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Energy Geopolitics & the Remaking of the Modern World | Helen Thompson

Hidden Forces

CHAPTER

The Inflationary Crisis of the 19th Century

Rising oil prices didn't translate into an obvious inflationary crisis. Other disinflationry forces at work in the world economy at the same time, particularly those that were coming from china. What we're seeing this time round is it's a harder problem, both because the levels of inflation are higher,. but i would say perhaps also because the pandemic then created labour shortage issues at least. And it's got more potatof a potential for rising wage demands this time than was the case either two thousand 11 or two thousand 7.

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