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Oil and the Western Economic Crisis

4.60  ·  Rating details ·  5 ratings  ·  1 review
This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author ...more
Hardcover
Published April 28th 2017 by Palgrave MacMillan
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Bart
Dec 05, 2017 rated it really liked it
An excellent look at the interplay between oil prices and the economies of Western Europe, the US and Canada. Thompson makes a convincing case that the shale oil boom could only have happened after central bankers had flooded markets with money at near-zero interest rates, and that in spite of the cheap-money-fueled boost to shale drillers, Western geo-political influence is waning.

My full review is at:
http://www.resilience.org/stories/201...
...more
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Helen Thompson is Professor of Political Economy in the Department of Politics and International Studies at the University of Cambridge, UK. She is currently principal investigator on a research project on austerity and its consequences within the EU, which is financed by the Philomathia Foundation.

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