The oil crisis gave rise to neoliberalism. I believe that the oil crisis of 1973 was largely based on misinformation and exaggerated fear, something that both Clara E. Mattei and Sven Grassman have highlighted. Mattei describes how the crisis was used to legitimize austerity policies and neoliberal reforms, while Grassman showed how Sweden manipulated its national accounts. The bourgeois government painted a…
Left blog
