Now that the "artificial-wealth bubble" of the past two decades is finally collapsing, one of two scenarios can occur: capital destruction or purchasing-power destruction.

由于在过去20年造成的“人工财富泡沫”终于崩溃了，那么有两种情况就可能发生：资本损毁或购买力损毁。

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Only by allowing the "winds of creative destruction" to blow freely could capital be released from dying firms to new industries.

只有允许“创造性毁灭之风”自由的吹动，资本才能从濒临破产的企业流向新兴企业。

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In conventional industries, the demise of companies leads to "creative destruction" with capital being reallocated to more productive areas.

在传统产业，公司的消亡导致“创造性破坏”，资金被重新分配给生产效率更高的领域。

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Other forms of capital destruction, such as lending for consumption, are best discouraged.

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Few would argue, however, with Mr Rough's analysis that the implosion heralded the "worst period of capital destruction in modern financial market history".

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For this alone we can expect some staggering investment errors lured into energy by the money illusion that will lead to substantial capital destruction over time.

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