全球经济摘要.doc

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1、【精品文档】如有侵权，请联系网站删除，仅供学习与交流全球经济摘要.精品文档.abstractacceptaccountaccuseachievementactivityadultanalogousanalysisanalyzeanthropologyapplianceapproachassimilateassociationattentionavailablebasicbehaviorbehavioralbranch breakthroughbusinesscharacterchargechipcodecommentcommoncompensatecompetentconceptconduct

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5、dergraduateunderlineunderstandinguniqueuniversityvaluevanishvirtualRegulating executive pay in America美国规范高管薪酬Knotting the purse-strings捂紧钱袋子Aug 6th 2009 | NEW YORKFrom The Economist print editionCongress embarks on its latest attempt to rein in corporate excess国会近来竭力遏制企业薪酬泛滥WASHINGTONS politicians

6、have relished the many chances to fulminate against reckless executives presented by the economic crisis, and to restrain them with regulation. Congress took advantage of the bail-out to impose caps on bonuses paid by banks taking money from the state. The uproar over bonuses paid to executives at A

7、merican International Group, a rescued insurer, prompted further legislation. And on July 31st the House of Representatives took up the subject again, passing a bill that would regulate pay at all listed firmsespecially big financial ones.华盛顿的政客们在享受着经济危机带给他们的诸多机会，他们一边怒斥企业高管无法无天，一边制定立法对其严加管束。国会利用救援方案

8、强制实行奖金封顶，以限制银行拿国家的钱滥发奖金。靠国家救援方案获救的保险公司美国国际集团（American International Group）高管奖金案激起民愤，促使议会加强立法约束。7月31日，众议院旧事重提，通过一项规范所有上市公司尤其是大型金融公司薪酬的议案。The bill, which has yet to be approved by the Senate, would introduce two big changes. First, it gives shareholders the right to vote each year on pay packages for

9、executives, including “golden parachutes” for those who leave. Second, it allows regulators to assess whether pay practices at financial institutions with assets of $1 billion or more are likely to encourage risk-taking so excessive that it threatens the stability of the financial system. If so, the

10、 regulators can demand changes.尚待参议院批准的议案，将引入两项重大变革。第一，议案赋予公司股东投票权，股东每年可以投票表决高管薪资是否合理，包括离职者的“金降落伞（高额离职补贴）”。第二，议案赋予监管者评估权，监管者可以评估10亿美元资产及10亿美元以上金融机构的薪资方案，评估其方案是否会鼓励过度冒险而危及金融系统稳定性。如果是，监管者可责令修改方案。The bill also requires members of compensation committees of boards of directors to be independent, formali

11、sing what is now standard practice. Consultants hired by boards to advise on executive pay must also be independent. Rather belatedly, the bill orders Americas comptroller-general to study whether there is a connection between compensation structures and excessive risk-taking.议案还要求，董事会的薪酬委员会必须由独立成员构

12、成，借以将现在的标准做法正规化。此外，由董事会所雇的高管薪酬顾问也必须独立。另有条马后炮的规定是，议案指令美国总审计长研究薪酬计划与过度冒险之间是否有必然联系。Barack Obama championed a “say on pay” for shareholders long before he became president. It would bring America into line with Britain, which made it a legal requirement in 2002. Yet unless institutional shareholders mak

13、e the most of their rights, getting a vote may not make much difference. There is a danger that they will simply outsource the hard thinking about pay to advisory firms such as RiskMetrics, says Jeffrey Gordon of Columbia Law School. This may encourage the sort of herd mentality that produced the wi

14、despread and disastrous enthusiasm for paying bosses with share options, he says. Worse, some advisory firms work as consultants for boards as well as coaches for shareholders, so may have conflicts of interest similar to those that have undermined the effectiveness of auditors and credit-rating age

15、ncies.奥巴马在未当选总统很久之前就力挺股东的“薪酬话语权”。这将使美国在此立法上同英国一致，而在英国，股东“薪酬话语权”早在2002年就成为了法律条文。然而，除非公司股东充分利用手中的权利，否则即便投票可能也无法扭转大局。哥伦比亚大学法学院Jeffrey Gordon指出，这样做的危险是，股东完全可能把薪酬难题外包给例如RiskMetrics之类的咨询公司。他说，股东中可能引发产生从众心理，大量地把期权当做薪酬支付给公司老板，由此引发灾难性的后果。更糟的是，有些咨询公司同时兼做董事会和股东顾问，于是就会产生利益冲突，而利益冲突曾经削弱了审计师、资信评估机构的工作效率。The Britis

16、h experience is telling, argues Mr Gordon in a recent article. There are hardly any votes against compensation packages at British companies. (The same has also been true at the handful of American firms that have introduced a vote on pay in recent years.) That may be because shareholders and manage

