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Leaders of the Marshall Plan include George C. Marshall, Paul G. Hoffman, and Averell Harriman. Marshall was a 5-star general from World War II and held the position of Secretary of State in Truman's cabinet. Chosen for is with business and financial experience; Hoffman was the president of Studebaker automobile company and was appointed head.The Economics Society of the University of Cambridge. Provides an introduction to the society, its events, history, and committee, together with membership information, and useful links.The Marshall Plan formed the greatest voluntary transfer of resources from one country to another known to history. Technically known as the European Recovery Program, the plan was passed by the U.S. Congress with a decisive majority and was signed by President Truman on April 3, 1948--just in time to influence the Italian election in that year.
The Marshall Plan was an apparent economic extension of the Truman Doctrine which sought to extend economic aid to all devastated European countries. At the end of the Second World War, starvation and economic crisis threatened to overtake many European nations. Most peoples’ means of subsistence had been totally destroyed.The Marshall Plan officially known as the European Recovery Program or ERP, it was the primary plan during 1947-51 to help with assistance. The United States rebuilt and created a stronger economic democracy for the states of Europe. At the terminal of World War II, the United States went on a venture to reconstruct Europe.
The Marshall Plan apart from its economic value became the factor consolidating Europe. “The objective of the Marshall Plan was not to solve the problem of poverty by handouts and welfare systems, but rather to foster successful enterprises which would create productive jobs with a genuine future.
