Harris Warns Special Interests Are Milking European Recovery Plan
Americans who feel that ERP can be used as a weapon to force our brand of free enterprise on Europe are making a serious mistake, warns economics professor Seymour Harris '19.
In his recently published book, "The European Recovery Program," Mr. Harris contends that ERP was inspired by "self-interest rather than charity," and states further that he progress in "being used by special interest groups."
Although the United States should not attempt to force capitalism on Western European nations, Professor Harris believes that the economic recovery of Europe is the best weapon against the spread of communism.
Sabotage of ERP by the USSR is still a "genuine threat," but Mr. Harris maintains that Russian opposition to the recovery program has boomeranged. The aggressive tactics of the Soviet Union have stimulated military and foreign aid expenditures in the United States. The danger of a depression in the U.S. has been postponed by these expenditures, he stated.
Professor Harris terms the twenty billion dollars intended for ERP a "catalyst" which, within four years, will help raise the national income of Western Europe as much as 25 percent. The increased purchasing power of Western Europe should also stimulate non-ERP nations to a quicker economic recovery.
Professor Harris also said that congress, in its recent tax reduction program, betrayed its reluctance to carry out a domestic program supporting ERP.