FOREIGN RELATIONS: Guns & Butter

In four years of Marshall Planning, Western Europe's gross national product has jumped from a sickly $133 billion in 1947 to a convalescent $164 billion in 1950. But little of this recovery Has yet benefited European workers and consumers. No sooner did shoes and bathtubs begin to flow into Europe than Soviet aggression stirred rearmament talk. Disgruntled Europeans feared that once again they would be cheated of butter to pay for guns.

ECA rejected such thinking. Last week it announced a potentially revolutionary program to provide guns as well as butter by doubling European productivity....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!