“In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making money; non-monopolists can’t. In perfect competition, a business is so focused on today’s margins that it can’t possibly plan for a long-term future. ”

“在商界，钱就是一切，或至少是非常重要。垄断者除了想着赚钱外还有余力想其他事情，而非垄断者就不行。在完全竞争中，企业着眼于短期利益，不可能对未来进行长期规划。”

“Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.”

“要想将企业从每日的生存竞赛中解脱出来，唯一的方法就是：获取垄断利润。”

“But the world we live in is dynamic: it’s possible to invent new and better things. Creative monopolists give customers more choices by adding entirely new categories of abundance to the world. Creative monopolies aren’t just good for the rest of society; they’re powerful engines for making it better.”

“但世界是动态的，我们可以创造更“好的新事物。富有创意的垄断者创造出崭新的事物，给消费者更多的选择。有创意的垄断企业不仅对外界社会没有坏影响，相反，它们是使社会更美好的推动力。”

“If the tendency of monopoly businesses were to hold back progress, they would be dangerous and we’d be right to oppose them. But the history of progress is a history of

better monopoly businesses replacing incumbents.”

“如果垄断企业的趋势是阻碍进步，那我们应该抵制这种危险企业。但是进步的历史事实上是垄断企业不断更新换代的过程。

“Monopolies drive progress because the promise of years or even decades of monopoly profits provides a powerful incentive to innovate. Then monopolies can keep innovating because profits enable them to make the long-term plans and to finance the ambitious research projects that firms locked in competition can’t dream of.”

“垄断企业推动社会进步，因为数年甚至数十年的垄断利润是有力的创新动机。之后垄断企业会不断创新，因为利润给了它们规划长远未来的资本，它们有能力投资雄心勃勃的研究项目，这些是困在竞争之中的企业想都不敢想的。”

“If your industry is in a competitive equilibrium, the death of your business won’t matter to the world; some other undifferentiated competitor will always be ready to take your place.”

“如果你的公司处在竞争平衡中，那它的消失对世界丝毫没有影响，而和你公司相差无几的其他竞争企业随时都准备取代你的位置”

In the real world outside economic theory, every business is successful exactly to the extent that it does something others cannot. Monopoly is therefore not a pathology or an

exception. Monopoly is the condition of every successful business.”

“在经济理论之外的现实世界中，每个企业的成功恰恰就是因为它做了其他企业不能做的事情。因此垄断并不是商界的症结，也不是异常存在，而是每个成功企业的写照。”

“Tolstoy opens Anna Karenina by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Business is the opposite. All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.”

“托尔斯泰在《安娜·卡列尼娜》中以下面这段文字作为开头：“幸福的家庭总是相似的，不幸的家庭各有各的不幸。”而在商业中，情形恰恰相反。企业成功的原因各有不同：每个垄断企业都是靠解决一个独一无二的问题获得垄断地位；而企业失败的原因却相同：它们都无法逃脱竞争。”