 |
Text Adoption Program
Search
Your participation will advance liberty. Become an Independent Institute member.
The Independent Institute
100 Swan Way
Oakland, CA 94621-1428
The Independent Institute
1319 18th St. NW
Washington, D.C. 20036
510-632-1366 Phone
510-568-6040 Fax
Send us email
Interested in working with us? Click here for more information.
|
 |
|
Black Gold: The End of Bretton Woods and the Oil-Price Shocks of the 1970s
By David Hammes
Douglas WillsEconomists have debated the causal mechanism by which OPEC policies of the 1970s contributed to the decade’s rise in prices overall, but all sides have assumed that U.S. prices indices are appropriate for computing the real price of oil. This assumption is mistaken and has led economists to overestimate the benefit that the policies brought to OPEC countries and to ignore the effects that ending the Bretton Woods Agreement had on OPEC policies.
|
|
 |
|
|
