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stagnation in the economy; high level of unemployment。 You had inflation; with prices rising rapidly。

弗里德曼:滞胀是天真的凯恩斯主义的终结。两件事同时发生,而这在凯恩斯主义者看来是不能的。经济中出现滞胀-高失业率和通货膨胀同时存在。

NARRATOR: President Nixon looked like a Chicago economist's dream e true。 Milton Friedman was a special advisor; and George Shultz was in charge of the budget。

旁白:尼克松总统好像要使芝加哥学派经济学家的梦想成真。Milton Friedman是专门顾问,George Shultz则负责预算问题。

GEORGE SHULTZ: So I think going back to your ment about the wholesale price index a moment ago; one of the areas where prices were going up very rapidly was lumber and other materials associated with home…building。

GEORGE SHULTZ:因此我想要回到你稍早之前对 批发价格指数的评论上来。价格迅速上升的领域之一是木材和其他与家庭盖房有关的材料。

NARRATOR: But the president wasn't listening。 He tried to spend his way out of trouble。 To add insult to injury; he declared; "Now I am a Keynesian。"

旁白:但是总统没有听他们的意见。他设法用自己的方式来摆脱困境。更令他们觉得侮辱的是,总统宣称:“现在我是凯恩斯主义者。”

DANIEL YERGIN: This declaration by Nixon horrified his conservative supporters。 Indeed; one congressman wrote to him and said; "Mr。 President; I'm going to have to burn all of my old speeches。" Nixon wrote back and said; "I will; too。"

丹尼尔。尤金:尼克松如此宣称令他的保守派支持者觉得震惊。事实上,一位国会议员给他写信说:“总统先生,我将不得不收回我以前所有的讲话。”而尼克松回信到:“我也是。”

NARRATOR: Nixon decided he hadn't gone far enough; so he took his top economic advisors off to Camp David for a working weekend。 Ben Stein; the quiz…show host; was a junior speechwriter in the White House; and his father was at the meeting。

旁白:尼克松认为自己走得还不够远,于是他在一个周末带上自己的顶级经济顾问们到戴维营开会。Ben Stein是白宫的高级演讲稿撰写人,他的父亲也参加了会议。

BEN STEIN; Host; Win Ben Stein's Money: Here's my father; walking into the president's cabin to meet Mr。 Nixon; and there's George Shultz right behind him。

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