政府论译文第三部分
这一部分只有一章——第五章 论财产
这一章是整本著作的灵魂，它是自然状态理论的结论，而自然状态理论是整个自由主义理论的基石。这一章谈到了自由的本质意义，即包括生命、自由和财产在内的财产权（这一点与今天人们以为的身外之物的财产所有权是不一样的），同时讲解了为什么私有制是必须的而且是必然的，同时为财产的不平等辩护，这也就是为马克思所批判的资本主义辩护，另外，它对货币、商品、交换、市场等进行了详细的推理，是人类第一部经济学著作——亚当·斯密的《国富论》的基础。
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BY 政府論
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A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy. The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It recently surged to a cycle high of more than 1.60% after starting the year below 1%. But according to Jim Paulsen, the Leuthold Group's chief investment strategist, rising interest rates do not represent a long-term threat to the stock market. Paulsen expects the 10-year yield to cross 2% by the end of the year. A spike in interest rates and its impact on the stock market depends on the economic backdrop, according to Paulsen. Rising interest rates amid a strengthening economy "may prove no challenge at all for stocks," Paulsen said.
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