The explanation of this omission is, perhaps, to be found in the assumptions that there is no propensity to hoard and that there is always full employment.

这种遗漏的解释或许可以在没有囤积倾向并且总是充分就业的假设中找到。

The concept of hoarding may be regarded as a first approximation to the concept of liquidity-preference. Indeed if we were to substitute 'propensity to hoard' for 'hoarding', it would come to substantially the same thing.

囤积的概念可以被视为流动性偏好概念的第一个近似值。事实上，如果我们用“囤积倾向”代替“囤积”，结果会大体相同。