The Hidden Hand of American Hegemony
David E. Spiro
Gebundenes Buch

The Hidden Hand of American Hegemony

Petrodollar Recycling and International Markets

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Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies.