Abstract
Important peacetime changes in society are normally too slow and gradual to be discernible while they occur. When seen in this perspective, developments in the oil markets since 1973 have been less than normal. One is tempted to say that in 1973 the world economy witnessed a further round of eating the apple from the tree of knowledge and that we are still digesting. Although the economics (and neighboring) professions have had eight years for reflection and research, the process of identifying and assessing the impact of rising energy prices on the world economy is likely to go on for some time to come. Needless to say, such an analysis is complicated by the fact that the rising trend of energy prices has brought about changes in important mechanisms in the world economy (including the process of economic policy-making).
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 1982 The Scandinavian Journal of Economics
About this chapter
Cite this chapter
Matthiessen, L. (1982). Introduction. In: Matthiessen, L. (eds) The Impact of Rising Oil Prices on the World Economy. Scandinavian Journal of Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06361-1_1
Download citation
DOI: https://doi.org/10.1007/978-1-349-06361-1_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-06363-5
Online ISBN: 978-1-349-06361-1
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)