The Response of the Energy Industry to Structural Transformation
The early seventies marked the end of a phase of expansion and rapid economic growth. The golden age between 1948 and 1973 was followed by stagnation and a succession of recessions and crises. In almost all industrialized nations of the West (and in the developing countries), politicians, industry and the working population have been confronted with a transformation of the economic environment only paralleled during the last one hundred years by one other, indeed even more instable period, namely the Great Depression.
KeywordsDepression Europe Transportation Income Shrinkage
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