So he announced one day that he was going to fire 15 percent of

于是他有一天突然宣布他要
the faculty by attrition.

裁掉耶鲁15%的教职员工
If they were junior faculty he wouldn't promote them,

他不会再提升初级教员
and if they were senior faculty, wait until they retired

高级教员即使不被裁掉
and not replace them.

也只能等着退休
So this, needless to say, caused a tremendous commotion

不必说这在教职员中引起了多大的骚动
among the faculty, and as I told you a committee

甚至还建立了一个委员会
was formed and I had to present the report.

我当时负责陈述报告
So actually the report went pretty carefully through all the

事实上这份报告对白皮书里面的计算
calculations made in the white paper,

做了仔细而详尽的分析
but the heart of the report was simply to apply the lesson of irving Fisher.

但是它的核心仅在于对欧文·费雪理论的运用
So what is the lesson of Irving Fisher?

Irving Fisher的理论是什么呢