Liquidity and credit suddenly become scarce and a devastating, value-destroying uncertainty takes hold.

一夜之间，流动性和信用就变成稀缺资源，取而代之的是严重且破坏价值的不确定性。

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And so they began looking for a new model, one that leveraged the power of the Internet without the value-destroying side effects of the Web.

于是他们开始寻找一种新的模式，在不会损害网络价值的前提下利用互联网的能量。

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An audit would make people realize that, while Bernie Madoff defrauded a lot of investors for a lot of money, the Fed has defrauded every one of us by destroying the value of our money.

一场审计会让人民意识到，伯尼·麦道夫不过坑蒙拐骗了许多人赚了许多钱，而美联储却通过摧毁我们货币的价值欺骗了我们每一个人。

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As Mr Sirower notes, lawsuits and the press punish other value-destroying corporate decisions.

ECONOMIST: Bidder beware | The

Instead of publicly denouncing a company's managers as a bunch of value-destroying nitwits, they are quietly negotiating with them.

ECONOMIST: Shareholder activism

But the world's Friedmanites have waged a relentless guerrilla war against the idea, denouncing it as a farrago of value-destroying nonsense.

ECONOMIST: Attitudes to business