Oil and the Western Economic Crisis

  • Helen┬áThompson

Table of contents

  1. Front Matter
    Pages i-xii
  2. Helen Thompson
    Pages 1-7
  3. Helen Thompson
    Pages 93-106
  4. Helen Thompson
    Pages 107-114
  5. Back Matter
    Pages 115-118

About this book


This book explains the place of oil in the economic and political predicaments that now confront the West. Thompson explains the problems that the rising cost of oil posed in the years leading up to the 2008 crash, and the difficulties that a volatile oil market now poses to economic recovery under the conditions of high debt, low growth and quantitative easing. The author argues that the 'Gordian knot' created by the economic and political dynamics of supply and demand oil in the present international economy poses a fundamental challenge to the assumption of economic progress embedded in Western democratic expectations.


Monetary policy Federal Reserve Board European Central Bank (ECB) Bank of England US foreign policy OPEC Quantitative easing Stagflation Zero interest rates policy (ZIRP)

Authors and affiliations

  • Helen┬áThompson
    • 1
  1. 1.University of Cambridge CambridgeUnited Kingdom

Bibliographic information

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Finance, Business & Banking