来自《耶鲁大学开放课程：金融理论 第11集 第11集》

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  wages grow every generation, say between 1 and 2 percent in real terms.
  每代人收入都在提高 假设为1-2%
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  That's the historical rate of growth.
  这是一个历史增长率
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  By the way, it hasn't been so great lately,
  顺便说一下 最近没有这么快
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  but anyway, historically, say 1 to 2 percent real growth of wages.
  一般来说 1-2%的工资增长率
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  So on an annualized basis, if you did the same thing with
  在每年的基础上 如果你做了同样的事
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  each generation paying 12 percent of their youthful wages,
  每一代人都支付年轻时收入的12%
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  you would find that--now we're coming closer to reality--
  你会发现 现在我们在接近现实
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  that every generation was going to get between 1 and 2 percent return on their
  每代人从他们贡献中得到1-2%回报率
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  contributions, because the young would contribute 12 dollars out of 100 say,
  因为年轻人每百元就捐了12元
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  but their daughter, that lady's daughter, 30 years later,
  但他们女儿 那个女士的女儿30年后
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  the wages would have grown by 1 to 2 percent every year for those 30 years.
  这30年收入每年都会增加1-2%
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  So 12 percent of that bigger number would go to that daughter,
  较大数值的12%会给那个女儿