OPEC — The Making and Breaking of ‘Third World Economic Power’

Kunibert Raffer
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Kunibert Raffer: University of Vienna

Chapter 9 in Unequal Exchange and the Evolution of the World System, 1987, pp 158-173 from Palgrave Macmillan

Abstract: Abstract Like any other science, economics and development research have their legends and fairy tales, an especially popular and widespread example being the legend of oil, OPEC and Third World power. Whenever problems of dependency are discussed someone is likely to introduce OPEC as a precedent of reverse dependence: albeit the only example, the argument might run — it shows that industrialised countries too are dependent on the South. Oil shocks and oil crises prove it.

Keywords: World System; Spot Market; American Petroleum Institute; OPEC Country; Unequal Exchange (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09187-4_9

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DOI: 10.1007/978-1-349-09187-4_9

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