The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
Three speeches had a decisive impact on the economic and political rehabilitation of Europe after World War II: Winston Churchill's in Zurich in 1946 about a United States of Europe; George Marshall's at Harvard in 1947, offering American aid to Europeans struggling to escape their postwar predicament; and Robert Schuman's in Paris in 1950, proposing communal control of Europe's coal and steel resources. It would, of course, be unfair and historically inaccurate to credit these three men alone with Europe's successful revival. Many other leaders were instrumental in rebuilding the continent, and if not for Stalin's imperialism, many courageous acts in the United States and Western Europe, among them Secretary of State Marshall's plan, would have gone undone.
To understand the effects of the Marshall Plan, one must first comprehend what life was like for ordinary Germans, like me, toward the end of World War II and in those first turbulent years afterward.