And the rate of investment is at a scale I've not seen in a decade, maybe 20 years.

投资速度达到了我十年未见的规模，也许是 20 年。

There are not two separate factors affecting the rate of investment, namely, the schedule of the marginal efficiency of capital and the state of confidence.

影响投资率的因素并不是两个独立的因素，即资本边际效率曲线和信心状态。

Furthermore, it seems unlikely that the influence of banking policy on the rate of interest will be sufficient by itself to determine an optimum rate of investment.

此外，银行政策对利率的影响本身似乎不太可能足以确定最佳投资率。

Let us assume that steps are taken to ensure that the rate of interest is consistent with the rate of investment which corresponds to full employment.

让我们假设已采取措施确保利率与对应于充分就业的投资率一致。

For, if it were, a given change in the rate of investment would involve a great change (limited only by full or zero employment) in the rate of consumption.

因为，如果是这样的话， 投资率的给定变化将引起消费率的巨大变化（仅受充分或零就业的限制）。

This further step is an integral part of our theory of employment, since it establishes a precise relationship, given the propensity to consume, between aggregate employment and income and the rate of investment.

这一进一步的步骤是我们就业理论的一个组成部分，因为它在给定消费倾向的情况下，在总就业和收入与投资率之间建立了精确的关系。

In other words, the rate of investment will be pushed to the point on the investment demand-schedule where the marginal efficiency of capital in general is equal to the market rate of interest.

换句话说，投资率将被推到投资需求表上的一点，即资本的边际效率一般等于市场利率。

In this event employment would be constant (at the level appropriate to the legal real wage) with money-wages and prices fluctuating rapidly in the degree just necessary to maintain this rate of investment at the appropriate figure.

在这种情况下，就业将保持不变（处于与法定实际工资相适应的水平），而货币工资和价格的波动幅度恰好足以将这种投资率维持在适当的水平。

This disturbing conclusion depends, of course, on the assumption that the propensity to consume and the rate of investment are not deliberately controlled in the social interest but are mainly left to the influences of laissez-faire.

当然，这个令人不安的结论是基于这样的假设，即消费倾向和投资率并未受到社会利益的刻意控制，而是主要受自由放任的影响。

Whilst aiming at a socially controlled rate of investment with a view to a progressive decline in the marginal efficiency of capital, I should support at the same time all sorts of policies for increasing the propensity to consume.

在以社会控制的投资率为目标，逐步降低资本的边际效率的同时，我应该同时支持各种提高消费倾向的政策。