The Marshall Plan
Between 1948 and 1951, the Congress authorized more than $13 billion for the European Recovery Program, approximately 10 percent of the annual federal budget. Although some contemporaries may have exaggerated the importance of Marshall Plan assistance in Europe's reconstruction, there is little question that the aid helped overcome bottlenecks within the European economy and created a basis for rapid economic growth. Western European production rose rapidly, and by 1950 it had topped the prewar level by 25 percent.
Although the Marshall Plan was presented as part of the “containment” of Soviet expansionism, Congress initially prohibited the use of Marshall Plan assistance for military supplies. (This did not prevent colonial powers such as the French from indirect use of such assistance to continue their war in Indochina.) After the outbreak of the Korean War in June 1950, the United States reversed this policy and encouraged the use of Marshall Plan assistance to provide for the rearmament of Western Europe within the NATO alliance. At the end of 1951, this change in emphasis became official when the Economic Cooperation Administration was renamed the Mutual Security Administration.
[See also Cold War: External Course; Cold War: Domestic Course.]
Michael J. Hogan , The Marshall Plan: America, Britain, and the Reconstruction of Western Europe, 1987.
Charles S. Maier and Günter Bischof, eds., The Marshall Plan and Germany, 1991.
Thomas A. Schwartz
"The Marshall Plan." The Oxford Companion to American Military History. . Encyclopedia.com. (October 17, 2017). http://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/marshall-plan
"The Marshall Plan." The Oxford Companion to American Military History. . Retrieved October 17, 2017 from Encyclopedia.com: http://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/marshall-plan
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