AFTER the worst slump in modern memory, American factories are showing signs of life.

经历过现代社会最严重的衰退之后，美国的工厂正逐渐复苏。

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“Historians will look back on 2008 as the first time in modern memory that spare capacity ran out without a war in the Persian Gulf, and OPEC failed to cap prices,” says Mr McNally.

“历史学家一回顾起2008年便记得这是现代历史上首次在不发生波斯湾战争的情况下闲置产能被消耗殆尽，OPEC未能遏制价格上涨，”麦克纳利如是说。

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"Historians will look back on 2008 as the first time in modern memory that spare capacity ran out without a war in the Persian Gulf, and OPEC failed to cap prices," says Mr McNally.

“历史学家一回顾起2008年便记得这是现代历史上首次在不发生波斯湾战争的情况下闲置产能被消耗殆尽，OPEC未能遏制价格上涨，”麦克纳利如是说。

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For the first time in modern memory, a whole generation might not prove wealthier than the one that preceded it.

FORBES: Millennials, Hipsters, And Life After Financial Melancholy

"It reversed the Idea of Progress, " writes the literary historian Paul Fussell in "The Great War and Modern Memory, " the single best account of the war's cultural impact.

WSJ: Goodbye to All That

But if you're stuck, as we have been, with the slowest economic recovery in modern memory, most people would probably say it was better for the long-term health of the country to have more people working, less productively, than to have rising productivity but also higher unemployment.

BBC: The UK productivity puzzle (cont'd)