Using highly-readable, non-technical language, the authors, both professional economists, describe all the major global economic forces at work in the 1970s and forecast the kind of future which such forces are creating (and which has indeed been the case). Inflation and recession, an energy crisis, international monetary disorder and a food crisis in the developing world are all discussed.

Acknowledgments; Chapter 1 Introduction: The Age of Oil; Chapter 2 The Early Expansion of American Capitalism; Chapter 3 The Oil Industry's Role in American Expansion; Chapter 4 The Relationship Between the Oil Industry and the American State - The Interwar Period; Chapter 5 The Relationship Between the Oil Industry and the American State - Post World War II Era; Chapter 6 The Control of World Oil: Policy and Problems; Chapter 7 The Control of World Oil: The Transformation of Europe; Chapter 8 The Erosion of US Dominance; Chapter 9 The Drive to Regain Dominance; Chapter 10 The Era of Economic Warfare;