![The Oil Revolution of 1973](https://cdn.newsserve.net/ONPglobe256.png)
The Oil Revolution of 1973
The abrupt quadrupling of the oil price in the final months of 1973 is widely held to have marshalled the end of “a golden age of world capitalism.” Eric Hobsbawm’s standard-setting interpretation defines 1973 as the turning point when the world “lost its bearings and slid into instability and…
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