Search results
Results from the WOW.Com Content Network
The Marshall Plan was only extended to Western Germany after it was realized the suppression of its economy was holding back the recovery of other European countries and was not the main force behind the Wirtschaftswunder. [16] [17] However, it likely greatly contributed to Germany's overall economic recovery. Furthermore, often overlooked is ...
This type of action to help the German economy had been prohibited by the directive. In 1947, the Marshall Plan , initially known as the "European Recovery Program" was initiated. In the years 1947–1952, some $13 billion of economic and technical assistance – equivalent to around $140 billion in 2017 – were allocated to Western Europe.
The economic reforms and the new West German system received powerful support from a number of sources: investment funds under the European Recovery Program, more commonly known as the Marshall Plan; the stimulus to German industry provided by the diversion of other Western resources for Korean War production; and the German readiness to work ...
FERA, WPA and PWA built and repaired the public infrastructure in dramatic fashion but did little to foster the recovery of the private sector. In sharp contrast to Britain, where private housing construction pulled the country out of depression, American cities saw little private construction or investment, and so they languished in the ...
Worries about the sluggish recovery of the European economy (which before the war was driven by the German industrial base) and growing Soviet influence amongst a German population subject to food shortages and economic misery, caused the Joint Chiefs of Staff, and Generals Clay and Marshall to start lobbying the Truman administration for a ...
It has been suggested that Herbert Hoover's March 1947 economic report titled "The necessary steps for promotion of German exports, so as to relieve American tax payers of the burdens of relief and for economic recovery of Europe" helped end the execution of the Morgenthau plan, particularly through the paragraph which stated: "There is the illusion that the New Germany left after the ...
The European post-war economic recovery did not materialise and it became increasingly obvious that the European economy had depended on German industry. [ 2 ] In July 1947, President Harry S. Truman rescinded on "national security grounds" the punitive JCS 1067, which had directed the U.S. forces of occupation in Germany to "take no steps ...
The Works Progress Administration (WPA; renamed in 1939 as the Work Projects Administration) was an American New Deal agency that employed millions of jobseekers (mostly men who were not formally educated) to carry out public works projects, [1] including the construction of public buildings and roads.