Lessons learned in ‘70s have made US, world economies less vulnerable to oil shocks
Business
WASHINGTON (AP) — The world economy is experiencing a disorienting flashback to the 1970s. Oil prices are once again surging in the wake of war in the Middle East , driving up the cost of gasoline, diesel and jet fuel and threatening a return to stagflation – the toxic mix of higher prices and slower growth that made economic life so miserable a half century ago. But the U.S. and world economies are less vulnerable now than they were when Saudi Arabia and other Middle Eastern petroleum
astăzi