In This Review

Higher Oil Prices and the World Economy: The Adjustment Problem
Higher Oil Prices and the World Economy: The Adjustment Problem
Edited by Edward R. Fried and Charles L. Schultze
Brookings Institution, 1975, 284 pp
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The most thorough study yet published of the impact of oil prices on the consuming countries and the international financial system comes to the conclusion that in the long run $10 oil "poses no significant threat" to growth or living standards provided the right policies are followed, preferably by the consuming countries acting together.

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