From the late 1930’s onward, however, this argument faded as the market economies of the West grew rapidly in the post-World War II period and income distributions became more equal. While there was a business cycle, no perceptible tendency toward chronic demand weakness appeared.
但是，自20世纪30年代末以来，随着西方市场经济在二战结束后的快速增长和收入分配变得越来越公正，这一观点也逐渐销声匿迹了。虽然存在商业周期，但从未出现过需求的慢性疲软趋势。大部分宏观经济学家会说，短期利率总是可以降至足够的水平，刺激合理的就业率和需求。