The slumps that shaped modern finance
Finance is not merely prone to crises, it is shaped by them. Five historical crises show how aspects of today’s financial system originated—and offer lessons for today’s regulators
1. Widely disliked and often considered grubby, it has nonetheless played an indispensable role in human development for at least 7,000 years
body: XXX and XXX (to describe the state), they have nonetheless played an indispensable role in deciding XXX
Ignored or considered unimportant, these three issues have nonetheless played an indispensable role in deciding whether to investigate or not.
2. By providing these two kinds of service, a well-tuned financial system smooths away life’s sharpest ups and downs, making an uncertain world more predictable.
body: By doing XXX, X smooths away life’s sharpest ups and downs, making XXX
3. leaving its legacy of unemployment and debt, it is worth asking if the right things are being done to support what is good about finance and to remove what is poisonous.
Leaving alone XXX, it is worth asking if XXX
4. other parts of finance deemed essential are given more state support
Some students deemed excellent are selected to take part in the competition.
5. Yet well-intentioned reforms have made this problem worse
Yet XXX has made XXX
Yet 做起承转合，增强语气，是很地道的表达
6. The fact that professional investors can lean on the state would have made him angry.
The fact that XXX would have made XX
7. But they also highlight how successive reforms have tended to insulate investors from risk, and thus offer lessons to regulators in the current post-crisis era.
XXX highlights how XXX has tended to XXX.
sth. offers lessons to sb.
8. If one man deserves credit for both the brilliance and the horrors of modern finance it is Alexander Hamilton.
If one problem needs review it is XXX.
9. Already massive, it then ballooned.
Already XXX, it then XXX.
10. As many as 20 carriages a week raced between the two cities to exploit opportunities for arbitrage.
Working nine to five
1. Surprising though it may be to employees who expect firms to indulge their odd working hours, their tastes in coffee and their pets, the answer is often yes.
通过自问自答的方式来表达，对于一部分人可能不可思议，但是这种情况确实广泛存在。
2. Today Twitter and other social media broadcast employees’ thoughts
用broadcast 刻画大家都可以看得见你的post。
Youth always broadcast their lives on Twitter or Facebook about what they do and how they feel. But will these
posts lead to personal information leaks? Surprisingly it may be for those who expect
their friends to keep tracking their state, but the answer is yes.
3. they also make it easy for anyone who is offended to put together a mob and retaliate against the poster and their employer.
put together a mob 本意是聚众闹事，但是这里的意思应该是说，将所有的不满堆积在一起发泄出来，有点像吵架时候细数对方不是的感觉。
4. conduct codes which
police workers’ speech
police 这里很灵性，在后面也有用govern 表达类似意思的。
5. Sacking him would have been costly, too—but not that costly.
Social distancing would have been costly, too —but not that costly as completely shut down.
6. it is clearly in society’s interest.
in在这里表达的是关于的意思。
7．In laying down clearer rules
立下规矩
8. even after being told to stop, has crossed the line into harassment. That should be grounds for dismissal.
Your behavior has crossed the line, which is the ground for the punishment.
9. they should be able to restrict what they say there, provided they are clear and fair about it.
provided 的后面作为一个补充的成分，表示对前面内容的补充。
10. The situation is more complicated when it comes to public figures such as sports stars.
when it comes to 可以作为一个转折，呈上启下。前文中的After people go home, though, they should be able to express their
opinions freely 中的though 也是句中转折，写作时候可以多点转折形式，不要局限于 However, but 之类。
11. Politicians should hold their nerve
hold one’s nerve 控制情绪。
You have to learn to hold your nerve when you are punished by the teacher for you had crossed the line in class.
Don’t waste a good crisis
1 reset their sometimes testy relations with their users
testy relations 紧张的关系
2 Otherwise big government, the other beneficiary of the COVID calamity, is likely to do it for them.
Otherwise 表示转折，否则的话，会咋样。。。
3 although some tech supply chains are creaking and online advertising spending has dipped, overall the big five firms are seeing surging demand.
although 在强调局部问题，overrall是在综述整体。起到了起承转合的作用。
4 these firms have outperformed the market
performs better than!
5 trouble was brewing in the land of unicorns
brew 是酿造的意思，麻烦在酝酿。
6. Among many firms catering to consumers, the strategy of growing at all costs, known as “blitzscaling”, had turned out to be flawed.
catering to 迎合某人。at all cost 不计一切代价。
turn out to be flawed =
is shown to be wrong. 逼格就很不一样。
Although catering to your girlfriend can relieve your testy relation, the trouble is still brewing for your distinct thinking modes.
This strategy turns out to be outperformed the former one, provided the sale of the company thrives for 30% after changing into the new strategy.
