Real oil shock, the: how oil transformed money, debt, and finance
Auteur :
Smith, Ryan C.
Éditeur :
Springer International Publishing AG
ISBN :
9783031071300
Date de publication :
1 sept. 2022
Dimensions :
21,0 x 14,8 cm
Langue :
Anglais
Pays d'origine :
Suisse
What few address is the role of the 1973 OPEC Oil Embargo and the 1979 Oil Shock in making modern financialization possible. Here, it will be demonstrated that the dramatic transfer of wealth from the industrialized, capitalist world to OPEC’s members triggered by the Oil Embargo and the Oil Shock created a vast pool of liquid capital.