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Counter-shock : The Oil Counter-Revolution of the 1980s, PDF eBook

Counter-shock : The Oil Counter-Revolution of the 1980s PDF

Edited by Duccio Basosi, Giuliano Garavini, Massimiliano Trentin

PDF

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Description

The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak.

Compared to the much-debated 1973 `oil shock', the `countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario.

This volume is the first to put the oil `counter-shock' of the mid-1980s into historical perspective.

Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the globalpicture and local study cases.

In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.

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