The mythos of foreign aid lives on in politicians' constant appeals to the Marshall Plan as a source of inspiration for pushing new foreign aid ventures.
The Marshall Plan refers to the economic recovery package sent to western European countries after World War II. Per conventional wisdom, Europe's ability to bounce back from the devastation wrought by World War II is largely attributable to the Marshall Plan's disbursements of aid, which totaled more than $100 billion in 2018 dollars.
The French leader averred, "The Marshall plan was a reconstruction plan, a material plan in a region that already had its equilibriums, its borders, and its stability. The problems Africa faces are completely different, it is much deeper. It is 'civilizational.'" Macron's blunt commentary disappointed the journalist class, who were hoping to get a politically acceptable response.
Strictly speaking, the Marshall Plan wasn't working with a blank slate, and functioned as a reconstruction plan that nominally sought to restore the pre-World War II equilibrium in the region.
Historian Tom Woods has argued convincingly that the economic liberalization in countries such as West Germany facilitated robust economic growth more than the aid from the Marshall Plan.
Despite what college textbooks say, the lifting of wartime economic controls was the decisive factor behind many European countries' growth following World War II, not the Marshall Plan.
Due to institutional shortcomings inherent to the region and the flawed nature of foreign aid, a Marshall Plan for Central America would not pan out the way that many of its boosters such as Julian Castro would have us believe.
https://mises.org/wire/marshall-plan-myth-lives
The Marshall Plan refers to the economic recovery package sent to western European countries after World War II. Per conventional wisdom, Europe's ability to bounce back from the devastation wrought by World War II is largely attributable to the Marshall Plan's disbursements of aid, which totaled more than $100 billion in 2018 dollars.
The French leader averred, "The Marshall plan was a reconstruction plan, a material plan in a region that already had its equilibriums, its borders, and its stability. The problems Africa faces are completely different, it is much deeper. It is 'civilizational.'" Macron's blunt commentary disappointed the journalist class, who were hoping to get a politically acceptable response.
Strictly speaking, the Marshall Plan wasn't working with a blank slate, and functioned as a reconstruction plan that nominally sought to restore the pre-World War II equilibrium in the region.
Historian Tom Woods has argued convincingly that the economic liberalization in countries such as West Germany facilitated robust economic growth more than the aid from the Marshall Plan.
Despite what college textbooks say, the lifting of wartime economic controls was the decisive factor behind many European countries' growth following World War II, not the Marshall Plan.
Due to institutional shortcomings inherent to the region and the flawed nature of foreign aid, a Marshall Plan for Central America would not pan out the way that many of its boosters such as Julian Castro would have us believe.
https://mises.org/wire/marshall-plan-myth-lives
No comments:
Post a Comment