Abstract

Everybody's Business
Hutchison, Keith | November 12, 1949 issue

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In his address to the Council of the Marshall Plan Nations on October 31, 1949, Paul Hoffman, ERP administrator, said there were now two urgent economic tasks confronting Western Europe. The first was to balance Europe's trade with the dollar area; the second, on which Hoffman put much greater, emphasis, was the building of an expanding economy through economic integration, the substance of which would be "the creation of a permanent, freely trading area comprising 270,000,000 consumers in Western Europe." With such a development, Hoffman suggested, there could be a rapid growth in productivity, which would enable Europe to improve its competitive position in the world and raise its standards of living.

See Also:

EUROPE -- Economic integration; INTERNATIONAL economic relations; INTERNATIONAL trade; PRODUCTION (Economic theory); CONSUMERS; HOFFMAN, Paul; EUROPE
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