Word: eca
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...From ECA's very beginning this proposition had been recognized-in theory. But in its first year, ECA, faced with an emergency, tended to the opposite direction. ECA sometimes stimulated fast production in a way that worked against future European economic unity and overall efficiency. Example: before the war, The Netherlands made heavy purchases from Belgium's big railway equipment industry. Today, the Belgians do not want to trade with The Netherlands because the Dutch can pay them only guilders, not now convertible to dollars. Like everyone else in Europe, the Belgians want dollars...
Stultifying? On the eve of last week's Paris conference ECA's Averell Harriman put the issue thus: "...Success [of the ECA program] would be impossible in a system made up of small, autarchic, uneconomic national trading units, each one dedicated to self-defeating self-sufficiency, each one standing off his neighbor with ingeniously stultifying restrictions...
...representatives of OEEC (Organization for European Economic Cooperation) met in Paris. The engagement was screened by a fog of long technical words and its result was inconclusive. When the meeting ended, however, the advantage lay with Britain's Sir Stafford Cripps. He had skillfully checked a drive by ECA and some continental nations to reduce currency exchange barriers between European nations...
...government overseas. He is Lincoin Gordon '33, professor of Government and Administration at the Business School. Gordon, who has spent almost two years working out details of ERP, will fly to Paris to begin a year's assignment as head of the program division in the European headquarters of ECA...
From July, 1947 to the spring of 1948 Gordon was "almost full time" consultant with the State Department, working on ERP. In August, 1948, he was special assistant to Ambassador Harriman in Paris ECA headquarters...