施的

so that you don't need to rely

強制判決令清單，

on judges using their judgment.

所以你不再需要依賴

Instead, all they have to do

法官們自己的判斷。

is look up on the list

相反，他們所需做的一切

what kind of sentence goes with what kind of crime.

只是查考清單-

Impose limits

什麽判決對應什麽罪行。

on what credit card companies can charge in interest

對信用卡公司，

and on what they can charge in fees.

在他們能收取什麽為利息。

More and more rules

能收取什麽費用上-施加限制。

to protect us

有越來越多的條例

against an indifferent, uncaring

來保護我們

set of institutions we have to deal with.

對付那些我們得應對的

Or -- or maybe and --

漠不關心的機構。

in addition to rules,

或者，或許-

let's see if we can come up

除了規章條例

with some really clever incentives

看看我們還能不能想出

so that, even if the people we deal with

一些聰明的激勵機制。

don't particularly want to serve our interests,

那樣即使如果我們接觸的人

it is in their interest

并不特別想滿足我們的利益，

to serve our interest --

爲了他們自己的利益

the magic incentives

他們也會來滿足我們需要--

that will get people to do the right thing

奇妙的激勵措施

even out of pure selfishness.

竟能讓人們即使出於單單私心

So we offer teachers bonuses

也會做對的事。

if the kids they teach

所以我們給老師提供獎金

score passing grades on these big test scores

一旦他們所教的學生

that are used to evaluate

能通過那些重要考試

the quality of school systems.

用來衡量學校系統質量的

Rules and incentives --

標準考試。

"sticks" and "carrots."

規矩和獎勵 --

We passed a bunch of rules

軟硬兼施

to regulate the financial industry

我們通過了一串規條

in response to the recent collapse.

針對最近的崩盤和蕭條

There's the Dodd-Frank Act,

來規範金融業。

there's the new Consumer Financial Protection Agency

有 Dodd-Frank 法案 （美國華爾街改革和個人消費者保護法案）

that is temporarily being headed through the backdoor

有新的暫時由Elizabeth Warren 為首

by Elizabeth Warren.

通過後門的

Maybe these rules

消費者金融保護局。

will actually improve

也許這些條例

the way these financial services companies behave.

真能改善

We'll see.

金融服務公司表現的方式

In addition, we are struggling

我們還需拭目以待。

to find some way to create incentives

另一方面， 我們努力

for people in the financial services industry

尋找創建激勵機制的方法

that will have them more interested

給金融服務業界的人

in serving the long-term interests

能讓他們甚至只是出於所在的公司

even of their own companies,

能對實現長遠的利益

rather than securing short-term profits.

更感興趣，

So if we find just the right incentives,

而不只是爲了取得一時的利益

they'll do the right thing -- as I said -- selfishly,

那樣如果我們能找到那個對的激勵，

and if we come up with the right rules and regulations,

他們也會“自私地”，如我所講，做對的事。

they won't drive us all over a cliff.

所以如果我們能制定對的規章條例，

And Ken [Sharpe] and I certainly know

他們就不會置我們與莫大的風險。

that you need to reign in the bankers.

然而Ken [Sharpe]和我知道

If there is a lesson to be learned from the financial collapse

你們需要支配掌握銀行家！

it is that.

如果從這次金融大衰退中我們能學的什麽

But what we believe,

就是這個。

and what we argue in the book,

但是我們相信

is that there is no set of rules,

我們在書中也爭辯，

no matter how detailed,

沒有那麼一系列條例，

no matter how specific,

無論多細節，

no matter how carefully monitored

無論多具體，

and enforced,

無論監管、

there is no set of rules

實施多有力，

that will get us what we need.

沒有哪一列條例

Why? Because bankers are smart people.

能讓我們得到我們真正所需的。

And, like water,

爲什麽？因為銀行家很聰明

they will find cracks

像水一樣，

in any set of rules.

他們任何條例中

You design a set of rules that will make sure

都會找到漏洞鑽。

that the particular reason

你設訂一系列法案來確保

why the financial system "almost-collapse"

那個使整個金融系統

can't happen again.

幾乎崩潰的特定原因

It is naive beyond description

不再發生；

to think that having blocked

但若認為你阻擋了

this source of financial collapse,

這個使經濟蕭條的源頭

you have blocked all possible sources of financial collapse.

就阻擋了所有崩毀金融的源頭，

So it's just a question of waiting for the next one

那未免太天真了。

and then marveling at how we could have been so stupid

所以這只是等待下一次危機

as not to protect ourselves against that.

然後驚異與我們爲什麽這麼愚蠢

What we desperately need,

竟然沒有針對其保護好自己。

beyond, or along with, better rules

我們真正急需想要的，

and reasonably smart incentives,

超過、或伴隨，更好的條例

is we need virtue.

和有效的激勵

We need character.

是我們需要-品德

We need people who want to do the right thing.

我們需要人格

And in particular,

我們需要想要做對的事的人

the virtue that we need most of all

特別地，

is the virtue that Aristotle called

我們最需要的品德

"practical wisdom."

是亞里斯多德所稱的

Practical wisdom

實用智慧。

is the moral will

實用智慧-

to do the right thing

是做正確的事

and the moral skill

的道德意志；

to figure out what the right thing is.

是知道什麽是正確的

So Aristotle was very interested in watching

道德技巧。

how the craftsmen around him worked.

所以亞里斯多德對於觀察

And he was impressed

他周圍的工匠如何工作很感興趣。

at how they would improvise

他對於他們

novel solutions to novel problems --

如何即興針對

problems that they hadn't anticipated.

他們也沒意料的新問題想出

So one example is he sees these stonemasons

新奇的解決法案印象深刻。

working on the Isle of Lesbos,

一個例子是他看到一些石匠

and they need to measure out

在萊斯博斯島做工

round columns.

他們需要測量

Well if you think about it,

那裡的圓柱

it's really hard to measure out round columns using a ruler.

如果你想想的話

So what do they do?

用直尺量圓柱真的很難

They fashion a novel solution to the problem.

所以他們怎麼辦呢？

They created a ruler that bends,

他們發明了一種新奇的手段

what we would call these days a tape measure --

他們製作了一種可以彎曲的尺

a flexible rule,

今日被叫做-捲尺

a rule that bends.

一把靈活的尺

And Aristotle said,

可彎曲的尺。

"Hah, they appreciated that sometimes

亞里斯多德就說

to design rounded columns,

哈，他們領會到有時

you need to bend the rule."

要造園的柱子

And Aristotle said

你需要通融（放鬆規定）。

often in dealing with other people,

亞里斯多德又說