ECON 1740 Lecture Notes - Lecture 18: Marshall Plan, Laissez-Faire
28 Nov 2016
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Used to help get wages and benefits up. If you are in union, you may miss out on opportunities. Acts as a safety net: doesn"t give full power to one side or the other. Post wwii: the golden age and beyond: europe was destroyed. Had to buy everything from us: the great boom. 1945-1970 known as golden age in the us. In this time the us economy doubled in size. We had production ability and the rest of the world bought from us. Everything double because people had babies: marshall plan(1948-1951 right after wwii) Goal: restore western europe"s agricultural and industrial productivity. Us provided billion of economic assistance. Us does this to prevent another world war and brought in huge amounts of. 3199 and prevent spread of communism: market for us goods. Without western europe as a trading partner the us economy would have declined: capital-labor accord. An agreement between workers (unions) and capitalists in the us s of.
