All entries for Wednesday 17 November 2004

November 17, 2004

Marshall Plan

In the context of Debt Relief in history it occured to me the other day that one of the greatest examples of historical debt relief was the Truman Doctrine and Marshall Plan. The US set up these two systems in order to pull Western Europe and Greece and Turkey out of debt following World War II in hopes of saving them from the Communist vacuum. The US gave aid and then sold American goods in return so not only were the war torn countries getting relief but the American economy was also benefiting. A plan like this I don't think would work so well today with the state most third world economies are in but following WWII the Marshall Plan was an ingenious way for the US to appear as the watchful big brother whilst making a profit off their charges.

November 2004

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