1. favour and disgrace would seem equally to be feared; honour and great calamity, to be regarded as personal conditions (of the same kind).

2. what is meant by speaking thus of favour and disgrace? disgrace is being in a low position (after the enjoyment of favour). the getting that (favour) leads to the apprehension (of losing it), and the losing it leads to the fear of (still greater calamity):--this is what is meant by saying that favour and disgrace would seem equally to be feared. and what is meant by saying that honour and great calamity are to be (similarly) regarded as personal conditions? what makes me liable to great calamity is my having the body (which i call myself); if i had not the body, what great calamity could come to me?

3. therefore he who would administer the kingdom, honouring it as he honours his own person, may be employed to govern it, and he who would administer it with the love which he bears to his own person may be entrusted with it.

寵辱若惊，貴大患若身。

何謂寵辱若惊？寵為下，得之若惊，失之若惊，是謂寵辱若惊。

何謂貴大患若身？吾所以有大患者，為吾有身，及吾無身，吾有何患？

故貴以身為天下，若可寄天下；愛以身為天下，若可托天下。

【译文】

得宠与受辱一样，都是对身心安宁的惊扰；重视大患等同于对身家的珍重。为什么说得宠也像受辱一样使人惊扰呢？因为：就其对人的惊扰程度而言，得宠更为下劣：得到它的时候为之惊喜难安，失去它的时候又为之惊慌恐惧，所以说得宠与受辱一样，都是对身心安宁的惊扰。为什么说重视大患等同于对身家的珍重呢？因为：我之所以会看重大患，是因为我有这个非顾虑大患不可的身家，如果我连这身家也置之度外，那么，还会有什么私已的大患可以干扰得了我呢？所以，像看重自己的身家一样看重天下的人，可以守护天下；像爱养自己的身家一样爱养天下的人，可以托付天下。