The thing that's really doing the heavy hitting on risk management is really the tax and welfare system.

而税收和福利制度能真正有效地,实现风险管理。

耶鲁公开课 - 金融市场课程节选

We have a good system in taxes, but it's imperfect because it hasn't been thought out thoroughly in terms of risk management.

我们有很好的税收制度，但它并不完善,因为它并非完全从风险管理的角度,经过考量而得出的。

耶鲁公开课 - 金融市场课程节选