Gresham College Lecture – The Oil Shock and Neoliberalism

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Date / time
15/02/2022, 1:00 pm - 2:00 pm


The oil shocks of 1973 and 1979 led to international disruption and a crisis in the post-war order. Domestically, weaker productivity growth, the squeeze on profits, and de-industrialisation led to conflict between capital and labour. Public finances came under strain and led to major changes associated with Thatcher and Reagan. The result was an intellectual revolution: a shift to neo-liberalism with a stress on individualism and incentives rather than collectivism and equality, and greater power for finance. ‘Hyper-globalisation’ now prioritised international over domestic concerns.


Register for this lecture, ‘The Oil Shock and Neoliberalism’.