Keynes's theory allowed the Western economies get out of the long depression of the '30s. In the postwar Keynesian policies, however, began to show the first signs of crisis due to the growth of public spending. Governments endorsed the support to domestic demand with ease but was not as willing to cut it. Social forces, trade unions, companies and public operators themselves pressed for maintaining the status quo. Therefore, public spending was inflexible down and lost the initial function of offset during periods of economic crisis to turn into a heavy cost of constant voice in the public accounts. On the one hand, it created new problems in public finance to seek media coverage of public expenditure (increase taxes, borrowing, issuing of currency). The other, the pressure of public spending in periods of expansion caused a push towards inflationary. In the '70s, inflation had become the new problem of modern capitalist economies. The phenomenon became known and marked, especially during the external shocks in oil prices. Economic systems showed themselves incapable of controlling inflation in the prices and the effects were accentuated on the whole society. In this period, the Keynesian theory suffered strong criticism both in academic and political as well until it was replaced by the emerging theory monetarist Milton Friedman that could better explain the economic phenomena of the '70s.
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