/276/ Broken Promises ft. Fritz Bartel
Bungacast
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The Oil Crisis and the Soviet Union
The oil crisis is far from the only factor that produces staglation in the west, but it is certainly one that accelerates that process. The eastern block op governments themselves are also turning to these uro dollar markets as a means of avoiding having to impose any kind ofa structural adjustment or austerity policy domestically. And so they slowly start to wean the rest of the block off of this energy subsidy over the course of the 19 seventies and 19 eighties. But that takes quite a long time to happen.
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