The end of the Second World War brought with it one of the greatest successes in world economic history: the Marshall Plan to rebuild Europe. Led by Congress and fired by Harry Truman's conviction that a prosperous Europe would be a stable Europe, the plan pumped billions into the devastated Continent and produced a rapid snap-back. The lesson for the rest of the world seemed obvious: with enough money and vision, it was possible to build vibrant economies even on the ruins of a bombed-out Continent.
So it was no surprise when, in the early 1950s, that logic began to work...
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