17、rs reach agreement before votes are held. But Americas more diffuse shareholding structure makes such understandings harder to achieve, he says. Moreover, as in Britain, the shareholder vote will only be advisory, and can be ignored by management. In May 59% of voting shareholders of Royal Dutch She

18、ll, an oil giant, rejected the executive pay package for 2008, but the company intends to pay it anywaythough it lamely promised to consult shareholders more closely in future.Gordon的最近一篇文章力陈，英国经验颇具说服力。英国公司中几乎没有多少反对薪酬方案的投票。（近些年一些引入薪资投票表决的几家美国公司也是同样情况。）这也可能因为股东与管理者在投票前便已达成一致意见。但是他说，更为松散的控股结构决定了美国公司很难

19、就此达成共识。而且，像英国一样，股东投票结果仅供参考，管理层完全可以置之不理。今年5月，荷兰皇家壳牌石油公司（Royal Dutch Shell）59%股东投票驳回了2008年高管薪酬方案，但是公司却执意按方案支付薪酬尽管公司言不由衷地许诺，以后有此问题将与股东进行更密切磋商。As for big financial firms, the bill would allow regulators to review how incentives are structured under their pay practices. But they would not be privy to the

20、 amounts paid or the identities of the recipients. That might insulate them from the political pressures heaped on Kenneth Feinberg, the “special master” appointed by Mr Obama to prevent inappropriate pay at firms that have received help from the taxpayer. Angry citizens want Mr Feinberg, who is exp

21、ected to rule soon on bonuses at various financial firms, to veto pay-outs such as the $100m bonus for Andrew Hall, an oil trader at Citigroup, even though he seems to have earned it the old-fashioned way, by doing his job very well.至于大型金融公司，议案允许监管者审查薪酬制度中奖励方案如何构成。但是不可能私密到审查支付额度及获奖者身份的程度。于是监管者也就不必承受

22、堆积在“特别管理员”Kenneth Feinberg身上的政治压力，总统委任此职，是为了避免接受纳税人援助的公司出现薪酬不合理的做法。Feinberg先生不久将就多家金融公司的奖励方案进行裁决，愤怒的公民期望他否决诸如花旗集团（Citigroup）为石油贸易商Andrew Hall开出高达1亿美元奖金的高额支出政策，即使其奖金真的是靠老式的卖命工作赚到的。The bill faces an uncertain future in the Senate, where it may get lost amid more sweeping financial reforms. Then again,

23、 senators enjoy railing against corporate fat cats as much as the next politician. 参议院里，议案前途未卜，也可能会淹没在更为彻底的金融改革提案中。于是，参议员们就可以像其他政客一样，享受怒骂公司阔佬的机会了。2Feb 16th 2006 | CORK AND LONDONFrom The Economist print editionStuff of dreams梦想的精粹（译者注：本文是关于画展的评论。）Two exhibitions show how a pair of 18th-century paint

24、ers, James Barry and Henry Fuseli, inspired the modern visual romance with1 the gothic 两个画展展示的是，两位18世纪画家詹姆斯巴里和亨利富塞利如何唤起了现代人从视觉上对哥特式艺术的憧憬。THIS spring the bad boys of British art are making a comeback2. Not Damien Hirst and his friends, but the original enfants terribles3Henry Fuseli4 (1741-1825) and

25、James Barry (1741-1806)who aimed, above all, to depict extremes of passion and terror in what they called the new art of the Sublime. 今春，英国艺术界的坏孩子再次粉墨登场了。我们说的不是达米恩赫斯特和他的朋友们，而是亨利富塞利（1741-1825）和詹姆斯巴里（1741-1806），这两位“莽撞少年”的始作俑者，他们的首要目标就是要用所谓的“新派高尚艺术”去描绘极度激情与恐怖。Barry and Fuseli are hardly household names

26、; indeed since Victorian times they have been virtually ignored. But in the late 18th century, Fuseli, and for a short time Barry also, were prominent members of the young Royal Academy of Arts (RA) and influential professors of painting there. Barrys fall from grace5 was the most dramatic, but ther

27、e is much to admire in this irascible Irish artist who, like Fuseli, once taught William Blake. Barrys prolific historical paintings demonstrate his ambition to rival the painters of antiquity and the Renaissance and to practise what the then president of the RA, Sir Joshua Reynolds, always preached

28、that history painting was the noblest form of art. But Barry found it hard to be bound by rules, and he turned history and myth into a series of tableaux6 that were at once oddly expressionistic and deeply personal.巴里和富塞利这两个名字算不上家喻户晓，实际上自维多利亚时代以来，世人对他们已经不闻不问。不过，在18世纪晚期，富塞利曾经是早期皇家美术学院（RA）的杰出会员和颇具影响力的

