What was the cause of the slowdown in the economic growth rates of industrialized countries in the mid-to-late 1970s?

Question

Quizplus · Accepted Answer

The increase in oil prices, specifically the oil crisis of 1973, was a significant factor in causing economic slowdown in industrialized countries. The increase in price of oil had a domino effect on other industries and caused inflation, which led to government anti-inflation policies. The Cold War and international free trade agreements may have had some impact, but were not as significant as the increase in oil prices.

What Was the Cause of the Slowdown in the Economic