Marshall Plan

 

The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Western Europe, in which the United States gave $13 billion (approximately $130 billion in current dollar value as of March 2016) in economic support to help rebuild Western European economies after the end of World War II. The plan was in operation for four years beginning April 8th 1948. The goals of the United States were to rebuild war-devastated regions, remove trade barriers, modernize industry, make Europe prosperous again, and prevent the spread of communism. The Marshall Plan required a lessening of interstate barriers, a dropping of many regulations, and encouraged an increase in productivity, labour union membership, as well as the adoption of modern business procedures. The concept was in the news recently. To know more click the above link titled ‘Related News’.