Which of the following statements most accurately describes the european economy of the post-1950s?

journal article

The Marshall Plan: Economic Effects and Implications for Eastern Europe and the Former USSR

Economic Policy

Vol. 7, No. 14, Eastern Europe (Apr., 1992)

, pp. 13-75 (63 pages)

Published By: Oxford University Press

https://doi.org/10.2307/1344512

https://www.jstor.org/stable/1344512

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Abstract

Europe's post-World War II experience with the Marshall Plan is frequently invoked by advocates of Western aid for Eastern Europe and the former USSR. Yet previous analyses of the Marshall Plan are uniformly sceptical that it had important economic effects. This paper finds, in contrast, that the Marshall Plan contributed importantly to Europe's recovery from World War II. Strikingly, however, the obvious channels through which the Marshall Plan could have affected recovery -- stimulating investment, augmenting imports, and financing infra-structure repair -- were relatively unimportant. Rather, post-war Europe was suffering a marketing crisis, in which political instability, shortages of consumer goods and fears of financial chaos led producers to hoard commodities and workers to limit effort. The Marshall Plan solved this marketing crisis by facilitating the restoration of financial stability and the liberalization of production and prices; this was its crucial role. These conclusions have obvious implications for Western aid to Eastern Europe and the successor states of the former USSR.

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In 2005, Economic Policy celebrates 20 years at the forefront of economic policy debate. Over the two decades since its inception, Economic Policy has earned a reputation around the world for publishing the best, cutting-edge analyses of a wide range of key economic issues as they emerge. Economic Policy has published some of the most cited studies anywhere in the world - on financial crises, deregulation, unions, the Euro and other pressing international topics. Articles in Economic Policy are specifically commissioned from first-class economists and experts in the policy field all over the world. Their brief is to illuminate topical policy issues by combining the insights of modern economics with the best available evidence. The presentation is incisive and written in plain language accessible to a wide range of participants in the policy debate.

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Oxford University Press is a department of the University of Oxford. It furthers the University's objective of excellence in research, scholarship, and education by publishing worldwide. OUP is the world's largest university press with the widest global presence. It currently publishes more than 6,000 new publications a year, has offices in around fifty countries, and employs more than 5,500 people worldwide. It has become familiar to millions through a diverse publishing program that includes scholarly works in all academic disciplines, bibles, music, school and college textbooks, business books, dictionaries and reference books, and academic journals.

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journal article

Europe's Golden Age, 1950-1973: Speculations from a Long-Run Perspective

The Economic History Review

New Series, Vol. 51, No. 2 (May, 1998)

, pp. 252-267 (16 pages)

Published By: Wiley

https://www.jstor.org/stable/2599377

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Abstract

Between the American civil war and the Second World War, Europe continuously lost ground to the United States as leader in technology. Between 1950 and the early 1970s the trend was dramatically reversed. The article speculates on the long-run reasons for Europe's catching-up. They are found in favourable ratios of physical to human capital, in matching of the prevailing technology with demand patterns, in the solution to long-standing stability and legitimation problems, in the adaptation and strengthening of co-operative institutions. The role of the state in creating and maintaining consensus is also brought into the picture.

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The Economic History Review publishes articles based on original research on all aspects of economic and social history. The Review is edited on behalf of the Economic History Society by leading scholars. It has been published since 1927 and is one of the world's leading journals in the field. The Review welcomes contributions based on the full range of methodological approaches used by economic and social historians and is pleased to publish high quality research on the economic and social history of any area of the world. The emphasis is on broad coverage of themes of economic and social change, including their intellectual, political and cultural implications. In addition to regular papers, some issues contain contributions to a series of 'Surveys and Speculations' which are more reflective survey articles. For many years past a comprehensive annual list of publications on the economic and social history of Great Britain and Ireland has been published. Each issue also contains a substantial number of book reviews. JSTOR provides a digital archive of the print version of Economic History Review. The electronic version of Economic History Review is available at http://www.interscience.wiley.com. Authorized users may be able to access the full text articles at this site.

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Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. Our online platform, Wiley Online Library (wileyonlinelibrary.com) is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.

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