ABSTRACT
The economic and political relations between the United States and what has come to be called the Third World of the underdeveloped countries call for examination separately from the relations between the United States and Europe, for a number of reasons. The contrast between the brilliant success of the Marshall Plan and the universally decried bankruptcy of the Alliance for Progress has some value as a symbol of an attempt by American policy-makers once again to live their 'finest hour' and put into effect a national dream still cherished in the depths of their hearts, the dream of enabling other nations to share their own prosperity and civilization. The underdeveloped countries' main exports are primary commodities and raw materials. But the international trade in manufactured goods has increased faster than the trade in foodstuffs and raw materials. The gunboat diplomacy of 1898-1934 coincided with practices of a similar kind which the European powers did not hesitate to use where needed.
