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The United States of America emerged from World War II as the world’s undisputed superpower economically and militarily. The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Western Europe that gave over $13 billion (nearly $110 billion in 2016 US dollars) in economic assistance to help rebuild Western European communities after the end of the war. The Marshall Plan provided political stability for the world and created a world market for American good.
United States Secretary of State George Marshall delivered an explanatory speech to the graduating class of Harvard on June 5, 1947:
“The modern system of the division of labor upon which the exchange of products is based is in danger of breaking down. … Aside from the demoralizing effect on the world at large and the possibilities of disturbances arising as a result of the desperation of the people concerned, the consequences to the economy of the United States should be apparent to all. It is logical that the United States should do whatever it is able to do to assist in the return of normal economic health to the world, without which there can be no political stability and no assured peace. Our policy is not directed against any country, but against hunger, poverty, desperation and chaos. Any government that is willing to assist in recovery will find full co-operation on the part of the USA. Its purpose should be the revival of a working economy in the world so as to permit the emergence of political and social conditions in which free institutions can exist.”