THE US MARSHALL PLAN AND THE POST-WORLD WAR II RECONSTRUCTION OF EUROPE, 1947-1970: ECONOMIC AND DIPLOMATIC STUDY
DOI:
https://doi.org/10.47672/ajir.806Keywords:
US, Marshall Plan, World War II, Economic Reconstruction, Europe.Abstract
Purpose: This paper examines the immensity of the Marshall Plan in Europe in three subsections: the basis for its creation, its logistical implementation, and the fallouts on Europe as a whole and the United States of America.
Methodology: The pitfalls of the Marshall Plan are further categorized into three rubrics: direct economic effects, indirect economic effects, and political effects.
Results: Based on the theoretical and qualitativer methods, the paper argues that there is a dearth of evidence to show that direct economic outcomes accounted for the Marshall Plan’s success. Rather, the indirect economic consequences, especially in the putting into place of liberal capitalistic policies, and the political effects, specifically the model of European integration and government-business partnerships, were the key vectors for Europe’s unsurpassed growth in the aftermath of the Second World War.
Unique contribution to theory and practice: Follow-on support, less complexity, inclusiveness of faith-based networks and economic aid packages that incorporate nuances of local culture and political economy, the paper suggests, will better off effectiveness of “fat elephant” recovery schemes to the scale of the Marshall Plan, for wars’ squashed economies in need of a resurgence.
Downloads
References
ADB (2005). A Pacific Strategy for the Asian Development Bank 2005 - 2009. Resdponding to the Priorities of the Poor. Manila.
Crafts, N. (2011). The Marshall Plan: A Reality Check. University of Warwick Working Paper Series, 49.
Chikere Cornell C and Nwoka, Jude, (2015) “The System Theory of Management in Modern Day Organization- A Study of Aldgate Congress Resort Limited Port Harcourt”, International Journal of Scientific and Research Publications, Volume 5. Issue 9. Septemeber, 1-7.
De Long, B., & Eichengreen, B. (1991). The Marshall Plan: History’s most successful structural adjustment program.
Duignan, P., & L.H., Gann (1997). The Marshall Plan. Hoover Digest, 4, 1.
Gubin, E. (1948). How to do business under the Marshall Plan. Kiplinger Magazine, 5, 5-16.
Hitchens, H. (1968). Influences on the congressional decision to pass the Marshall Plan. Western Political Quarterly,21, 51-68. doi:10.2307/446512
Hogan, M. (1987). The Marshall Plan. New York: Press Syndicate of The University of Cambridge. doi:10.1017/CBO9780511583728
Kindlebeger, C (1968). The Marshall Plan and the cold war. International Journal. 23, 369-382.
Mallelieu, W. (1958). Origins of the Marshall Plan: A study in policy formulation and national leadership. Political Science Quarterly, 3, 481-504. doi:10.2307/2146027
Marshall, G. (1947). Commencement speech. Cambridge, MA: Harvard University.
McShane S. L. And Von Glinow M (2003) Emerging Realities for the workplace revolution, second edition. McGraw-Hill, New York.
Truman, H. (1947). Address before joint session of congress. Washington DC.
Von Bertalanffy, Ludwig (1973), General System Theory (Revised Edition), George Braziller, New York.
Weihrich H, et al (2008) Management. A global and entrepreneurial perspective. Twelfth Edition, McGraw-Hill, New Delhi.
Downloads
Published
How to Cite
Issue
Section
License
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution (CC-BY) 4.0 License that allows others to share the work with an acknowledgment of the work’s authorship and initial publication in this journal.
