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1980s in economic history | HearLore
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1980s in economic history
Era of StagnationMikhail Gorbachev stood before the Communist Party in 1985 and labeled the previous decades as an Era of Stagnation. He used this phrase to describe the…
1980s oil glutThe world price of oil had peaked in 1980 at over US$35 per barrel. This high cost triggered a wave of conservation efforts across industrial nations.