Bridging the Gap between Rich and Poor: American Economic Development Policy toward the Arab East, 1942-1949

By Nathan Godfried | Go to book overview

Overall, the United States favored this type of Third World economic development. Imperial state and corporate elites recognized the advantages of such development to the American economy. Americans had great faith in their ability to extend economic and technological resources to underdeveloped regions and still maintain industrial leadership. American leaders sought to universalize their conviction that, in a market economy, benefits flow to all participants.( 92) According to American state planners, a rational world economy based on economic liberalism would produce postwar peace and prosperity. Since reconstruction and development would be natural by-products of this system, there was no need for specific plans for development in poor regions. A consensus emerged among imperial state policymakers and capitalist class elites on the advantages of Third World development. A tactical debate raged between New Deal liberals such as Henry Wallace and corporate elites such as Will Clayton over the need for international New Deal institutions and programs for social and economic reform in the world-system. By 1944 the power of the corporate sector in the imperial state bureaucracy had overwhelmed Wallace and his allies. The capitalist class-imperial state axis agreed on the ways to achieve development in the periphery--through free world trade, an international open door, and the free flow of technology, capital, and knowledge.


NOTES
1.
U.S. Department of State, Foreign Relations of the United States, 1941, vol. 1, p. 368 (hereafter FRUS, followed by appropriate year and volume); Alfred Eckes, A Search for Solvency: Bretton Woods and ' the International Monetary System, 1841-1971 ( Austin: University of Texas Press, 1975), pp. 38-50; Robert Asher, Walter M. Kotschnig, and William A. Brown Jr. , The United Nations and Economic and Social Co- Operation ( Washington, D.C.: The Brookings Institution, 1957), p. 35.
2.
David W. Eakins, "Business Planners and America's Postwar Expansion," in David Horowitz, ed., Corporations and the Cold War ( New York: Monthly Review Press, 1969), p. 143.
3.
"An American Proposal," Fortune 25 ( May 1942): 61; "Fortune Management Poll," Fortune 29 ( May 1944): 28; V. L. Horoth , "New Trends for Trade after the War," The Magazine for Wall Street 70 ( 25 July 1942): 373-74, 414; Editorial, "The British Empire and the United States," Fortune 29 ( January 1944): 94-95; Eugene Staley, World Economic Development: Effects on Advanced Industrial Countries ( Montreal: ILO Studies and Reports, Series B, No. 36, 1944), pp. 17-19. Also see Mortiz J. Bonn, "Constructive Imperialism in a New World," Trusts and Estates 74 ( February 1942): 129-31; What Peace Will Bring ( Farrel-Birmingham Company, 1941).
4.
Brownless Haydon to Louis Bean, 19 May 1944, Subject File 1923-53, Industrialization, Louis Bean Papers, FDR Library, Hyde Park, New York; George E. Anderson, "International Pump Priming," Banking 32 ( August 1939): 20-21; Marcus Nadler, "Postwar International Economic Position of theUnited States,"

-52-

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Bridging the Gap between Rich and Poor: American Economic Development Policy toward the Arab East, 1942-1949
Table of contents

Table of contents

  • Recent Titles in Contributions In Economics and Economic History Series Editor: Robert Sobel ii
  • Title Page iii
  • Contents vii
  • Abbreviations ix
  • Preface xi
  • Acknowledgments xiii
  • Prologue 1
  • Conclusion 18
  • Notes 19
  • 1 - Economic Development as a Postwar Goal 28
  • Notes 52
  • 2 - Reconstruction Versus Development: 1946-1949 62
  • 3 - Reconstruction Versus Development: Financial and Technical Aid 96
  • Notes 113
  • 4 - America's Development Policy and the Arab East: 1942-1949 121
  • 4 America's Development Policy and the Arab East: 1942-1949 137
  • 5 - Arab East Development and the United States, 1942-1949: Case Studies 149
  • Conclusion 173
  • Notes 175
  • Epilogue: The United States and Third World Development 185
  • Notes 196
  • Appendix 199
  • Notes 203
  • Select Bibliography 205
  • Index 217
  • About the Author 225
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