The United States of America emerged from World War II as the world's undisputed superpower economically and militarily. The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Western Europe that gave over $13 billion (nearly $110 billion in 2016 US dollars) in economic assistance to help rebuild Western European communities after the end of the war. The Marshall Plan provided political stability for the world and created a world market for American good.
United States Secretary of State George Marshall delivered an explanatory speech to the graduating class of Harvard on June 5, 1947: