This is a dangerous cycle whatever your economic beliefs. Doctors who prescribe antibiotics warn their patients that they must complete the full course even if they feel much better quickly. Otherwise they risk a recurrence of illness and worse yet the development of more antibiotic resistance. So too with economic policy. Advocates of orthodoxy prize consistency. Those like me whose economic thinking emphasises promoting demand worry that expansionary policies carried out for too short a time will prove insufficient to kick-start growth while at the same time discrediting their own efficacy and reducing confidence.

无论你秉持哪种经济观点，这都是一种危险的循环。医生开抗生素时会告诫病人，即便病情很快好转，也一定要吃完整个疗程。否则不仅病情可能复发，更糟的是，还会导致更多病菌产生抗药性。经济政策也是一样。正统观点的支持者看重连贯性。经济观点偏重促进需求的人（比如我）担心的是，扩张性政策如果维持的时间过短，可能不仅不能快速启动增长，反而会损害政策本身的可信度，降低人们对政策的信心。

The Tokyo meetings may not have had immediate impact. But the IMF’s emphasis on the need to sustain demand and its recognition of the importance of avoiding lurches to austerity can be very important for the medium term only if it is sustained through the next round of economic fluctuations.

【世界经济仍在恶性循环】相关文章：

★ 第三季公司收入预示美国经济不容乐观

★ 美国经济亟需解决的问题

★ 小驴儿

★ 日本经济面临两难抉择

★ 大象选美：大块头也有美丽容颜

★ 教育代金券可行么？

★ 双语：情人节表白秘籍 教你写封甜蜜情书

★ 世界各地喜迎新年

★ 阿联酋重金奖励夺奥运奖牌运动员

★ 英经济政策重演哈布斯堡的衰落