When analyzing events at a horizon of 3-7 years, one could safely assume a “classical” model: the economy would return to full employment, while changes in policy and in the economic environment would alter the distribution but not the level of spending, production, and employment. Beyond seven years was the domain of economic growth and economic institutions.
我说，凯恩斯主义（和货币主义）的短期期限是0—2年。在分析3—7年期的事件时，我们最好假设“古典”模型：经济将回到充分就业，政策和经济环境的变化将改变支出、产出和就业的分配而不是水平。超过七年则已经进入了经济增长和经济制度领域。