第八条原理：A COUNTRY'S STANDARD OF LIVING DEPENDS ON ITS ABILITY TO PRODUCE GOODS AND SERVICES
“The relationship between productivity and living standards also has profound implications for public policy.
Productivity 定义：the amount of goods and services produced from each hour of a worke's time
Because lower investment today means lower productivity in the future, government budget deficits are generally thought to depress growth in living standards.”
在亚洲，生产率最高的几个国家当数新加坡，韩国，日本。而韩国人跟日本人又被公认为世界上工作最为勤奋的国家。高生产率加高的工作小时数，这样的国家，如何能落后？相比之下，中国大城市的年轻人，工作也相当勤奋，就业压力和生活压力迫使他们拼命工作，北京上海深圳这些城市的发展速度也不可能不快。政策的倾斜使社会中的稀缺资源（人力是其中最为稀缺的）集中供应了这些城市，其发展速度焉能不快？使资源得到合理的分配，使收入得到合理的分配，这是政府现在迫切要做的事。
政府增加财政预算的赤字，就是政府要从市场中多拿走一部分钱，意味着市场失去了原本可用于生产的一部分钱，这就要威胁社会生活水准的提高。如果政府拿这些钱集中做了经济上的投资，比如在北京扶持了某些高新企业，投资了固定资产，那么北京的人均生活水平将被大大提高，而外地则相反。如果政府拿这些钱砸在了水里，比如修了国家大剧院，修了世纪坛，或者拿这些钱去填补亏空或支持腐败成本，那么整个社会的生活水平都要受到影响。这可以解释为什么看起来大家都在拼命工作，GDP 也在噌噌往上涨，而我们的生活水平却没有以与之相应的节奏上涨。
第九条原理：PRICES RISE WHEN THE GOVERNMENT PRINTS TOO MUCH MONEY（政府印制了过多的钞票时会造成价格上涨）
“inflation（通货膨胀）的定义：an increase in the overall level of prices in the economy
What causes inflation? In almost all cases of large or persistent inflation, the culprit turns out to be the same—growth in the quantity of money.”
通货膨胀是抵消人们努力工作的成果的罪魁祸首，而造成通货膨胀的原因则是政府印制了过多的钞票。我们可以比较容易解释的目前通货膨胀状况的一个原因是：政府在固定资产尤其房地产也投入过分，造成了银行资金的短缺，而解决的办法则是加大钞票的印刷量。可以理解最近的关于 ZF 加紧收紧银根的消息，正是要设法回收资金，减少钞票的过度印刷，从而控制通胀。这个过程不可能很快，至少要一年后，才能初步看到成效，而这还要取决于 ZF 的决心和力度。
第十条原理：SOCIETY FACES A SHORT-RUN TRADEOFF BETWEEN INFLATION AND UNEMPLOYMENT
“Because prices are sticky, various types of government policy have short-run effects that differ from their long-run effects. When the government reduces the quantity of money, for instance, it reduces the amount that people spend. Lower spending, together with prices that are stuck too high, reduces the quantity of goods and services that firms sell. Lower sales, in turn, cause firms to lay off workers. Thus, the reduction in the quantity of money raises unemployment temporarily until prices have fully adjusted to the change.
The tradeoff between inflation and unemployment is only temporary, but it can last for several years. The Phillips curve is, therefore, crucial for understanding many developments in the economy. In particular, policymakers can exploit this tradeoff using various policy instruments. By changing the amount that the government spends, the amount it taxes, and the amount of money it prints, policymakers can, in the short run, influence the combination of inflation and unemployment that the economy experiences.”
在 ZF 抑制通货膨胀的短期内会造成失业率的增加。当然，如果 ZF 声明说他们成功实现了所谓的软着陆，那意味着通货膨胀得到抑制的同时没有造成失业率大幅增加和其他负面影响。这谈何容易。以上第二段关于 ZF 抑制通胀的一些常见手段很值得玩味。