A Marshall Plan (ERP) For Europe Post WW1?

What if there was a marshall plan/ European Recovery Program post WW1 instead of what actually happened, how would the world have changed? Could it have prevented WW2? Would you have an economic miracle in Europe 50 years earlier? Would Ireland be still in Union with the UK with some devolved powers? Could it have stopped Stallinism before it took root? Would empires have survived?
George Marshall by the way was an incredible organiser by all accounts and this was seen during WW1. But of course the ERP post WW1 doesn't have to be run by him!
 

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Would you have an economic miracle in Europe 50 years earlier?
A distinct probability, Europe did have an economical recovery in the 20s after all, but the depression is probably still going to hit.
Could it have stopped Stallinism before it took root? Would empires have survived?
Probably not for both, the latter was inevitable by 1918, and the former probably wouldn't be part of the Marshal plan.
 
I don't believe that an ERP after WWI would have prevented the Depression, and thus WWII. The problem is this: the US did provide massive amounts of money to Europe after WWI. For example, the Dawes Plan was set up to ease German reparations payments, and help put the German economy back on its feet by the late 1920s. The problem was that the Dawes loans that went to Germany were recycled as reparations to the rest of Europe, which were further recycled as payments of debts to the US. Even if the US money was sent as grants rather than loans there is still a problem -- Europe would be (as it was) heavily dependent on the US economy. When the American economy saw the real estate/financial bubble burst in 1929, US money to Europe would have ended, causing Depression in Europe anyway. European banks were heavily levered (e.g., Creditanstalt), and would have collapsed.

Unless you butterfly the Wall Street crash, an interwar ERP would not have been successful.
 
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