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apr 3, 1948 - Marshall Plan

Description:

With Europe being ravaged from the war, suffering a terrible winter, and having the consumer market collapse, made the U.S. worry over its own future. If Europe, their main buyer of foreign goods was unable to do so, and if Europes economy continued to decline, it could have caused another depression in the U.S. Also, people in desperate times may have been more inclined to turn to communism. In response to this, the U.S. enacted the Marshall Plan, which gave aid to rebuild the European economy. There were strings attached to this gift. Through this plan, the U.S. was able to spread its capitalistic influence and keep people from resorting to communism. This worsened the tensions between the Soviet Union and the United States, as they both competed for control of Europe.

Added to timeline:

19 Mar 2022
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Date:

apr 3, 1948
Now
~ 77 years ago