The Hidden Hand of American Hegemony

This book explores the significant political and economic shifts that occurred between 1973 and 1980 due to the dramatic rise in crude oil prices.

David E. Spiro challenges the conventional wisdom that capital markets adjusted efficiently to the influx of oil wealth, revealing instead that the U.S.

government engaged in secret deals with Saudi Arabia to sell U.S.

securities, thereby influencing global financial dynamics and supporting U.S.

public debt.

The work is a vital contribution to the literature on international political economy, providing insights into the interplay between American power and global financial systems.