Western Europe: Le Plan
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No Magic. Europe's broad-based economic plans have aroused the curiosity of President Kennedy, who sent several of his top economists on trips to Europe to investigate facets that might be useful in spurring the U.S. economy. They came back generally agreeing that Europe's forms of economic planning would fare poorly in a land that cherishes an anti-cartel spirit, ample capital markets and freedom of industry. Says Chief Presidential Economist Walter Heller: "There is no magic in Le Plan for the U.S."
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