Title: Economic Reconstruction in Europe After WWII: Recovery Programs & Their Effect - Video & Lesson Transcript | Study.com
Headings: Economic Reconstruction in Europe After WWII: Recovery Programs & Their Effect
Economic Reconstruction in Europe After WWII: Recovery Programs & Their Effect
Lesson Transcript
Economic Reconstruction Post-WWII
Post-War Europe
Debate
Marshall Plan
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Economic Reconstruction in Europe After WWII: Recovery Programs & Their Effect
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Content: Indeed, some of this cash given in aid came back to the U.S. economy through trade deals with European economies. The Marshall Plan also won political points for the United States in its growing Cold War with the Soviet Union. Through giving economic aid and fostering the growth of capitalism in Europe, the United States created a capitalist bulwark against the growing spread of communism. Lesson Summary
The Marshall Plan had two purposes: one economic and one political. Economically, Secretary of State George Marshall realized the United States needed strong trade partners, especially in Europe, if wartime production levels and its full employment were to be a step on the way to full recovery from the Great Depression and not just merely a successful interlude. The aid not only created these trading partners, but helped the devastated European economies get back on their feet far quicker than if they had been left to figure it out for themselves. Furthermore, the Marshall Plan and Truman Doctrine helped foster the spread of capitalism and insulate the United States' European allies from the spread of communism. Learning Outcomes
Completing this lesson could enable you to: Have a discussion about the expansive economic upheaval that occurred in Europe after WWII
Identify the Marshall Plan as instrumental in bringing the European and Japanese economies back
Understand how this plan aided the U.S. in fostering capitalism as well as improving our own economic situation overall
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