英语翻译

6(a)Theprocessofconstructioncanyieldlargebenefitstothegovernmentofficialsintheformofpaymentsfromthosewhoreceivetheconstructioncontracts,andthegrandeurofthecompletedprojectcanpayelectoraldividends.Butwillthepoliticalrewardsofmaintenancebeasgreatasthepoliticalcostsofmaintenance?(b)Theprivateownerofaroadknowsthatnorevenuecanbecollectedfromroadusersunlessitisadequatelymaintained.Aresidualclaimantwillcarefullyandcontinuallycomparethemarginalcostofspecificmaintenanceprocedureswiththeirmarginalbenefit,thelatterestimatedintermsofhowmuchmoreuserswillbewillingtopaybecauseoftheimprovement.InBookVofhisWealthofNations,AdamSmithcommendsthewisdomofagovernmentthat,afterconstructingacanal,assignedfuturerevenuestotheengineerwhohadbuiltthecanal,apparentlyinthereasonablebeliefthathewouldbetheonemostcapableofmanagingthecanalinthepublicinterest.Heobviouslypossessedtheappropriateknowledgeandskills,andownershipgavehimtheappropriateincentives.

7(a)Entrepreneursfacetheproblemofpersuadingotherpeopletoaccepttheirguarantees.Oneofthemostcommonwaystodothatistobetheownerofalotofvaluableproductionfacilities,whichoperateasakindofassurancethatyouwon'trunawayandthatyouhavetheresourcestosatisfyyourcontractualobligations.Employeesusuallyjusttakeforgrantedthatthewagesforwhichtheyhavecontractedwillbepaidandpaidontime.Buttheywillbesuspiciousofanemployerwhohasnosettledplaceofbusinessandwhoseonlyaddressisapostofficebox.Wouldn'tyou?(b)Suppliersofsuchinputsasrawmaterials,monetaryloans,andphysicalfacilitiesmustalsotrusttheentrepreneur.Whatpersuadessupplierstoshipgoodsbeforepaymenthasbeenreceived,orbankerstoextendloans,orownersofphysicalfacilitiestoallowsomeonetousethosefacilities?Sometimesit's"deposits";sometimesit'spersonalwealth;sometimesit'satrackrecord.Andsometimesthetrustturnsouttohavebeenmisplaced.(c)Theydosoinreturnforaguaranteedincome.(d)Theydosobecausetheyhaveconfidenceintheirabilitytosucceedattheenterpriseforwhichtheyhavehiredtheemployee,andtheydon'twanttohavetosharedecisio