First, countries did not view their sovereign debt as a binding constraint, and instead pursued investment and potential growth. Second, they cooperated with one another on multiple fronts, and the countries with the strongest balance sheets bolstered investment elsewhere, crowding in private investment.
战后经济复苏有两个显著特点。首先，各国没有将主权债务视为硬约束（binding constraint），而是追求投资和潜在增长。其次，它们在诸多前沿彼此合作，资产负债表最强的国家帮助别的国家刺激投资，吸引私人投资。冷战的爆发也许鼓励了这一方针。如论如何，各国并没有各自为战。