But the fluctuations will be less, as I have said above, than with a flexible wage policy.

但正如我上面所说， 波动会比灵活的工资政策要小。

The ILO says minimum wage policies -- rules for the lowest permitted wages, can play a strong part in dealing with poverty and inequality.

国际劳工组织称最低工资政策——政府制定的关于被允许的最低薪资水平的规定——能够在处理贫困和不平等方面发挥强有力的作用。

This policy will result in a fair degree of stability in the price-level;— greater stability, at least, than with a flexible wage policy.

该政策将导致价格水平相当程度的稳定；——至少比灵活的工资政策更稳定。

It is only in a highly authoritarian society, where sudden, substantial, all-round changes could be decreed that a flexible wage policy could function with success.

只有在高度专制的社会中， 突然的、实质性的、全面的变革才能下达， 灵活的工资政策才能成功发挥作用。

Thus with a rigid wage policy the stability of prices will be bound up in the short period with the avoidance of fluctuations in employment.

因此，通过刚性工资政策，价格的稳定性将在短期内得到约束，同时避免就业波动。

To suppose that a flexible wage policy is a right and proper adjunct of a system which on the whole is one of laissez-faire, is the opposite of the truth.

假设灵活的工资政策是一个整体上自由放任的制度的正确和适当的附属物，是与事实相反的。

He concludes (op. cit. p. 253) that unemployment is primarily due to a wage policy which fails to adjust itself sufficiently to changes in the real demand function for labour.

他得出结论（op. cit. p. 253），失业主要是由于工资政策未能充分调整自身以适应劳动力实际需求函数的变化。

There is, therefore, no ground for the belief that a flexible wage policy is capable of maintaining a state of continuous full employment;— any more than for the belief that an open-market monetary policy is capable, unaided, of achieving this result.

因此，没有理由相信灵活的工资政策能够维持持续充分就业的状态；——正如没有理由相信公开市场货币政策能够在没有帮助的情况下实现这一结果一样。