OPEC created an organization that is able to deal with the price of this critical not natural resource. John Maynard Keynes had in Bretton Woods that there should have been some form of international organization dealing also with prices of commodities. OPEC countries increased very significantly their development date and contributed to creation of IFAAD which has an organization for agricultural development.
Featuring Giuliano Garavini on his book The Rise and Fall of OPEC in the Twentieth Century. The second in a two-part series on the 20th-century history of petrostates, petrocapitalists, and the world system.
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