Counter-shock: The Oil Counter-Revolution of the 1980s
- ISBN-10
- 1838608249
- ISBN-13
- 9781838608248
- Category
- Business & Economics
- Pages
- 400
- Language
- English
- Published
- 2018-04-30
- Publisher
- Bloomsbury Publishing
- Authors
- Duccio Basosi, Giuliano Garavini, Massimiliano Trentin
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 global picture 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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