Historical evidence shows that for determining a country's living standards, over:

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Historical evidence suggests that over an extended period, long-run growth is much more important than the business cycle for determining a country's living standards. The business cycle is a short-term fluctuations in economic activity, while long-run growth refers to the sustained increase in economic output over time. The long-run growth is more important because it reflects an increase in a country's productive capacity, which ultimately leads to higher living standards. Business cycles, on the other hand, are temporary and can cause fluctuations in output, unemployment, and inflation, which can have negative effects on living standards in the short term.

Historical Evidence Shows That for Determining a Country's Living Standards