The welfare cost of business cycles is not the cycles themselves but the inability of individuals to smooth consumption over time.
经济周期的福利成本并非周期本身，而是个体无法随时间平滑消费的能力。
气候变化是我们行业面临的最大挑战，但也是最大机遇。
智者不会羞于求知，因为他知道，知识的海洋是无边无际的。
The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.
I don’t like to do easy things. I like to challenge myself.
真相还没穿上靴子，谎言已经跑遍全世界。