Global Economics Update: Crafting Economic Strategy
June 25, 2012
“It is logical that the United States should do whatever it is able to do to assist in the return of normal economic health in the world, without which there can be no political stability and no assured peace.”
So said Secretary of State George Marshall in a speech at Harvard 65 years ago this month that launched what came to be known as the Marshall Plan. It took Marshall fewer than 1,500 words—commonsense words, with little soaring rhetoric—to make the case for deploying U.S. economic might in support of rebuilding Europe. A military man, Marshall nevertheless understood that economics was an essential tool of American statecraft.