So those are the three basic lessons of general equilibrium.

上面就是总体均衡论的三个要点

implication for whether there should be regulation,

是否有规则管制自由经济

a national, federal, social welfare agency,

一个国家 联邦 社会福利机构

in a land that had lived and breathed this idea

这片土地上一直弥漫着这种思想:

Anybody can be any trade you want.

任何人都可以进行自由贸易

you can be a plumber;

你就可以做个水管工

but there are three other things that I want to concentrate on in the course.

但在课上我还想关注三点

This is a dramatic moment in our history now

当今是人类历史上一个引人注目的时代