The Fall of OPEC w/ Giuliano Garavini
The Dig
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The Effects of the Oil Prices on the Economy
Did countries like Saudi Arabia and Algeria make good on promises to use high oil revenues to modernize industrialized diversify their economy? Or did those revenues often lead to more consumption for the already well to do growing military budgets. The idea is that eventually this massive increase in oil prices translated into debts of third world non-oil producing countries.
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