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The President’s Inbox

America at 250: The Marshall Plan, With Benn Steil

The President’s Inbox

Council on Foreign Relations

Politics, News:politics, News

4.4734 Ratings

🗓️ 3 June 2026

⏱️ 40 minutes

🧾️ Download transcript

Summary

This episode unpacks how the Marshall Plan transformed postwar Western Europe and why security, allied cooperation, and forward thinking were the real keys to its enduring success.   To mark the 250th anniversary of the U.S. declaration of independence, CFR is dedicating a yearlong series of articles, videos, podcasts, events, and special projects that will reflect on two and a half centuries of U.S. foreign policy. Featuring bipartisan voices and expert contributors, the series explores the evolution of America’s role in the world and the strategic challenges that lie ahead.   Host: James M. Lindsay, Mary and David Boies Distinguished Senior Fellow in U.S. Foreign Policy, CFR   Guest: Benn Steil, Senior Fellow and Director of International Economics, CFR   We Discuss: How the British Empire’s rapid collapse in early 1947 forced the United States to assume responsibility for Western European security. What George Marshall’s six weeks of negotiations in Moscow revealed about Soviet intentions in Germany and Western Europe. How Marshall deliberately crafted the plan’s offer to include the Soviet Union while ensuring Soviet leader Joseph Stalin would reject it. How Congress, controlled by Republicans, was persuaded to support a massive foreign aid program from a Democratic administration. Whether the Marshall Plan's $13 billion actually explains Western Europe’s economic recovery in the late 1940s. What role NATO played in making the Marshall Plan work, and why the French and British insisted on security guarantees before cooperating. Why security has to precede economic reconstruction—and what Afghanistan and Iraq  reveal about ignoring that lesson. What Senator Henry Cabot Lodge Jr.’s 1947 prediction about sustained alliances tells us about the stakes of U.S. foreign policy today.   Mentioned on the Episode:   The 10 Best and Worst Decisions in U.S. Foreign Policy, Council on Foreign Relations   Benn Steil, The Marshall Plan: Dawn of the Cold War   George Kennan’s Long Telegram, February 22, 1946   “Sinews of Peace (‘Iron Curtain’ Speech).” at Westminster College, Fulton, Missouri, March 5, 1946.   Harry Truman, “The Truman Doctrine,” Address to Congress, March 12, 1947   George C. Marshall, Commencement Address at Harvard University June 5, 1947   For an episode transcript and show notes, visit The President’s Inbox at: https://www.cfr.org/podcasts/presidents-inbox/america-at-250-the-marshall-plan   Opinions expressed on The President’s Inbox are solely those of the host or guests, not of CFR, which takes no institutional positions on matters of policy.

Transcript

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0:00.0

George Marshall wanted to make absolutely clear that our job was to reinvigorate the productive capacity of Western Europe as quickly as possible,

0:12.0

and that this was a national security priority of the United States.

0:18.0

World War II left Europe in ruins.

0:22.6

Hopes that life would quickly return to normal rapidly faded.

0:25.6

A weak and demoralized Europe looked ready to all prey to communist propaganda and Soviet

0:31.6

influence.

0:32.6

Worried that the United States had won the war but was losing the peace, President Harry

0:36.6

Truman responded with the Marshall Plan.

0:38.7

It changed the course of history. What did the Marshall Plan do? Why were Americans willing to support it?

0:45.0

And what lessons does it teach us about foreign policy today? From the Council on Foreign Relations,

0:51.7

welcome to the president's inbox. I'm Jim Lindsay.

0:54.6

Joining me today is Ben Steele, Senior Fellow and Director of International Economics at the Council on Foreign Relations, an author of the book, The Marshall Plan, Dawn of the Cold War.

1:05.6

Ben, thank you joining me.

1:07.1

Thanks for having me, Jim.

1:08.9

Now, Ben, in recognition of the 250th anniversary of American independence,

1:14.1

I am devoting one episode of the president's inbox every month to a pivotal moment in the history of U.S. foreign policy,

1:22.4

the Marshall Plan, which Secretary of State George C. Marshall publicly reposed in a commencement address

1:29.9

at Harvard University on June 5, 1947, certainly qualifies on that score. A recent survey I did

1:39.0

with members of the Society for historians of American Foreign Relations ranked the Marshall Plan as the best decision

1:46.5

in the history of U.S. foreign policy.

1:50.0

Now, my sense is that you can only understand the Marshall Plan by first understanding the dramatic

1:56.1

shift in U.S. thinking in the two years since World War II ended, you have described that shift

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