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Five D's of WWII Impact
- World War II's economic impact can be categorized by the "Five D's": destruction, death, displacement, dislocation, and disintegration.
- These factors varied significantly across regions and industries, requiring nuanced analysis.
Western Europe's Growth Potential
- Western Europe's post-war growth potential was high due to relatively mild war damage, continued population growth, and limited border changes.
- This potential was further enhanced by the possibility of catching up with the US technologically and in human capital.
Geopolitical Factors in Western Recovery
- Geopolitical factors, like rebuilding trade and resolving the German question, limited Western European recovery initially.
- The Marshall Plan's key role was less about aid and more about fostering cooperation and enabling Germany's reintegration.