Oil and the Western Economic Crisis

Nonfiction, Science & Nature, Science, Physics, Energy, Social & Cultural Studies, Political Science, Politics, Economic Conditions, Business & Finance
Cover of the book Oil and the Western Economic Crisis by Helen Thompson, Springer International Publishing
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Author: Helen Thompson ISBN: 9783319525099
Publisher: Springer International Publishing Publication: May 18, 2017
Imprint: Palgrave Macmillan Language: English
Author: Helen Thompson
ISBN: 9783319525099
Publisher: Springer International Publishing
Publication: May 18, 2017
Imprint: Palgrave Macmillan
Language: English

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 argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations. 

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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 argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations. 

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