29、画师，巴里曾一度也是如此。巴里的失宠于众最富于戏剧性，但跟富塞利一样曾给威廉布莱克传授过技艺的这位性情暴躁的爱尔兰艺术家，还是拥有许多让人敬佩的地方。他的众多历史性画作都表明，他热望与古代以及文艺复兴时期的画家相抗衡，始终信奉历史画乃是最为尊贵的艺术形式，而这恰恰也是皇家美术学院当时的院长约书亚雷诺兹爵士所一直倡导的。但是历史画受制于过多约束让巴里感到难以接受，遂将史实与神话融为一体，并用一系列舞台造型加以表现，随即成为与主流格格不入的表现派，并打上了深深的个人主义烙印。His melodramatic “King Lear Weeping over the Body of Cordelia”

30、 and his sexually charged “Jupiter and Juno on Mount Ida7”, now both part of a retrospective of the artists work in Cork, proved too full of feeling for a British audience raised on portraits and landscape paintings. His only loyal patron was Edmund Burke, who had coined8 a theory of the Sublime. 巴里

31、的情景画泪洒科蒂利亚亡体的李尔王以及他那幅洋溢着性爱的艾达峰上的朱庇特和朱诺，现已成为科克城（爱尔兰南部港口城市）艺术家作品回顾展的一部分。这两幅画作表明英国观众对肖像画和风景画投注了极大的热情。埃德蒙伯克是唯一自始至终资助巴里的人，正是他创立了“高尚艺术”理论。Barry felt he was a persecuted soul, and he painted himself as various ill-fated characters, most bizarrely Philoctetes9, the sailor whom Odysseus abandoned on the isla

32、nd of Lemnos because he smelled so bad. As if that werent enough, Barry also incited his RA students to revolt and then allegedly accused Reynolds of financial impropriety. When he became too unbearable, Barry became the first artist to be expelled by the academy. 巴里认为自己的灵魂受到了戕害，便将自己画成形形色色充满晦气的人物，其中

33、最为怪异的是菲罗克忒忒斯，那位由于臭气熏天而被奥德修斯抛弃在利姆诺斯岛上的水手。似乎这还不够，巴里还鼓动他在皇家美术学院的学生造反，而且据说后来甚至指控雷诺兹在财政上存在违法问题。巴里变得越来越让人忍无可忍，于是成了第一个被学院开除的艺术家。Barry knew Fuseli, and he makes a minor appearance in “Gothic Nightmares: Fuseli, Blake and the Romantic Imagination”, the brainchild10 of an engaging British polymath11, Sir Chri

34、stopher Frayling, who heads the Arts Council of England and the Royal College of Art. Sir Christopher has long been fascinated by the horror genre12he once presented a popular television programme on the topicand his favourite painting is Fuselis “The Nightmare” (pictured above), an unsettling image

35、 of a sleeping maiden, with an incubus13 perched14 on her stomach and a ghoulish15 horse peering through a curtain.巴里认识富塞利，作为特邀嘉宾参加了哥特式梦魇富塞利、布莱克和浪漫主义幻想画展。那次画展是由英格兰艺术理事会和皇家艺术学院主席、富于号召力的英国人克里斯托弗弗雷林爵士策划的。克里斯托弗爵士长期以来痴迷恐怖艺术曾以此为主题推出一档颇受欢迎的电视节目他最钟爱的画作是富塞利的梦魇（上图），画中描绘的是一位熟睡的女人，腹部上栖息着一个梦淫恶鬼，而布帘后面一匹长得像食尸鬼一般的马

36、正探头窥视，整幅画看了让人感到心神不宁。Sir Christopher sees this painting, together with Fuselis scenes from Milton and Shakespeare, as part of a search for national myths in the late 18th century. Indeed, his interpretation illuminates an Enlightenment world that hovered between reason and bigotry16, and where a quas

37、i-scientific interest in the occult17 and the emerging genre of the novel fed a public that was hungry for “tales of wonder”. 克里斯托弗爵士认为，富塞利的这幅画以及取材于密尔顿和莎士比亚作品的那些画作，乃是探寻18世纪民族神话的一部分。事实上，他的这一评注为纠缠在理智与偏见之间的“教化世界”带来了曙光。在这样一个“教化世界”中，对玄妙之事的半带科学性的热诚和涌现出的相关小说流派，让大众对“惊愕故事”的渴求得到了极大满足。Unlike Barry, Fuselia for

38、mer preacher who was forced to leave his native Zurichlooked rationally at the London art scene. He saw that the only way to compete for “wall power” at the all-important annual exhibition of the RA was to carve out his own niche, the more eye-catching and esoteric18 the better. In 1782 Fuseli exhib

