决策者可能隐蔽的选择更高的通货膨胀——这会增加名义上的收入，而不是采取削减支出和减少债务或是不履行职责这样痛苦的手段。

Policymakers might secretly prefer to do that through higher inflation, which lifts nominal incomes, than through the painful processes of cutting spending and retiring debt, or default.

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但是，债务的名义价值不会下降。

But, the notional value of debt can't decline.

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不像合伙制和独资经营的方式，股份公司是有限责任制的。 这意味着股东不必以个人的名义对公司的债务负责。

Unlike partnerships and soleproprietorships, corporations have limited liability, which means thatstockholders cannot be held personally responsible for the firm’s debts.

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