Title: Marshall Plan Definition
Headings: Marshall Plan
Marshall Plan
What Was the Marshall Plan?
Key Takeaways
Understanding the Marshall Plan
History of the Marshall Plan
Examples of the Marshall Plan
Marshall Plan FAQs
How Did the Marshall Plan Generate Economic Growth?
Was the Marshall Plan Successful?
How Did the Marshall Plan Impact the World Bank?
What Was the Molotov Plan?
What Did the Truman Doctrine and the Marshall Plan Have in Common?
Article Sources

Content: Marshall earned the Nobel Peace Prize in 1953 for his efforts, but the lasting effects of the plan went well into the future. The reliance on American aid opened up trading avenues between Europe and the United States. The call for unity among European nations formed the basic idea behind the European Union. Without American intervention, Europe’s vast network of railroads, highways, and airports would not exist in contemporary society. As President Harry Truman said, the United States was the “first great nation to feed and support the conquered.” The Marshall Plan is widely considered one of America's more successful foreign policy initiatives and its most effective foreign aid programs. 1 ﻿ 2 ﻿
Examples of the Marshall Plan
The Marshall Plan had set out several objectives in order to accomplish its goal of preventing the spread of communism and encouraging the development of a healthy and stable world economy. These objectives included the expansion of European agricultural and industrial production, restoring a system of sound currencies, budgets, and finances in individual European countries, and encouraging international trade among European countries and between Europe and the rest of the world. Two agencies were in charge of implementing the Marshall Plan: the U.S.-managed Economic Cooperation Administration (ECA) and the European-run Organization for European Economic Cooperation.