मार्शल योजना ने द्वितीय विश्व युद्ध के पश्चात् यूरोप की आर्थिक पुनर्निर्माण और राजनीतिक स्थिरता को किस प्रकार प्रभावित किया? (उत्तर 150 शब्दों में दीजिए) / How did the Marshall Plan influence the economic recovery and political stability of post-war Europe? (Answer in 150 words)

Role in Economic Recovery: Provided billions of dollars in aid. Supplemented World Bank (International Financial Bank for Reconstruction & Development) with long term loans. Was led to declining surplus—Marshall Plan ensured demand led growth. Provided Investment Fallup resulting in high growth rate in European economies. Increased aggregate demand of Europeans. As Europe experienced decolonization and loss of revenue, Marshall Plan ensured sustenance.

As this was economic recovery, political stability was eased. Formation of NATO led alliance which outsourced security to United States of America. Marshall Plan ensured unity in Europe and procurer to Customs Union which led to integration. Political stability due to buildup of Bretton Woods institution helped in resolving issues. Led to rise of USA as hegemon and thus Europe focused more on human development.

— Akansh Dhull · AIR 3