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The Organization for Economic Co-operation and Development (OECD) encourages the development of new and enhanced economic policies for the social well-being of people around the globe. It provides a forum for the governments of developed nations and developing nations to work together to share experiences and seek solutions to common issues.
The organization for European Economic Co-operation (OEEC) was formed after the Second World War for the economic development and stabilization of European countries which were under financial crisis after the war. The OEEC also worked to avoid the post-World War I mistakes of punishing the defeated, in order to ensure long lasting peace in the continent. It was established in 1947 to assist and support the Marshall Plan to reconstruct and redevelop the European continent, which was completely destroyed by the Second World War. It invoked a sense of unity and cooperation between the European countries by making them realize the economies of all European countries are interdependent on each other.