39、ited “The Nightmare” for the first time, drawing record crowds of up to 3,000 people a day. Perplexed critics asked what the painting was about. In an age when art was supposed to depict an actual person or event, it came as a shock that this was a painting not of a nightmare, but of the nightmare a

40、s a generalized experience. 当过传教士后来被迫离开祖国瑞士的富塞利跟巴里不一样，他较为理智地看待伦敦艺术境况。他发现，要想在至关重要的皇家美术学院年度画展上争取到“支持力量”，只有标新立异，越引人注目、越生涩越好。1782年，富塞利首次展出梦魇一作，每天观摩者创纪录地达到3000人。批评家们对画中所要表现的主题感到百思不得其解。在一个艺术被认为应该是描写真人真事的年代，这幅画的诞生让世人感到震惊：它并不单单是对一般恶梦的简单描绘，而是对恶梦体验的一次真实再现。Interestingly, it was not until 1793 that anyone sugge

41、sted publicly that the painting of a scantily clad19 woman stretched out on a bed might be about sex. In a post-Freud world, it is impossible to look at “The Nightmare” and see anything else.There is a soft-porn perversity20 about many of Fuselis muscular super-heroes and nubile21 nymphs22, particul

42、arly his Titania from “A Midsummer Nights Dream”. The erotic23 drawings and prints by him and his pupil Theodor von Holst are so explicit that the Tate has hung a veil between them and Fuselis popular fairy paintings nearby, which are a favourite with children. 有意思的是，直到1793年才有人公开指出，这幅画上的女人几乎一丝不挂地躺在床

43、上，因此可能与性有关。在后弗洛伊德时代，盯着梦魇而又不想入非非是不可能的。富塞利画中肌肉结实的超级英雄和含苞欲放的美丽少女，尤其是取材于仲夏夜之梦的泰坦尼亚，模糊的色情描绘让人多少有些心慌意乱。由于富塞利及其学生霍尔斯特的素描和版画色情描绘过于直接，泰特美术馆就悬挂起一块幕布，将在这些画与近旁富塞利那些迎合大众的、尤其是孩子们最爱看的仙女画隔开。Unsurprisingly, Fuselis work was vilified24 by the Victorians, and he came back into favour only when the Surrealistsenthralle

44、d25 by his weird mix of deviance, death and dreamsclaimed him as a hero. Today, the artist who bred his own moths in order to depict them accurately in his fairy paintings hangs in the same gallery as those other attention-seekers, Mr Hirst and Tracey Emin; it is almost as if he were their long-lost

45、 ancestor.富塞利的作品遭到了维多利亚女王时代艺术家们的非难，这是意料之中的事。直到超现实主义者集反社会、死亡、幻想等诡异元素于一身的富塞利令他们着迷称之为英雄的时候，他这才重新受宠。如今，这位为了准确描绘仙女画中的飞蛾而亲自养殖的艺术家，同其他那些万众瞩目的人如赫斯特、特雷西艾明一样，也进入了美术陈列室，看上去就像是这些人的鼻祖。While Fuselis rehabilitation is admirable, the Tates obsession with inclusiveness dilutes Sir Christophers ideas. Viewers are ove

46、rloaded with mawkish26 pictures that the curators call “Gothic gloomth”, borrowing a phrase from Horace Walpole. Instead of rising to Sir Christophers wide-ranging themes, which link Fuseli and Blake with other great European painters, including Goya and Caspar David Friedrich, the Tate has taken a

47、parochial27 view, showing virtually every mediocre British artist who ever dabbled28 in gothic fantasy. Thankfully James Gillray is also there, and his biting29 caricatures lift the spirits. 虽然富塞利的重振旗鼓令人肃然起敬，但坚持包罗万象的泰特美术馆还是弱化了克里斯托弗的观念。众多索然无味的绘画充斥着观众的视野，美术馆长们引用贺瑞斯沃波尔的一条成语，把这些画称作“哥特式晦暗”。克里斯托弗爵士崇尚的主题广泛，将富塞利、布莱克同包括戈亚、卡斯帕戴维弗雷德里希在内的欧洲其他杰出画家有机结合在一起，但泰特美术馆却反其道而行之，几乎展出了所有和哥特式幻想沾点边、不入流的英国艺术家的作品，其眼界之狭窄可见一斑。令人欣慰的是，这里面也包括了詹姆斯基尔雷，他的讽刺画发人深省，令人精神振奋。The last room is one of the best. Here Sir Christopher has added his cross-cultural hallmark30: a series of horror film clips that invoke Fuselis “The Nightmare”