Translate a Jargon-Heavy Economics Paragraph Into Plain English

An economics paragraph full of terms of art lands in your inbox and you need the actual meaning, fast. This strips the jargon into plain English, keeps a technical term only where nothing else will do, and defines it on the spot. For when 'in plain English please' is the whole ask.

Translate the paragraph below from dense economics jargon into plain English that a sharp sixteen year old could follow, without losing the actual meaning.

[paste the paragraph here]

Keep a technical term only where there is no honest plain alternative, and define it in brackets the first time it appears. Match the original length roughly. Do not add examples, opinions, or extra claims that were not in the source text.