The United States and the Reconstruction of Germany in the 1920s

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Abstract
The foreign economic policy of the United States in the aftermath of World War I was not isolationist, but selectively interventionist. With a group of very able American businessmen-diplomats in the lead, the nation pressured the French to accept the Dawes Plan, which, it was hoped, would solve the reparations problem, encourage healthy economic recovery and growth (which would embrace large sales of American capital goods to Germany), and ensure peaceful contentment in two nations that were more bitter enemies than ever. But, Professor Costigliola shows, a plan to rebuild Germany that was half private business and half foreign policy, and that was manipulated to both ends, could not succeed in the marketplace, where it had to live or die.

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