Marshall Plan

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Marshall Plan

After World War II, Europe was devastated and urgently needed an organized plan for reconstruction and economic and technical aid. The Marshall Plan was initiated in 1947 to meet this need.

The originator of the plan, U.S. Secretary of State George C. Marshall, introduced it in a speech at Harvard University on June 5, 1947. He pointed out two basic reasons for providing aid to Europe: the United States sought the reestablishment of the European countries as independent nations capable of conducting valuable trade with the United States; and the threat of a Communist takeover was more prevalent in countries that were suffering economic depression.

In 1947 a preliminary conference to discuss the terms of the program convened in Paris. The Soviet Union was invited to attend but subsequently withdrew from the program, as did other Soviet countries.

Sixteen European countries eventually participated, and, in July 1947, the Committee for European Economic Cooperation was established to allow representatives from member countries to draft a report that listed their requirements for food, supplies, and technical assistance for a four-year period.

The Committee for European Economic Cooperation subsequently became the Organization of European Economic Cooperation, an expanded and permanent organization that was responsible for submitting petitions for aid. In 1948, Congress passed the Economic Cooperation Act (62 Stat. 137), establishing funds for the Marshall Plan to be administered under the Economic Cooperation Administration, which was directed by Paul G. Hoffman.

Between 1948 and 1952, the sixteen-member countries received more than $13 billion dollars in aid under the Marshall Plan. The plan was generally regarded as a success that led to industrial and agricultural production, while stifling the Communist movement. The plan was not without its critics, however, and many Europeans believed the Cold War hostilities between the Soviet nations and the free world were aggravated by it.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
391, 7 May 1947, Department of State on the address of Under-Secretary of State Dean Acheson before the Delta Council, Cleveland, on 8 May 1947, box 47, Dean Acheson Papers, Manuscripts and Archives, Yale University, New Haven CT; Recovery in Europe: the First Two Years of Marshall Aid (London, 1950), p.
goods and equipment, "Marshall aid recycled part of that surplus."4
This same subject is addressed more specifically in the second chapter, where the author examines the role of Marshall Aid, the Bretton Woods System, and GATT in the emergence of the "development project." His description of the "remaking of the international division of labor" is not dissimilar from what has been said elsewhere many times, but the strength of this chapter lies in the author's insightful and significant work on the growth of the "international food regime." The construction of global food interdependency, centered on US agriculture production and technology, reveals a side to postwar economic development that is often overlooked.
And equaling more than five times the amount spent on the Marshall Aid Plan to Europe.
The author, Anthony Carew, lecturer in industrial relations at the University of Manchester in England, lumps together all these activities, stretching to 1960 and beyond, under the rubric of "Marshall Aid."
We also received more Marshall Aid from America after the war than other European countries.
However, what is not so well known is the fact that these achievements were only possible because of Marshall Aid and huge loans from the Americans.
Past masters of this sort of policy are the Americans who gained tremendous influence in Europe after the war through the distribution of Marshall Aid to countries in Europe that were devastated.
Occasionally, though, he does give the Left its due, recognising the achievements of the New Dealers in crafting Marshall Aid.
1930 - The first World Cup football tournament kicked off in Uruguay1939 - Frank Sinatra made his first record, From The Bottom Of My Heart, with the Harry James Band1947 - Europe accepted Marshall Aid, the US financial package after World War II1955 - Ruth Ellis was the last woman hanged in Britain at Holloway Prison1974 - Charles Aznavour was at No 1 with She
Early on in the form of Marshall Aid and through multilateral organizations, such as the World Bank, whose first loan to Finland was given in 1949.