In 1974, the western economic boom of the previous twenty-five years ended and an economic crisis began. Why?

Question

Quizplus · Accepted Answer

The quadrupling of oil prices by OPEC in 1973-1974 significantly increased the cost of energy worldwide, leading to inflation and economic recession in many countries. This event is widely recognized as a primary cause of the economic downturn that ended the post-World War II economic boom.

In 1974, the Western Economic Boom of the Previous Twenty-Five